BENEFITS OF EMPLOYMENT AT NFI
Major Medical Insurance
Full time Associates can receive benefits provided by Comprehensive Major Medical coverage including hospital charges, office visits, hospital outpatient charges and prescription drug card. The plan is subject to change.
Vacation Full Time Associates
After 1 year of full time continuous service - 1 week.
After 2 years of full time continuous service - 2 weeks.
After 10 years of full time continuous service - 3 weeks.
After 20 years of full time continuous service - 4 weeks.
NFI provides Full time Associates with life insurance.
Full time Associates can elect to receive dental benefits. The plan covers preventive and restorative services.
Prescription Drug Program
Niemann Foods, Inc. will pay the balance of prescriptions after you pay an initial co-pay. Flexible Spending Plan Associates may participate through a pre-tax deduction to pay for certain expenses for unreimbursed medical and dependent care claims.
Voluntary benefits are available to purchase through the convenience of payroll deductions. Benefits include Short and Long Term Disability for Associates. Critical Illness, VSP Vision and Life Insurance are available for Associates and immediate family members.
Additional Full Time Benefits
• Six Paid Holidays • Funeral Leave • Direct Deposit
• Jury Duty • Middle Management Bonus
• PTO (Paid Time Off )—available to hourly Associates
• Personal and Sick Days available to salaried Associates
Employee Stock Ownership Plan
(ESOP) & Our 401(k)/Profit Sharing
We are very proud to offer 401(k)/profit sharing and a stock ownership plan. We feel that being “Employee Owned” has contributed much to our success. After all, when the Associates that are serving our customers everyday have a vested interest in company profits, they are more aware of all the “little things” that drive customer satisfaction.
Employee Stock Ownership
A portion of our profits each year is put aside to fund our Employee Stock Ownership Plan (ESOP) which provides shares of NFI stock to eligible associates. One key feature of the ESOP Plan is that the plan is 100% company funded.
Eligible Associates also participate in a Profit Sharing Plan which is also funded 100% by NFI. This contribution will vary, depending on how profitable NFI is.
Associates may also participate in a 401(k) Profit Sharing by contributing pre-tax monies through payroll deductions. To motivate you to save more, NFI will match 25% of what you contribute to the plan up to the first 6% of your wages. The 401(k) Profit Sharing Plan is self-directed by each Associate who chooses between 10 funds in which to invest, or a Target Date Fund that’s specificatlly designed with your retirement date in mind.
To qualify for ESOP and 401(k) Profit Sharing, you must be 21 years old, have completed 12 continuous months of employment and have worked a minimum of 1000 hours in the plan year.