Core Benefits
The bank provides core benefits at no cost to you. As a new employee, you are automatically covered by the Preferred Provider Organization (PPO) medical plan during the first two months of employment. After two months, you are eligible to choose from a variety of medical, dental, and life/accident insurance benefits.
401(k) Retirement Plans
When hired, you will be eligible to enroll in our 401(k) plan. The 401(k) plan offers these benefits:
- The bank matches $.50 for every pre-tax dollar you contribute up to 6 percent of your pay, and all contributions vest immediately
- The plan permits before- and after-tax deferrals of up to 25 percent of annual pay
- Annually the bank may provide a discretionary profit-sharing contribution
Retirement Plan (Pension)
All employees at least 21 years old with a minimum of 1,000 hours of service automatically participate in the company-sponsored, defined-benefit retirement plan. Features include:
- As an employee, you become 100 percent vested after five years of service
- The plan pays approximately 1.7 percent of your final average pay times years of service (maximum 35 years), minus a slight offset for Social Security
- The bank carries the full cost of this benefit
Retiree Medical Plan
- Available to eligible employees
- We pay benefits for normal/early retirement, disability or death, and as early as age 55 if the employee's benefits are vested
Optional Benefits
Union Bank also offers a variety of optional benefits, with costs shared by the bank and employee or entirely paid by the employee:
- Supplemental life and accident insurance for family members or dependents
- Pre-tax and after-tax flexible spending accounts for dependent care and medical expenses
- Vacation buying: full-time employees can buy up to 40 extra hours; part-time employees can buy up to their regularly scheduled weekly hours
- Employee purchase program: Union Bank employees are eligible for discounts on auto loans and leases; computer equipment; and cell phone service plans, devices, and accessories
Continuing Training & Education
- Tuition reimbursement, up to $2,500 annually, for most classes at an accredited institution
- MySuccess: an extensive library of self-service, online training that is available to you to enhance your skills