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Benefits components

IBM Canada offers a wide portfolio of benefits. Many are provided to all employees at no employee cost such as:

Pension plan
You are enrolled at a 0% contribution level on the first pay period following your date of hire and you may choose to contribute 1%, 2%, 3% or 4% of your pensionable earnings to your DC match plan account. If you choose to contribute to the plan, IBM will match your contributions dollar for dollar, to a maximum of 4% of your pensionable earnings. You can direct these contributions to one fund or a combination -- you choose! For example, if your starting salary with IBM is $40,000 and you choose to contribute 4%, IBM will match dollar for dollar your $1,600 pension contribution. You may also change your contribution rate at any time. Arrangements have been made with five different fund managers to provide 13 investment options. If you choose not to contribute to the plan, you will not receive any matching contributions from IBM.

Vacation and holidays
Immediately upon joining IBM, you will receive three weeks of paid vacation. After 10 years of service this will be increased to 4 weeks, and to five weeks after 20 years. We also observe 12 holidays each year. In total, a new employee joining IBM has 27 days (5 1/2 weeks) of vacation and holidays per year.

Business travel insurance
The Business Travel Insurance plan provides benefits to you or your family in the event of accidental injury resulting in death, dismemberment or loss of sight or hearing when traveling on company business.

Short-term disability insurance
If you become ill or injured, this plan can provide 100% of your pay for a minimum of 4 weeks. After 4 weeks, depending on your years of service, you will receive either 100% or 66.67% of your bi-weekly salary or salary equivalent for each day absent to a maximum of 6 months (please refer the HR Intranet Site for complete details).

Flexible medical, dental and insurance benefits

Recognizing the diversity of our employees, flexible benefits are offered to provide you with the opportunity to tailor a benefits package that is best suited to you and your family. You choose from a variety of options that range from extensive coverage to basic, or no coverage. The choice is yours!

Each year IBM Canada will provide you with an amount of flex dollars to help pay for the flexible benefits in your portfolio. Each benefit option will have a price tag -- the cost to you for that option. If the options you select cost more than your available flex dollars, you will make up the difference with payroll deductions. If you have flex dollars leftover after making your choices, you can either take them as taxable cash, or deposit them in the Health Care Expense Account (HCEA). The HCEA allows you to use leftover flex dollars to pay for other eligible health care expenses.

The flexible benefits offered include:

Supplemental health
In addition to the basic level of coverage provided by provincial health care plans, IBM Canada offers several supplemental health options for you to choose from. These options offer a wide range of coverage for prescription drugs, hospital room, vision and hearing care.

The flexible benefits program offers several dental options which provide different levels of coverage for routine, preventive, restorative and orthodontic services. You choose the coverage which best meets your needs and the needs of your family.

Life insurance
In addition to a basic level of coverage IBM provides to all employees, you can increase the amount of life insurance coverage you have. As well as employee coverage, life insurance for your spouse and/or child is also available.

Accidental death and dismemberment insurance (AD&D)
AD&D insurance pays a benefit if you die or are seriously injured as the result of an accident. You may cover yourself, your spouse and/or your children.

Long-term disability insurance (LTD)
LTD coverage continues a portion of your income if you are disabled beyond the six months for which you receive short-term disability benefits. In addition to the basic level of coverage which IBM Canada provides to all employees, you may choose a higher level of coverage and/or coverage from two different plans. One plan provides income with is taxable, the other plan's income is non-taxable.

Extra plans & programs at IBM

Group saving
Provides employees with an opportunity to voluntarily contribute toward their future financial security. There is a choice of 7 investment funds and 3 types of accounts - RRSP, RRSP spousal and non tax effective savings. Contributions may be made through payroll deductions, lump sum payment or transfer. Payroll deductions can be started, stopped or changed at any time.

Employee assistance
A voluntary, confidential professional counseling service that provides assistance in dealing with a wide variety of personal and work related concerns.

Adoption assistance
IBM will reimburse 80% of eligible charges up to a maximum of $5,000 (effective Sept.1, 2007) for each adoption per family.

Leave of absence
Educational, Personal, Pregnancy (incl. IBM Maternity Supplementary Benefits), Parental, Compassionate Care, Opportunity & Military Peacetime Training.

Purchase plan
Employees may purchase IBM products for personal home use at employee discount prices.

Group home and automobile insurance
Employees may purchase insurance and receive premiums based on group discounts not normally available to the general public.

Matching grants
IBM matches your donations to hospitals or institutions of higher education up to $5,000 per institution per year to an overall maximum of $25,000 per year.

Fund for community service
Recognizes employee volunteer service in community organizations which assist the disadvantaged, Canadian non-profit/registered charitable organization in support of your volunteer service to that organization.

And there is more...

Individual work schedules
Provides employees with the flexibility to accommodate appointments, car pools, day care hours and other personal needs by adjusting their begin and end work hours by up to 2 1/2 hours.

(employee initiated and management approved)
Provides the opportunity for employees to vary the standard work day, i.e. the work week can be compressed to 4 days or stretched to 6 days.

Flexiplace may enable employees to perform some of their work from places other than their designated work location. This program enables employees to perform work from multiple sites such as home and customer location(s).