Benefits – Commodity Specialist
Compensation — Pay is reviewed annually.
Health Insurance — Digi-Key Corporation provides coverage through Blue Cross & Blue Shield of Minnesota. Coverage has no deductible, if you use one of our network providers. The employee’s share of the cost for a family policy is $702 annually. Single coverage is free of charge to the employee. In-Network services include no deductibles and there are no office co-pays. Formulary drug prescription plan provides prescriptions to plan participants for a $7 co-pay. Plan enrollment date is 30 days following the hire date and the first of the month following that period. Example: Employee starts May 15 and coverage becomes effective on July 1.
Flexible Spending Accounts — Our flexible spending accounts enable participants to pay for health insurance premiums, unreimbursed medical and dental expenses, as well as dependent care expenses out of pre-tax funds. Consult your tax advisor for assistance regarding this opportunity.
Life Insurance — Full time employees are covered by a company-paid life insurance policy that provides benefits equal to three times the employee’s annual earnings. Plan enrollment date is six months following the hire date and the first of the month following that period. Example: Employee starts May 15 and coverage becomes effective December 1.
Long Term Disability Insurance — Disability insurance is provided to all full time employees. Following a 30 day waiting period, eligible employees may receive benefits equaling up to two thirds of their covered earnings. Plan enrollment date is six months following the hire date and the first of the month following that period. Example: Employee starts May 15 and coverage becomes effective December 1.
Dental Insurance — Digi-Key Corporation provides coverage through Delta Dental. This is a voluntary employee plan that features low deductibles of $25 per person / $75 per family (no employee cost or deductible for diagnostics and cleanings) and involves employee participation in the form of bi-weekly payroll deductions of $5 biweekly (single coverage) or $15 biweekly (family coverage). Plan enrollment date is 30 days following the hire date and the first of the month following that period. Example: Employee starts May 15 and coverage becomes effective on July 1.
401(k) Plan — Wells Fargo Bank administers Digi-Key Corporation’s plan. Employees must be 18 years of age and have worked at Digi-Key for a minimum of 30 days to be eligible. Plan entry date is the first of the following month. Digi-Key matches employee contributions dollar-for-dollar up to 3%. Six year vesting rules apply to the Digi-Key match.
Profit Sharing — Profit sharing utilizes the 401(k) plan’s tax-deferred advantages. Digi-Key Corporation may provide profit sharing contributions directly into your retirement account. Employees must be 18 years of age and have worked at Digi-Key for a minimum of six months (completing 1,000 hours of service) to be eligible. Plan entry date is the first of the following calendar quarter. Historically, annual company contributions have totaled up to 4% of annual income. Six year vesting rules apply.
Personal/Vacation Time — 48 hours of unpaid personal time are provided to you annually, including your first year. Forty hours of paid vacation and forty hours of unpaid vacation is provided in your first year. Eighty hours of paid vacation time is available after one year of service. 120 hours of paid vacation time is available after ten years of service. 160 hours of paid vacation time is available after twenty years of service.
Holidays — There are six paid holidays, including New Years Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day.
Other Benefits:
Employee Purchases – Full time and part time Digi-Key employees may purchase Digi-Key components and supplies at 10% above Digi-Key’s cost.
Automatic/Direct Deposit – Available for all employees’ payroll disbursements
Employee Assistance Program – Available to all full time and part time employees