At Crown, we value our employees. We value their commitment, hard work and drive to succeed. We know the direct impact that satisfied employees can have on the Company's success and growth.
We also understand that a rewarding family and personal life is as important to our employees as a successful career. Our goal is to provide employees with the programs they need to balance personal and professional responsibilities. The benefits we offer can help employees achieve this balance.
With this in mind, Crown has developed one of the best total compensation programs in the packaging industry. We offer competitive salaries, comprehensive healthcare and income protection benefits, three retirement plans and paid time off. We encourage the best and brightest talent to share our future.
We reward our employees' hard work, and we provide our employees and their families with programs that will enhance their well-being and security.
Crown's Total Compensation Program
Compensation is more than just a paycheck for your work at Crown. Our total compensation package includes valuable health care, income protection and retirement benefits, as well as paid time off. All of these components are part of your total compensation package.
We realize that our business success is achieved through high-performing people working both individually and together to meet our goals and increase our value to our customers and shareholders. Our total compensation program reflects this philosophy.
COMPETITIVE CASH COMPENSATION
The most visible portion of the total compensation package is your paycheck. Our base salary program uses detailed market salary information to establish salary ranges that are appropriate within our various operations. As a Crown employee, future salary increases will be determined by your job performance, achievement of individual goals and your demonstration of the basic values that are critical to Crown's success.
EXTENSIVE HEALTHCARE COVERAGE
Crown provides comprehensive coverage that promotes good health and provides financial protection for you if you and your dependents become ill or injured. Crown pays 100% of the cost for your coverage. You contribute toward the cost only if you cover your dependents. Our package includes:
• Prescription Drugs
Income Protection Benefits
Crown's income protection benefits can provide you or your survivors with valuable income replacement in the event of your disability or death.
SALARY CONTINUATION PLAN
If you become sick or disabled and are unable to work, this plan replaces 100% of your base salary, based on your length of full-time service with Crown. Payment durations range from one week to three months.
ACCIDENT & HEALTH PLAN
After you have two years of service with Crown, you automatically receive additional disability coverage under the Accident and Health Plan. If you become disabled and have exhausted your Salary Continuation benefits, payments will continue under the Accident and Health Plan. The amount and duration of payment depends on your length of service.
LONG-TERM DISABILITY (LTD) PLAN
After one year of service, you may choose to purchase additional disability insurance through the Company-sponsored LTD Plan that provides an income equal to 50% or 60% (depending on your age, income and length of service) of your monthly pay up to a maximum monthly benefit of $12,000.
FAMILY AND MEDICAL LEAVE ACT (FMLA)
Crown provides eligible employees with appropriate leave in accordance with the Federal Family and Medical Leave Act (FMLA). Crown also complies with applicable state leave laws. Please contact us for a copy of the FMLA policy.
Crown provides both basic life insurance and accidental death and dismemberment (AD&D) benefits equal to your annual base salary at no cost to you. You may also purchase additional life insurance coverage for yourself and your spouse and children.
Your retirement may be years away, but it's never too early to start your retirement planning. Crown provides three plans to help supplement your retirement income.
BASIC PENSION PLAN
The Crown Basic Pension Plan is a competitive pension plan fully paid for by Crown - you don't have to contribute any money to the plan. You are eligible to participate in the Pension Plan once you reach age 21 and complete one full year of service. The plan will provide you with a benefit for life if you have at least five years of plan participation when you retire.
Our matched 401(k) retirement Savings Plan allows you to save for the future on a tax-deferred basis. You are eligible to participate after 30 days of employment.
EMPLOYEE STOCK PURCHASE PLAN
Crown employees can invest in the Company's success through the Employee Stock Purchase Plan. After you have completed one year of service, you are eligible to purchase Company stock at a discounted rate through payroll deduction.
Paid Time-off Programs
Crown offers a vacation program based on your length of service. The longer your career is with Crown, the greater your vacation benefit becomes.
Crown recognizes most publicly observed holidays. The holiday schedule is determined by senior management and announced each December for the following year.
Other Important Benefits
This program provides you with financial assistance to further your education and enhance your career development. The tuition assistance program reimburses you for registration, lab fees, tuition and books for job-related courses. Crown also supports your growth and development through internal training and professional development opportunities.
FLEXIBLE SPENDING ACCOUNTS
Crown offers two Flexible Spending Accounts, the Health Care Reimbursement Account and Dependent Care Reimbursement Account, that let you pay for certain health care and dependent care expenses with before-tax dollars, providing you with tax advantages. These are voluntary benefits.
A Final Note
Crown provides a broad range of benefits for you and your family. This information provides you an overview of healthcare, retirement and other benefits available through Crown. New employees will receive additional information and details about these plans during the orientation program. Employees will also receive a comprehensive package of benefits information called Summary Plan Descriptions (SPDs) for each benefit program. The Company reserves the right to change, modify or terminate any or all of its benefit plans in accordance with its terms.