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Employee Benefits

Benefit Package for Full-Time Teammates

~ Health, Vision, Dental Insurance and Wellness Benefits
After 60 days’ employment, full-time and 130-hour/month teammates become eligible to participate in our group health insurance and vision insurance plans offered by Anthem and our dental plan offered by Delta Premium. The health, vision and dental plans go into effect on the first day of the month following the teammate’s 60th day.  Health Savings Accounts are also available for those teammates participating in our health insurance plan, including employer contributions into the account.  Teammates also participate in a Section 125 pre-tax premium plan for health, vision and dental premiums through payroll deductions.

Teammates covered under Paducah Bank’s health insurance plan also enjoy wellness benefits which include free annual physical exams, free preventative and urgent care clinic visits and free one-on-one wellness coaching.

~ Training, Education and Teammate Development
Teammates will have the opportunity to participate in a variety of educational opportunities, both internally and externally, in order to increase skill level and aid them in long term career and personal development. Opportunities may include banking schools, webinars and conferences, as well as reimbursement for advanced education-related fees.

~ Ownership and Long-Term Investment/Retirement Preparation
Paducah Bank offers retirement planning through our KSOP (401K and Employee Stock Ownership Plan), including company matching as detailed in the attached Summary Plan Description.

~ Paid Time Off
Paid Time Off (hereafter “PTO”) is to be used at the teammate’s discretion while coordinating with his/her supervisor, for illness, doctor’s visits, vacation and personal leave. New full-time teammates begin earning PTO as of their hire date.  New teammates must be employed for a minimum of three full months from hire date before vesting PTO and before it may be taken.  Accrual of PTO is based upon hours worked and years of service.

Years of Service                                  Accrual Rate Per Pay Period (Non-Exempt)

0 – 5                                                    5.53 hours

6 – 15                                                  7.08 hours

Over 15                                               8.61 hours

Full-time teammates may accumulate as many as 720 hours of PTO.

~ Holidays
Full time teammates receive ten paid holidays annually.

~ WOW! Perks with Interest Checking Account
Teammates will receive a checking account with no maintenance fee into which payroll will be deposited.

~ Teammate Assistance Program
Teammates and members of their families receive up to three free, confidential visits per year with professional counselors/therapists/psychologists through Psychological Associates of Paducah, Inc.

~ Life, Accidental Death and Dismemberment, Long Term Disability Insurances
Group Life Insurance coverage is 1.5 times annual salary up to $400,000.

Group Accidental Death and Dismemberment coverage is 1.5 times annual salary up to $400,000.

Long Term Disability coverage is 60% of monthly salary up to $5,000.

~ Worker’s Compensation, Unemployment, Social Security and Medicare Insurances
Employer pays $.25 per $100 of covered annual salary for workers’ compensation insurance.

Employer pays state unemployment insurance of $159 per teammates per year and federal unemployment insurance of $56 per teammate per year.

Employer pays Social Security and Medicare insurance at a rate of 7.65% of teammate’s annual salary.

~ Supplemental Insurance Benefits
 Teammates receive access to supplemental worksite insurance such as accident, cancer, disability and more.

~ Discounts On Loans
Teammates may contact a loan officer for information on discounted loan rates.

~ College Planning
Paducah Bank sponsors a College Savings (529) Plan, enabling the teammate to save for a loved one’s future educational expenses.  The plan is established with American Funds, providing potential tax benefits and discounts to traditional investment costs.

 ~ Discounts On Legal Services
Denton Law Firm offers Paducah Bank teammates discounted fees on estate planning services, i.e. wills.

 ~ Safe Deposit Box
 Teammates have the use of a safe deposit box at no charge.

 ~ Parking
Teammates enjoy reserved parking and are not charged a parking fee.

~ Clothing
Teammates receive Paducah Bank logoed clothing for relaxed business wear.

~ Miscellaneous Extras
Teammates and a guest are treated to events throughout the year, such as summer and holiday parties.

 

Benefit Package for Part-Time Teammates

~ Premium Rate
Teammates receive a 10% hourly premium throughout the period in which they are classified as part-time and scheduled for fewer than 30 hours per week.

 ~ Training, Education and Teammate Development
Teammates will have the opportunity to participate in a variety of educational opportunities, both internally and externally, in order to increase skill level and assist them in long term career and personal development. Opportunities may include banking schools, webinars and conferences, as well as reimbursement for advanced education-related fees.

~ Ownership and Long-Term Investment/Retirement Preparation
Paducah Bank offers retirement planning through our KSOP (401K and Employee Stock Ownership Plan), including company matching as detailed in the attached Summary Plan Description.

~ Holidays
Teammates receive four (4) hours pay for each of the ten annual federal holidays on which the Bank is closed.

~ WOW!Perks with Interest Checking Account
Teammates will receive a checking account with no maintenance fee into which payroll will be deposited.

~ Teammate Assistance Program
Teammates and members of their families receive up to three free, confidential visits per year with professional counselors/therapists/psychologists through Psychological Associates of Paducah, Inc.

~ Supplemental Insurance Benefits
Teammates receive access to supplemental worksite insurance such as accident, cancer, disability and more.

~ Worker’s Compensation, Unemployment, Social Security and Medicare Insurances
Employer pays $.25 per $100 of covered annual salary for workers’ compensation insurance.

Employer pays state unemployment insurance of $159 per teammates per year and federal unemployment insurance of $56 per teammate per year.

Employer pays Social Security and Medicare insurance at a rate of 7.65% of teammate’s annual salary.

~ Discounts On Loans
Teammates may contact a loan officer for information on discounted loan rates.

~ College Planning
Paducah Bank sponsors a College Savings (529) Plan, enabling the teammate to save for a loved one’s future educational expenses.  The plan is established with American Funds, providing potential tax benefits and discounts to traditional investment costs.

 ~ Discounts On Legal Services
Denton Law Firm offers Paducah Bank teammates discounted fees on estate planning services, i.e. wills.

 ~ Safe Deposit Box
Teammates have the use of a safe deposit box at no charge.

 ~ Parking
Teammates enjoy reserved parking and are not charged a parking fee.

~ Clothing
Teammates receive Paducah Bank logoed clothing for relaxed business wear.

~ Miscellaneous Extras
Teammates and a guest are treated to events throughout the year, such as summer and holiday parties.