Benefits

Health & Wellness

Medical Insurance

• Offered to all employees who work at least 30 hours per week
• Coverage is offered through Blue Cross/Blue Shield of RI, both individual and family plan options
• Rich plan with competitive premiums
• BETA pays a significant portion of the premium
• Coverage begins on the 1st day of employment, no waiting period!
• A stipend is offered to those employees who do not wish to participate in the medical plan
• Premiums are pre-tax under the company’s Section 125 Plan

Vision Insurance

• Offered to all employees who work at least 30 hours per week
• Coverage is offered through Blue Cross/Blue Shield of RI, both individual and family plan options
• BETA currently pays 50% of the premium
• Coverage begins on the first of the month following the date of hire
• Premiums are pre-tax under the company’s Section 125 Plan
• Plan offers significant discounts on hardware as well as office visits

Dental Insurance

• Offered to all employees who work at least 30 hours per week
• Coverage is offered through Delta Dental of RI, both individual and family plan options
• Coverage begins on the first of the month following the date of hire
• Premiums are pre-tax under the company’s Section 125 Plan

Excused Absence Time

• Offered to all employees who work at least 30 hours per week
• BETA provides 48 hours (6 days) of Excused Absence time , at the beginning of each calendar year, to all full-time employees who work 40 hours per week. Employees who work less than 40 hours per week (but more than 30), will receive a prorated number of Excused Absence days.
• Events that qualify as “Excused Absence” include your own illness, a family member’s illness, medical/dental/vision appointments for yourself or family, bereavement, maternity/paternity leave
• Excused Absence time can be carried over each year and can be accumulated up to 320 hours!

Insurance

Life Insurance/AD&D

• BETA provides Life insurance to all employees who work at  least 30 hours per week
• Plan provides insurance in the amount of one times the employee’s salary up to a maximum of $250,000
• Plan is 100% paid by BETA

Short-Term Disability

• Short-Term Disability insurance is automatically deducted from employees who work in the State of Rhode Island
• For those employees who work in BETA’s other offices, and work at least 30 hours per week, we offer a Short-Term Disability Plan
• Plan is 100% paid by the employee

Long-Term Disability

• BETA provides Long-term disability to all employees who work at least 30 hours per week
• Plan is 100% paid by BETA
• Plan offers 60% of monthly earnings with a max benefit of $7500 per month

Saving for the Future

Flexible Spending Accounts (FSA)

• Offered to all employees who work at least 30 hours per week
• Dependent Care Plan option (annual IRS max of $5,000.00)
• Medical Plan option (annual IRS max of $2,850.00)
• Medical Plan option allows for a $550.00 annual roll-over

401(k) Plan

• Offered through Paychex
• No waiting period to enroll!
• Plan offers both a traditional 401(k) as well as a Roth option
• BETA typically offers an annual discretionary match, historically, up to 20% of the employee’s contributions

ESOP Program – OUR RICHEST & MOST POPULAR BENEFIT!

• Employee Stock Ownership Program
• BETA is 100% employee owned
• All employees, regardless of position, have stock ownership interest in the company
• Acts as a secondary retirement plan, in addition to the 401(k) Plan
• Plan is 100% funded by BETA…there is no cost to the employee!

Life & Work Balance

Paid Holidays

• BETA provides paid Holidays to employees who work at least 30 hours per week
• 8 paid Holidays
• 2 Floating Holiday for employees who begin employment prior to June 30th.

Vacation Time

• BETA provides paid vacation time to employees who work at least 30 hours per week
• Increases in vacation time are offered based on length of service with the company
• Vacation time is earned on an accrual basis

Personal Days

• BETA provides paid personal days to employees who work at least 30 hours per week
• Employees are given 16 hours (2 days) of personal time at the beginning of each calendar year

Professional Growth

Tuition Reimbursement Program

• BETA offers a reimbursement program for courses directly related to the employee’s area of responsibility
• Payment is equal to 50% upon enrollment of the course and 50% upon the completion of the course (grade dependent)
• BETA will pay for one pre-approved course per semester with an annual max of $5,000 per calendar year

ESOP

Employee Stock Ownership Plan (ESOP)

BETA started an ESOP in 2000 to help ensure the future success of the company, while providing a considerable profit sharing and retirement plan to all of our employees.

Our philosophy is that each employee will be motivated to have a keen interest in making sure that they do their jobs well so that they will be eligible to share in the financial rewards.

BETA’s ESOP requires no investment on your part!  The stock you receive through the ESOP costs you nothing.  It is given to you as an employee benefit and complements our 401(k) plan, health insurance plan and other benefits.

Our ESOP recognizes and motivates all whom have helped the company to grow and prosper. It rewards your commitment and hard work, and provides an incentive to remain with the company as we continue to grow. The more time you invest in BETA, the greater your ESOP account will grow!

We are pleased to have had the opportunity to establish the BETA Employee Stock Ownership Plan for your future benefit. It is our hope that our employees will remain with the company as long as possible to maximize this important retirement benefit and include it as part of your wealth building plan for your future well-being.