| Employee-Benefits |
| Marco offers the following benefits to its employees: |
| Employee Stock Ownership Plan (ESOP) |
What is an ESOP? The purpose of an Employee Stock Ownership Plan is to reward eligible employees for long-term and loyal service by providing them with retirement benefits. The Plan is designed to allow employees to share in the ownership of the company during active employment – which means each and every employee is instrumental in making Marco successful.
Marco is currently 100% owned by its employees. Employees become eligible for Marco’s ESOP following one year of employment (1,000 hours minimum after one year). Each year eligible employees receive a value of Marco stock in proportion to their fiscal year earnings. Marco employees have received $13 million in company stock since the company become employee-owned in 1989. |
| 401k Plan |
| Employees are eligible to participate in Marco's 401k Plan the first of the month following 3 months of employment. The 401k Plan allows employees to defer up to 60% of their gross earnings per plan year to help save for retirement. |
| Personal Days |
| Full-time employees (minimum of 2,080 hours worked per year) begin earning 7-1/2 personal days after 6 months of employment and accrue 15 days after the first year of employment. Part-time employees begin earning personal days after one year of employment based on hours worked over their previous anniversary year. Personal days do not apply to sales representatives. |
| Holiday Pay |
| Marco is closed in observance of the following holidays: New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Christmas Day, and Good Friday (p.m. only). |
| Funeral Pay |
| Employees are allowed up to 5 days with pay in case of death in their immediate family and up to 3 days with pay in case of death of other family members. |
| Military Leave |
| Employees who are members of the National Guard or Reserve component of any branch of the armed services will be granted a military leave of absence for temporary active duty or field training. |
| Jury Duty |
| When employees are summoned to jury duty, Marco will pay the difference between the amount employees receive as a juror and the regular wages they would have received if not required to serve on a jury. |
| Parental Leave of Absence |
| Marco self insures doctor authorized parental leave. This benefit begins on the first day of absence (birth of child) from work to provide employees up to 6 weeks of benefits at 50% of their base pay or a maximum of $2,000 per month. |
| Direct Deposit |
| Marco offers convenient and time saving direct deposit to credit funds to employees on payday and ensure that the funds are immediately available. |
| Medical Insurance |
| For employees that regularly and consistently work 30 hours per week, every week during the year, Marco will pay a portion of the employee’s medical insurance policy starting on the first month following 30 days of employment. As an option, employees can cover their entire family under the same policy. |
| Dental Insurance |
| For employees that regularly and consistently work 30 hours per week, every week during the year, Marco will pay a portion of the cost of the employee’s dental insurance premium starting on the first month following 30 days of employment. As an option, employees can cover their entire family under the same policy, paying the cost of the dependent portion of the premium. |
| Short Term and Long Term Disability |
| Marco self insures short term doctor authorized disability to provide up to 13 weeks of benefits if an employee suffers an accident or illness while not on the job. These benefits begin on the first day of the accident or eighth calendar day of absence from work because of an illness. Long term benefits begin 90 days after an employee’s effective disability date. Employees who work at least 30 hours per week are eligible for both long term and short term disability on the first of the month following 3 months of continuous employment. |
| Life Insurance |
| After 1 month of employment, full-time employees receive a life and dismemberment insurance policy of $30,000 term insurance as extra protection for their families. Marco pays all premiums for this group insurance policy. |
| Voluntary Term Life Insurance |
| As an option, Marco offers a voluntary term life insurance plan which allows employees to purchase additional life insurance for themself, spouse, and/or children. Employees have a total of 30 options ranging from $10,000 to $300,000. |
| Cafeteria Plan |
| Employees that regularly and consistently work 30 hours per week are eligible to take advantage of Marco’s Cafeteria Plan following 30 days of employment. This program allows employees to pay certain tax deductible expenses (currently Marco medical and dental insurance premiums, medical, dental, and optical expenses not reimbursed by insurance, and child care costs) with pretax dollars. |
| Employee Purchase Program |
| After 90 days of employment, Marco offers employees the opportunity to purchase computers and home furnishings for themselves and their immediate household family. Marco will finance 80% of the purchase interest-free through payroll deductions, depending on amount of purchase. |
| Employee Discounts on Purchases |
| After 90 days of employment, employees are entitled to a discount on all purchases from Marco for themselves or an immediate household family member. An employee’s purchase price is 10% over loaded cost on new equipment and 10% over market value on used equipment plus sales tax. Employees are also eligible for corporate discounts at many other area businesses. |
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