At Owens Corning, we provide you with an array of benefit choices. We know that one size doesn't fit all, so we've designed plans to give you the flexibility and choice that complement your individual lifestyle. Owens Corning is committed to providing an earnings opportunity that is market competitive with an excellent benefit package for all employees. Following is a summary of benefits offered to U.S Salaried Employees.
Owens Corning offers a range of health care choices. These choices include Medical, Dental and Vision plans as well as the Health Care and Dependent Care
Employees may choose from our Consumer Driven plans - the Aetna HealthFund 1 or 2, our Network Benefit Plan, Preferred Provider Organization or a Health Maintenance Organization (HMO), where available. Coverage is effective on the actual date of hire and contributions to the cost of the plan are based on your coverage level.
The company provides each employee with Basic Life Insurance. Employees have an option of purchasing additional coverage through our Voluntary Benefit Program which features Group Universal Life, Critical Illness, Auto / Home, Personal Accident and Long Term Care Insurance. Additionally, the company provides both Short Term and Long Term Disability protection when unexpected accidents and serious health conditions occur.
Owens Corning offers a 401(k) Savings Plan with a company provided match. Employees can contribute 1% - 50% of pay on a pre-tax or post-tax basis. The company will match 100% on any amount contributed up to 5% of eligible pay. You are immediately vested in this plan.
In addition to the 401(k) Savings Plan, each month benefits are earned under the Cash Balance Pension Plan. These benefits are calculated based on 4% of your eligible pay and interest credits are earned each month. Full vesting in the plan occurs after five years of service.
Owens Corning benefits also include an Employee Assistance Program (EAP), Wellness facilities (available at some locations), Flexible Work Arrangement, Tuition Reimbursement and an Adoption Assistance Program.
Vacation and Holidays:
Owens Corning has eleven paid holidays each calendar year and an annual vacation plan based on years of service. Participation in the vacation program begins on the actual date of hire and after six months, five days of paid vacation are earned. Five additional days are earned upon completion of the first year. Vacation days then increase on a schedule based on years of service with the company.
All benefits are subject to the terms and conditions of the governing legal plan documents. Owens Corning reserves the right to eliminate or modify these benefits, including eligibility requirements.