Employee Benefits
Employee Benefits
Louisiana Machinery offers the following benefits to full-time employees who become eligible upon completion of 30 days of employment. The 401K Plan however requires 120 days.
Group Medical Insurance
The Group Medical Insurance is a fully insured plan offered through Aetna PPO options. We offer a choice of three plans: Heath Savings Plan, Classic and Performance. Also provided in your premium payment for Medical Insurance are Life Insurance, Accidental Death and Dismemberment Insurance, Wellness Programs and Vision Plan.
401K Plan
A pre-tax retirement savings plan made with employee contributions through payroll deductions. Contributions may be from 1% to 23% of gross earnings with a company match of 50% on first 6%. This plan is self-directed and employees are to select their own investment options, such as mutual funds, stocks, and bonds.
Voluntary Hospital GAP Plan
This voluntary product provides coverage for your out-of-pocket medical expenses (co-pays/deductibles). You can be reimbursed up to $500, $1000, or $2,000 per hospital confinement depending upon your choice of coverage.
Voluntary Short/Long Term Disability Insurance
This insurance pays short-term disability benefits at a rate of 60% of the employee's gross salary per week with maximum of $500 for a total of 11 weeks. Long-term disability benefits are paid at a rate of 50% of employee's salary should the employee be unable to work due to an accident or illness. Long-term disability benefits become effective after 90 days. Louisiana Machinery pays 50% of the premium, which is based on the employee's annual earnings.
Voluntary Supplemental Term Life Insurance
This voluntary program allows the employee to purchase up to five times their annual salary (maximum of $500,000) in term life insurance. Coverage for the spouse and children is also available and the monthly premium varies according to the level of coverage selected.
Voluntary Group Dental Plan
This voluntary product provides coverage at any dentist's office you choose and pays up to 100% for covered procedures after the appropriate calendar year deductible.
Voluntary Cancer Insurance
This program pays benefits for the necessary treatment of cancer or numerous other specified diseases and for any other condition directly caused or aggravated by the cancer or numerous other specified diseases.
Technician Tool Purchase Program
Toolchex
Employee Credit Union
Louisiana Machinery Employees Federal Credit Union assists with different types of loans and savings accounts.
Training/Continued Education
On the job training, OEM Training, Continued Education and Self Service Training
Uniforms
For many positions company uniforms are paid for in full.
Paid Holidays
Louisiana Machinery recognizes the following paid holidays:
New Year's Day, July 4th, Labor Day, Thanksgiving Day, Friday after Thanksgiving Day, Christmas Eve, Christmas Day and either Mardi Gras or the Employee's Birthday.
Paid Vacation
Louisiana Machinery provides paid vacation for full-time employees who become eligible on the following schedule:
* 1 year of employment earns 1 week of vacation
* 2 years of employment earns 2 weeks of vacation
* 8 years of employment earns 3 weeks of vacation
* 20 years of employment earns 4 weeks of vacation
