Pay and benefits

Exceptional pay

In a perfect world, all employees would be fully compensated for the hard work they do, day in and day out, to help their customers and their company.

At SAIF Corporation that’s what we do: We reward employee performance through our pay-for-performance based compensation program. This innovative program is aimed at attracting, retaining, and motivating skilled, high-performing employees to give their best efforts. The program includes:

• Competitive salaries
• Performance-based salary adjustments
• Variable lump-sum opportunities

Leading edge benefits

Because employee needs can differ, our total compensation program provides, in addition to pay, a variety of benefits to support our employees’ well-being. Benefits include: 

Comprehensive health benefits    

• Medical-dental-vision insurance for employees and dependents
• Employee life insurance and long-term disability protection
• Onsite health clinic in Salem for employees and dependents
• Employee Assistance Program for employee/family counseling

Voluntary benefits   

• Flexible spending accounts for eligible health and dependent care expenses
• Commuter Expense Reimbursement Account (CERA)
• Educational assistance program
• Health education and WorkLife programs
• Voluntary (employee paid) life, accident, auto/homeowners’ insurance plans with premiums payable through payroll deduction

Paid time off

An appealing part of any good benefit package is paid time off. Our employees’ values - spending time with family and friends, and having a balance between work and personal life - reflect our values, too.

• Nine recognized holidays, plus two personal holidays
• Vacation leave accruals to 280 hours (35 days)
• Unlimited earned sick leave accumulation
• Paid leaves of absence for personal and family illness, bereavement, pre-retirement counseling, and more.

Retirement

Once you come to SAIF, you may never want to leave, but sooner or later you’ll start wondering about retirement benefits. We’re an insurance company, so naturally we offer our employees excellent plans to help them build financial security.

• Membership in either Oregon Public Service Retirement Plan (OPSRP) or Public Employees Retirement System (for existing PERS members only), and an Individual Account Plan (IAP).
• Deferred compensation: tax-delayed employee contributions to a wide range of employee-selected investment options.

Benefit Details

Our total compensation program provides comprehensive benefits and voluntary benefits.

---

Comprehensive benefits

SAIF provides these outstanding benefits at no cost to employees:

• Medical-dental-vision plans

  Employees are eligible on their date of hire. All medical, dental, and vision benefits are fully paid for a majority of employees. (A premium cost-share applies for part-time, some spouses/domestic partners, and a premier medical plan and dental plan.) Employees have three medical plans and three dental plans to choose from.
  
  

• Employee life insurance and long-term disability coverage

  Employees are eligible on their date of hire. Coverage is equal to 100 percent annual salary for life insurance, 60 percent for disability.
  
  

• Employee health services facility

  Employees are eligible on their date of hire. An onsite health care clinic in Salem is provided for employees and eligible family members.
  
  

• Holiday pay

  Employees are eligible on their date of hire, and must be in paid status before and after the holiday.
  
  

• Sick leave

  Employees begin accruing sick leave on their date of hire. This benefit is unlimited, and accrues at eight hours per month.*
  
  

• Vacation leave

  Employees begin accruing vacation leave hours on the date of hire and continue to accrue each month based on the accrual schedule listed below. On January 1 of each calendar year, employees are awarded the vacation leave accrual hours for the full year projected through December 31. 280 hours (35 days) can be carried over at the end of the calendar year.
  
  

Years of service	Days of vacation
Date of hire - 5	12 days
6 - 10	15 days
11-15	18 days
16-20	21 days
20+	24 days

• Personal holiday leave

  Employees are eligible on their date of hire. At hire, regular employees receive eight hours personal holiday time with pay, with an additional eight hours awarded upon completion of six full months of employment at SAIF.
  
  

• Other types of leave

  SAIF provides other leave benefits, such as family and medical, bereavement, jury, and military. The date of eligibility varies with the benefit.
  
  

• Retirement plans

  Eligible SAIF employees participate in a retirement program through either the Oregon Public Service Retirement Plan (OPSRP) or Public Employees Retirement System (for existing PERS members only), and an Individual Account Plan. Employees are eligible at the beginning of the month following six full calendar months of employment.
  
  

• Educational Assistance Program

  This program offers reimbursement for tuition and certain other expenses for approved coursework (dollar limits may change annually). Employees are eligible after 18 months of employment.
  

* A part-time employee's accrual is based on her/his percent of full-time work.

---

Voluntary benefits

These voluntary benefits all are available on date of hire.
** Indicates a payroll deduction.

• Deferred Compensation Plan**

  Employees may set aside a portion of their gross earnings in a tax-deferred retirement savings account with fixed and/or variable return investments through ING Financial Services and Hartford. (Governed by Section 457 of Internal Revenue Code.) The limits change annually and the minimum contribution is $25.
  
  

• Flexible Spending Account (FSA)**

  Employees can establish separate flexible, tax-exempt accounts for eligible medical, dental, and vision care, as well as for dependent (child) care.
  
  

• Commuter Expense Reimbursement Account (CERA)**

  Similar to a flexible spending account, a CERA can cover qualified mass transit expenses, such as a transit pass or van pool.
  
  

• ReliaStar Life Insurance**

  This option offers voluntary term life insurance, accidental death and dismemberment, and optional dependent life insurance. Employees must enroll within 30 days from their hire date to be eligible to apply for the guaranteed issue of one times the employee's annual salary (rounded to the nearest $10,000) without being required to complete a health statement application. Additional life insurance in increments of $10,000 for coverage up to $500,000 may be purchased provided a health statement is completed. (A health statement application is required for coverage of an employee's spouse or domestic partner.)
  
  

• ARAG Legal Plan**

  Employees can receive certain legal services without deductibles or co-pays from a network of attorneys.
  
  

• UNUM Long-Term Care**

  Employees can receive long-term care at home or in a facility when the employee or a family member needs assistance with activities of daily living.
  
  

• Nationwide Automobile and Homeowners Insurance Plans**

  Employees can receive discounted insurance through this program.
  
  

• United States Series "E" Savings Bonds**

  Employees can purchase the bonds for college or savings.
  
  

• U.S. Bank Workplace Banking Program

  Through this program employees can receive discounts on checking accounts, loan services, and more.
  
  

• First Tech Credit Union membership

  Membership services include checking accounts, savings accounts, VISA credit, member financial services, and auto locator.
  
  

• Direct deposit

  SAIF's payroll department will work with credit unions and other financial institutions that have direct deposit capabilities. Credit unions and other financial institutions may have additional eligibility requirements for membership and loans.
  
  

• COSTCO Gold Card Memberships
  

  
  

• Fitness club corporate memberships**

  Employees can receive discounted fees and monthly dues at:
  
  • Courthouse Athletic Club (Salem-Keizer locations)
  • Gold's Gym (Salem-Keizer locations)
  • The Hoop (South Salem)
  • Curves for Women
  • Downtown Fitness Center (Salem)
    

• Entertainment discount programs

  Among the products available are the "Magic Kingdom Club Card" good for discounts at local Disney stores and discounts on admission for various theme parks and other attractions.
  
  

• WorkLife and health education program

  This program is designed to assist employees in balancing work and personal issues through flexible work schedules, a reference library, educational lunch presentations, and more.