In addition to health care and retirement benefits, Eastman offers other benefits that enhance and add-value to an employee’s performance. In addition, Eastman recognizes the importance of strong family and community life. The company provides numerous options for employees to balance work and family issues. It also provides recreational activities and facilities at certain work locations and supports employees' participation in the many various community and charitable opportunities available.
The Company provides benefit dollars to purchase coverage equal to your Insurance Annual Salary Rate (IASR). You may elect a higher level of coverage for which you will pay the difference in cost.
Dependent Life Insurance
You have the opportunity to elect life insurance and/or accidental death insurance coverage for your dependents. The cost for this coverage is your responsibility.
Occupational Accidental Death Insurance(OAD)
The Company provides this coverage should you die within one year of a job-related accident or while traveling on company business. The coverage is equal to two times your IASR. Benefits from the Plan are paid in addition to other death benefits for which you are eligible.
The Long Term Disability Plan (LTD) provides continuing income when you are unable to work due to an extended disability. You must meet specified qualifications to receive LTD benefits. The company provided amount is 50% IASR with the option to increase to 60% IASR (employee would pay the difference in cost of coverage with pre-tax dollars).
The Short Term Disability Plan (STD) is a company-paid benefit which provides continuation of all or a portion of your pay when you are unable to work due to a non-occupational disability for which no benefit is payable under Workers’ Compensation laws. The maximum duration of STD Plan benefits is 1040 hours (approximately 26 weeks). The Benefit Level is 100% of your Base Pay.
Worker's Compensation Supplement
The Workers’ Compensation Supplement Plan is a company paid benefit that ensures replacement of lost wages paid under Workers’ Compensation laws are no less than the same benefit paid under the Short Term Disability (STD) Plan for non-work related disabilities. The maximum benefits is 1040 hours (approximately 26 weeks).
Long-Term Care Insurance
Long-term care insurance (LTC) pays for care and maintenance if you, or a covered dependent, become mentally or physically incapacitated over a long period of time. LTC is offered to active employees, retirees and their eligible family members through an individual insurance policy issued by Unum Life Insurance.
This is a summary of general company policies and practices, which the Company can change, modify, or eliminate at any time without notice.
Nothing contained in this document creates a contract of employment or otherwise alters the “At-will” nature of your employment.