Employee handbook

Part Time Retiree Insurance Coverage

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Part Time Retiree Insurance Coverage

Part time employees are not eligible for health insurance coverage.

However, an employee who is of legal retirement age as classified by Social Security and has worked full time for Keith Ace Hardware for a minimum of 8 years and continues to be employed at least 25 hours a week as a retired associate, will be eligible to continue coverage of insurance as long as they are actively on the insurance plan upon retirement/part-time status.

A part time position is not guaranteed.
If available, a part time position and corresponding rate of pay will be determined by management upon approval of the status change.
The employee will be responsible for the entire cost of the premium for the coverage they have chosen.

COBRA (Consolidated Omnibus Budget Reconciliation Act)

Continued coverage under Keith Ace Hardware’s group medical plan following termination of employment may be available to you or your qualified beneficiaries under applicable law. The cost of coverage is paid solely by the former employee and may be subject to an administrative fee.

Retirement Savings Plan 401k (updated August 1, 2014)

Keith Ace Hardware employees have the opportunity to participate in a voluntary 401(k) retirement plan which allows employees to save a portion of their compensation for retirement.

Employees must have completed 12 months and 1000 hours or more of service.
Must be 21 years of age.
Once signed up, contributions will begin on the first pay period of the next quarter.

Contributions

You may contribute from 1% to 20% of your gross pay.
You may increase or decrease your contribution percentage at any time. Changes will take effect on the first pay period of the next quarter.
You may stop contributions at any time.
Keith Ace Hardware will contribute .5% to each 1% you contribute, up to 6% of your compensation (max of 3% from employer).

Vesting Schedule

You are always 100% vested in the value of your own contributions. However, any employer contributions made on your behalf are based on the following vesting schedule:

Years Employer Contributions

0 0%

1 0%

2 20%

3 40%

4 60%

5 80%

6 100%

Withdrawing

If you are under age 59 ½, most withdrawals from your plan are subject to a 10% penalty tax imposed by the IRS.
There are no penalties for withdrawals for the following events: age 59 ½ and older, disability, death, or termination of employment after age 55.
If necessary, most distributions from your plan can be rolled over into an IRA account.

Account Services: 1-800-395-1113 or www.jhpensions.com

Check your account balances.
Obtain information on the investment funds in your account (share prices, performance information, etc.).
Change your investment elections (how your future dollars are invested).
Exchange funds (move money between funds).

Questions regarding the 401k program should be directed to Judy at Keith General Office.

Workers' Compensation (updated August 1, 2014)

Keith Ace Hardware provides workers' compensation insurance at no cost to its employees. Subject to applicable legal requirements, workers' compensation will pay for medical care and lost wages resulting from job-related illnesses or injuries.

All claims should be reported immediately. Claims must be reported on the Incident / Accident form. If needed, employees should receive medical attention the same day as the accident. Employees are required to take a drug test if medical treatment is necessary. All employees are expected to retun to work immediately upon medical release by their treating physician. Failure to comply may result in claim denial and/or an administrative violation, which could include up to a $500 fine.

It is the responsibility of all employees to report any of the following to their supervisor immediately:

Accidents/incidents with injury/illness of any magnitude (including first aid related cases);
Accidents/incidents resulting in property or equipment damage of any type;
Any near miss incidents that could have potentially resulted in injury/illness or property damage of any kind.

Anytime there has been an accident or injury involving an employee or a customer, take care of medical needs immediately (ambulance, doctor visit, etc...). Document in detail exactly what took place and every individual that witnessed the incident using an Incident / Accident form. (See Procedure Manual) Report the incident to the G.O. immediately.

If one of our employees is injured while on duty with our company, and the extent of the injury is such that might require the services of a physician, it will be the duty of the manager, or one of his assistants, to see the service is accorded the injured employee without delay. (See Procedure manual for Workers' Compensation information.) Where the injured party is not one of our employees, avoid commenting on the incident. Tell them we are fully covered by insurance, that you will promptly report the matter to our General Office, and that our insurance company agent will get in touch with them for the purpose of making whatever settlement may be proper. Lend your assistance toward getting the injured party in touch with a physician or with relatives. Property damage should be handled in a like manner, with no reference to our liability in the incident.

Accidents can be kept to a minimum by all personnel taking care to watch for, and correct, any unsafe conditions they know of, or report to the manager any they are not capable of handling themselves. Never undertake a task you know may injure you or someone else.

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