Job Benefits - USA

Job Benefits - USA

iQuasar provides excellent benefits package to employees. Below is a brief summary of our current benefits

Medical Insurance

iQuasar LLC offers medical insurance plan options to salaried as well as hourly contingent employees, different plans are offered. iQuasar pays 50% of medical insurance premium for employee only when they enroll in eligible plans. Employee is eligible to enroll family in the group plan but employee is responsible for 100% of family insurance premium.

Dental Insurance

Dental insurance is provided by United Healthcare Dental. The annual deductible is $50 per individual and $150 per family per calendar year. Employees pay 100% dental insurance premium for self and families. iQuasar doesn’t share the cost of dental premium

Vision Insurance

There is $10 co-payment for the vision examination at the time of service and $25 co-pay for materials. iQuasar doesn’t share the cost of vision premium. Frequencies:

  • Exam – Once every 12 months
  • Lenses - Once every 12 months
  • Frames - Once every 24 months

401(k) Plans

All employees age 21 or older are eligible to participate in the 401(k) retirement savings plan after completion of 6 months of service with iQuasar. Employees can contribute from 1% and 85% of their pre-tax salary to their retirement plan each year up to the annual IRS maximum limit. 401(k) plan also allows employees to contribute on an after-tax basis through Roth 401k contributions. Employees have the option of contributing to a Traditional 401(k) account, a Roth 401(k) account, or both. The IRS limit on total annual contributions varies every year. The annual IRS maximum refers to the total amount one individual may contribute in a year, whether contributions are made to one account or two

Match

iQuasar matches 100% on the first 3% of employee’s compensation and 50% on the next 2% of employee’s compensation after eligibility criteria is met.

Traditional 401(k) Plans

In a Traditional 401(k) plan, contributions are made with pre-tax dollars. The money is not taxed while it remains in your account, but is taxed upon distribution after age 59½. With this option, the growth of the money will be taxed

 Roth 401(k) plan

In a Roth 401k plan, contributions are made with post-tax dollars. The money is not taxed while it remains in your account, and is not taxed upon distribution after age 59½. With this option, the growth of the money will not be taxed

Benefits of enrolling in 401K plan

  • Employer contributions.
  • Tax-advantaged saving through pre-tax contributions and the Roth 401(k) option
  • Convenient, automatic payroll deductions
  • Variety of investment options and investments that make saving easy
  • Plan features that simplify planning
  • An account you can take with you
  • Online access to manage your account

Investment Plans

Employees can control how savings are invested and have a variety of investment options in 401(k) plan to help create the asset allocation that is right for employee needs and goals

Payroll

iQuasar’s pay cycle runs on semi-monthly basis on the 15th and last day of the month. iQuasar offers all employees automatic payroll deposit into a financial institution of their choice through ADP

Online Access

Employees are provided access to ADP’s secure web based payroll system to view payroll as well as PTO information. Employees can also keep their profile up to date

Paid Time Off (PTO)

Second year of service

iQuasar pays paid-time off (PTO) on accrual basis. PTO includes vacation and personal (including sick) leave. In the first year, employees accrue one day PTO every month for the first ten months of service. PTO begins to accrue upon date of hire. PTO including vacation and personal leave is accrued each pay period in accordance with the following schedule

Length of Service

First year of service

Second year of service

  • Vacation: 8 Days per year
  • Personal: 2 Days per year
  • Vacation: 10 Days per year
  • Personal: 3 Days per year

Holidays

 

Full-time salaried employees are eligible for paid holidays during each calendar year. A paid holiday does not count as a day worked in calculating overtime for the week.
Eight holidays are observed by iQuasar each year

  • New Year's Day - January 1
  • Memorial Day Last - Monday In May
  • Independence Day July 4th
  • Labor Day First Monday in September
  • Thanksgiving Day Fourth Thursday in November
  • Christmas Day December 25
  • 2 Floating Holidays