Silverton Bank is pleased to offer a competitive compensation and benefits package for our diverse workforce. This "Total Compensation Package" gives our employees the security for today and the tools to help plan for the future. It enables them to manage their work/life balance while allowing them to custom-tailor the benefits to meet their particular needs.
Our health and life programs span medical, dental, vision, life and disability programs to help our employees and their families in their time of need.
- Employees, spouses and dependents are eligible for health and wellness coverage from their date of hire as defined by our summary plan descriptions.
- Benefit plans include Medical, Vision, Dental, Long Term Disability, Short Term Disability, Term Life Insurance, Dependent Life Insurance, Business Travel Accident Insurance, Flexible Spending Accounts including Health Care Reimbursement and Dependent Care Reimbursement Accounts, and an Employee Assistance Program.
While planning for an employee's retirement is an individual responsibility, Silverton Bank has several benefits to help you with this process including a 401(k) plan and contributions to Social Security.
Silverton Bank, N.A. 401(k) Plan
Silverton Bank provides a 401(k) retirement program that enables our employees to build the financial resources they need for the years ahead. Key program highlights are:
- Participation in the plan is effective upon the first day of the first full month after date of hire.
- Choice of an extensive portfolio of fund categories including stable value, short government, intermediate-term bond, moderate allocation, large value, large blend, large growth, mid-cap value, mid-cap growth, small value, small growth, world stock and foreign large blend.
- Silverton Bank will match employee contributions, dollar for dollar, up to 5% of their compensation. The company match does not have any vesting schedules as of January 1, 2007.
- Employees are able to manage their accounts online at anytime.
Social Security
As an employee pays Social Security during their working years, he or she may be eligible to receive benefits upon retirement or disability; or the employee's family may collect benefits upon the employee's death. An employee may be eligible for Social Security at any age, depending upon the circumstances. This benefit is provided by the Federal Government and is subject to change based on its management of the plan. For specific questions or a statement of employee's contributions to date, contact the Social Security office at 1-800-772-1213.
Employees are eligible for the tuition reimbursement program immediately upon being hired. Employees participating in the program must not be on probation and must maintain a grade point average of 2.0 for undergraduate and graduate level courses. In addition, the employee must supply grades at the end of the term, and the employee may not request tuition reimbursement for a repeated course. Prior to course registration an employee must gain approval from their current manager.
- Undergraduate and graduate level courses offered through accredited colleges, universities and technical schools that, in the company's opinion, are related to an employee's current or potential position, are reimbursable.
- Tuition reimbursement covers actual costs of tuition for up to a maximum of $5,250 per academic year. This includes all matriculation fees, required books, and any software required in lieu of books for courses. The Bank will not pay for application fees, calculators, computers, laptops, printers, Internet access, meals, transportation, or room and board costs associated with attending classes.
In addition to our health and life benefits, employees also have the opportunity to take advantage of other benefits such as:
- Anniversary Service Awards for employees
- Employee Assistance Program provides confidential services including legal, financial, mental health, etc. The Company currently pays the full cost of this benefit for its employees and their dependents.
- Participation in Bank Sponsored Employee Events
- Employee Referral Bonus for referrals hired at Silverton Bank
- Observation of Federal Banking holidays, including New Year's Day, Birthday of Martin Luther King Jr., President's Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving Day, and Christmas Day
- Company Paid Annual Flu Shots
- Adoption Assistance Benefits
- Paid Time Off
Silverton Bank, N.A. is a national banking association primarily regulated by the Office of the Comptroller of the Currency. Deposit accounts are Federal Deposit Insurance Corporation (FDIC) insured.
© 2008 Silverton Financial Services, Inc. All rights reserved.
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