© 2008, Praxis, Inc.
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Wherever you are in your career — just starting out or a seasoned professional — your benefits represent an important part of your overall compensation. Eligible Praxis employees are provided a wide range of benefits. A number of the programs (such as Social Security, workers' compensation, and unemployment insurance) cover all employees in the manner prescribed by law. Benefits eligibility depends on a variety of factors, including Personnel Category (full time; part time, benefits eligible; part time, limited benefits; part time, non-benefits eligible; and per diem hourly). The following paragraphs summarize Praxis's comprehensive benefits package.
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Health Insurance
Life Insurance and Accidental Death and Dismemberment Insurance
Short- and Long-Term Disability
Paid Leave
Educational Assistance
401(k) Retirement Savings Plan
Overtime Pay
Employee Assistance Program
Credit Union Membership
Pay Periods
Performance and Salary Evaluations
Company Events
At-Will Employer
1. Health Insurance
Praxis offers health insurance to its eligible employees and their dependents. Health insurance includes medical insurance, dental insurance, a prescription plan, and vision insurance. Praxis pays 70% of the premium cost for the health insurance. The employee's share of the premium cost is deducted from the employee's salary before taxes, reducing their taxable income.
1.1 Medical Insurance
Eligible employees can participate in the Point of Service, Open Access (POS-OA) Plan or the Health Maintenance Organization (HMO) Plan. Coverage of eligible employees and their dependents becomes effective the first day of the month following employment.
- POS-OA Plan: Employees can use providers that are in-network or out-of-network.
- HMO Plan: Employees must visit an in-network provider; out-of-network services are not covered.
1.2 Dental Insurance
Dental insurance is offered to eligible employees and their dependents. Eligible employees can participate in the provider network or can choose providers outside of the network, whereupon services will be covered at a lower percentage.
1.3 Prescription Plan
The medical insurance plan includes a prescription plan. Co-pays are determined by which tier the particular drug falls under in the formulary.
1.4 Vision Insurance
The medical insurance plan includes vision coverage. Praxis also offers eligible employees optional comprehensive vision insurance.
2. Life Insurance and Accidental Death and Dismemberment Insurance
Life Insurance and Accidental Death and Dismemberment Insurance are provided without cost to the employee. Coverage for eligible employees becomes effective the first day of employment.
3. Short- and Long-Term Disability
Short- and long-term disability plans provide salary continuance in case of accident or illness. Coverage for eligible employees becomes effective the first day of employment and is provided without cost to the employee.
4. Paid Leave
Praxis provides paid holiday leave to eligible employees. Eligible employees also accrue Annual Personal Leave. Annual Personal Leave can be used for a variety of reasons including vacation, appointments, and sick days.
5. Educational Assistance
Praxis offers educational assistance for eligible employees taking job-related courses at an accredited educational institution. Praxis offers this assistance for undergraduate as well as graduate degrees.
6. 401(k) Retirement Savings Plan
Praxis maintains a 401(k) retirement savings plan (the Plan) for eligible employees. Employee contributions to the Plan are taken from pre-tax salary and are not taxed until withdrawn. Praxis makes matching contributions up to a maximum amount based on the eligible employee's total contribution to the plan.
Praxis may make annual discretionary profit sharing contributions to the Plan for eligible employees in accordance with Internal Revenue Service regulations.
7. Overtime Compensation
Exempt employees working approved overtime can choose to be compensated in one of two ways: (1) pay at their regular hourly rate for actual hours worked in excess of 40 in a workweek; or (2) compensatory time off equal to the number of hours actually worked in excess of 40 in a workweek.
Non-exempt employees working overtime are compensated in accordance with the applicable portions of the Fair Labor Standards Act (FLSA) and the labor laws of the Commonwealth of Virginia.
8. Employee Assistance Program
This confidential service is available 7 days a week, 24 hours a day and provides assistance with parenting and child care, relationships, emotional welfare, work and career, and legal and financial problems.
9. Credit Union Membership
Praxis employees are eligible for membership in the CommonWealth One Federal Credit Union and the Naval Research Laboratory Federal Credit Union.
10. Pay Periods
Praxis employees are paid every two weeks, generally on a Monday. Holidays may affect this schedule, at which time the paychecks will be distributed on the following day.
11. Performance and Salary Evaluations
Praxis reviews new employee's performance after 3 months. Praxis reviews each employee's performance and salary anually.
12. Company Events
Praxis sponsors social events during the course of the year, including an annual picnic featuring food, sporting events, and activities for employees and their family members, and an annual holiday gathering for employees.
13. At-Will Employer
Praxis operates under the at-will employment philosophy, which means that an employment relationship exists only as long as both parties, the employer and employee, agree to continue it. Either party may terminate the relationship at any time and for any reason. Employment arrangements are based on current and projected needs of our business and Praxis does not offer guaranteed employment to employees.
Praxis, Inc. is an equal opportunity employer and does not discriminate on the basis of race, color, gender, religion, age, sexual orientation, national or ethnic origin, disability, marital status, veteran status, or any other occupationally irrelevant criteria. Praxis, Inc. promotes affirmative action for minorities, women, disabled persons, and veterans.
Praxis, Inc. is a smoke-free environment and prohibits smoking in all facilities.
Praxis, Inc. is a drug-free workplace.