Salaried Benefits at Hensel Phelps

Company Funded Benefits For Salaried Personnel

Click on one of the benefits listed on the left for an extended summary.

* The actual terms and conditions of these benefits are governed by official plan documents and current Hensel Phelps Construction Co. policies.

Preferred Provider Health Plan

This package includes medical coverage for you and your dependents with no annual deductible. There is only a $15 co-pay for in-network services and $10/$15 per pharmacy prescription.

Life Insurance and Accidental Death Benefits

In addition to your medical benefits, Hensel Phelps Construction Co. provides you with life insurance coverage and accidental death and dismemberment (AD&D) benefits of up to $150,000. AD&D coverage pays a benefit in addition to your life insurance if you die as the result of an accident.

Long Term Disability Insurance

This coverage helps to protect your income if you become disabled because of a sickness or injury. This benefit will help you and your family meet your day-to-day living expenses by providing guaranteed monthly income benefits equal to 60% of your basic monthly income to a maximum of $10,000 per month.

Optional Dental Plan

Hensel Phelps Construction Co. offers an optional dental plan for you and your family at affordable group rates. This plan offers at no additional charge most exams, x-rays, cleanings and fillings. Major dental care is covered at set co-payments so you know up front what your dental services are going to cost you. This optional Dental Health Plan also covers orthodontics (braces) for adults and children.

Health Care and Dependent Care Reimbursement Accounts

Reimbursement Accounts, also known as Flexible Spending Accounts, enable you to set aside a predetermined dollar amount in an account to cover eligible out-of-pocket health care or dependent care expenses throughout the year. IRS rules allow you to contribute to your account(s) through payroll deduction on a pre-tax basis. Then, as needed, you can withdraw funds from your account(s) to reimburse yourself for the eligible expenses you've paid.

Voluntary Payroll Savings Plan

Hensel Phelps Construction Co., in conjunction with PaineWebber and Prudential, offers two different voluntary payroll saving plans to assist you in accumulating funds for retirement, education, a house purchase or for achieving any financial goal.

Salaried Employee Qualified Retirement Plan

Hensel Phelps Construction Co. is pleased to offer our employees a company Qualified Retirement Plan. This plan allows you to accumulate retirement savings through 100% employer contributions, unlike comparable plans or 401K plans that may require employee contributions. Some advantages of the plan include:

• Investment flexibility with your choice of professionally
   managed investment funds.
• Hensel Phelps Construction Co. contributions, which over the past
   10 years have averaged 15% of the employee's gross salary.
• Deferred taxes on all investment earnings.
• Special tax treatment on lump sum distributions if certain
   conditions are met.
• 401K feature for qualifying employees.

Salaried employees with a minimum of 12 months of service are eligible to participate in the plan.

S - Units / Deferred Compensation

Hensel Phelps Construction Co. offers a deferred compensation plan. The plan is designed to attract and maintain an outstanding group of management employees to further the long-term success of Hensel Phelps Construction Co. by permitting them to share in Hensel Phelps' future financial success and growth. Salaried employees of Hensel Phelps who have completed two years of service with the company, and who hold any one of the following positions are eligible to participate in the plan:

• Project Manager
• Estimator
• Superintendent
• Area Superintendent
• Engineer

Annual Bonuses

Hensel Phelps Construction Co. also offers an incentive bonus program for salaried employees working at or above the Area Superintendent and Lead Estimator levels. This performance-based bonus program evaluates the degree to which the individual has satisfied his or her performance goals relating to items such as safety, schedules, cost, personal development, or work procurement goals. Bonus eligibility varies between 5% and 20% of an employee's base salary.

Performance Evaluations & Salary Reviews

New hires are evaluated twice per year for the first two years, then annually thereafter. These performance evaluations offer a two-way communication, focusing on areas requiring improvement, successes enjoyed, and an evaluation of career goals and objectives.

All salaried employees are reviewed annually. Pay increases for merit or promotion may be given at any time based on performance.

Holidays and Vacation

Six holidays plus the day after Thanksgiving are observed: New Year's Day, Memorial Day, the Fourth of July, Labor Day, Thanksgiving, and Christmas.

Two weeks of vacation a year are given after the first calendar year of service. However, if you work less than 12 months during the first calendar year of employment, your vacation will be pro-rated. Three weeks of vacation are given after five years of service. Four weeks of vacation are given after ten years of service.