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Employment Benefits

Mate Precision Technologies believes that the benefits package offered to its employees is a meaningful part of their employment. Following is a summary of the many benefits Mate extends to its full-time employees. This information represents an overview of the benefits program and is not intended to be all-inclusive, or to be used as a summary plan description.

Mate Precision Technologies Employees Retirement Savings Account

Mate contributes between 0 – 15% of annual gross wages to your profit sharing account annually, based on company profitability.

Voluntary 401k Contributions

• Mate matches 50% of the first 6% of employee’s contribution.
• Convenient payroll deduction and a variety of investment options
• Contributions that can be made on a before-tax and/or an after-tax basis
• Loan and withdrawal options available
• Rollovers accepted from other qualified plans

All funds for the Profit Sharing and 401k plans are invested funds administered by Fidelity Investments and are self-directed by the employee. There are a wide range of funds available dependent on the risk and rate of return desired.

Medical Insurance

• HealthPartners network
• 100% coverage for preventive care, including routine physicals & eye exams, well-child care, immunizations, and prenatal & postnatal care
• Annual deduction of $1,500 per individual or $2,500 per family
• Out of pocket in-network maximum of $3,500 individual or $7,000 per family
• Prescription Drug Coverage

Dental Insurance

• Delta Dental network
• 100% coverage for Diagnostic & Preventative services, including exams & cleanings, x-rays, and fluoride treatments
• 80% coverage for Basic Services, Periodontics, Oral surgery, Major restorative services, and Prosthetics
• Annual Deductible of $50 per individual or $100 per family
• Orthodontic benefit for dependent children up to age 19

Short Term Disability

• Company paid
• Benefits equal to 60% of your wage for up to 13 weeks

Basic Life Insurance

Full-time employees are automatically covered by company-paid life insurance and Accidental Death and Dismemberment coverage.

Supplemental Life Insurance

Supplemental Life Insurance and Dependent Life Insurance are additional coverages that full-time employees may elect.

Medical Flexible Spending Accounts

Employees can enroll in a Flexible Spending Account (FSA) for health care. This account allows you to reserve a portion of your paycheck as a tax-free fund for covering eligible health care expenses such as deductibles, co-insurance, dental and vision expenses.

Dependent Care Flexible Spending Account

Employees can save before-tax dollars from each paycheck to pay for qualifying daycare and eldercare expenses.

Paid Time Off (PTO)

Mate is committed to all team members enjoying a balanced and enjoyable life, including time off with friends and family. PTO is accrued based on length of service, position and hours worked.

Mate Tuition Reimbursement Program

Mate values a work environment that enhances development of people and allows them to meet their goals and those of the company. Mate’s Educational Assistance Plan provides up to $5,250 work related educational assistance from an accredited institution per calendar year.

Other Benefits

• Clean, air conditioned shop
• Free annual hearing test
• Free flu shot immunization
• Employee Appreciation Cook Outs
• Employee Recognition Program
• Winter Employee Party
• Thanksgiving Turkey Gift
• Jury Duty Pay
• Funeral Pay
• New Employee Gifts
• Employee Assistance Program
• Casual dress code
• Consignment Tickets
• MERSC member discounts