TEOCO provides a generous benefits package that includes not only standard benefits but also many valuable and creative benefits that support employee-owners' work-life balance.
- Health, Dental, Vision - a preferred provider option (PPO) health plan, along with dental and vision coverage, effective on date of hire.
- Income Protection - life, short-term, and long-term disability insurance, along with health and dependent care flexible spending accounts, supplemental short-term disability coverage, and sick, maternity, paternity and adoptive leave
- Wellness Program - on-site health screenings, online health modules and trackers, plus incentives for healthy living
- Retirement Program - a 401(K) plan with company matching
- Work Life - TEOCO observes many federal holidays and provides employees with a personal "floating holiday." Employees also receive three weeks (fifteen days) of paid vacation each year
- Training and Development - reimbursement for approved courses, up to a set annual limit, along with our internal, employee-led TEOCO University classes
- Rewards and Recognition - a comprehensive recognition program ranging from "spot" awards to prestigious company-wide honors
- Additional Employee Programs - many additional offerings including: charitable contribution matching, an on-site fitness center, deli and dry cleaning service (Fairfax, VA location only), complimentary drinks and snacks, plus free parking
TEOCO Health, Dental and Vision Benefits
- Medical Coverage -- Medical coverage is effective on date of hire. TEOCO offers a preferred provider option (PPO) plan. In-network coverage is 100% after a co-payment ($10 physicians, $20 specialists). Routine physical and Well Baby Care are covered in full. Dependent children are covered until age 19, or 25 if they are full-time students. Benefits include a prescription card benefit of $10 for generic, $20 for brand name formulary, and $35 for brand name non-formulary. In addition, a 90 day supply is available through mail order at a reduced cost.
- Dental -- Dental coverage is effective on date of hire. Preventive services are covered at 100%, with basic services covered at 80% and major services covered at 50%. Orthodontia is covered at 50% (up to age 19). The maximum annual dental benefit: $1,500 with an annual deductible $50 for individuals $150 for family.
- Vision -- Dental coverage is effective on date of hire. Coverage includes an annual vision exam ($10 co-pay). In addition, employees are eligible to receive new lenses once per calendar year and new frames every 2 years ($25 co-pay). Discounts are also available for contact lenses and exams and laser vision correction.
TEOCO Income Protection Benefits
- Life, Accidental Death and Dismemberment Insurance -- Employees receive coverage in the amount of $50,000 at no cost
- Supplemental Life Insurance -- Employees can purchase up to five times salary to a maximum of $300,000 for themselves, and up to 50% of their coverage amount for a spouse
- Short Term Disability -- Employees receive coverage at no cost. Employees receive 70% of their base salary up to a maximum of $1,000 per week for covered illnesses and injuries. Benefits are payable up to 13 weeks. In addition, employees that have been employed for over a year receive the remaining 30% of their base salary as supplemental short term disability
- Long Term Disability -- Employees receive coverage at no cost. Employees receive 66.67% of their base salary, up to $5,000/month for extended covered illnesses and injuries
- Flexible Spending Account (FSA) -- Employees may enroll in a health care FSA and/or dependent care FSA. This allows employees to set aside (via pre-tax payroll deductions) up to $5,000 for each account per calendar year to pay for medical and/or dependent care expenses
TEOCO Wellness Program
- TEOCO has partnered with SimplyWell to provide a comprehensive wellness program that includes an on-line health risk assessment, on-site health screening, education tools, health trackers, nurse follow-up, 24 hour nurse support, and online access to your health and lab records.
To keep you active and committed to wellness the program provides incentives to reward you for maintaining good health (routine exercise, proper diet, etc). Incentives include items such as exercise equipment, gym bag, workout towels; apparel such as dri-fit shirts, fleece vest, and cash!
Some TEOCO sponsored wellness events include; Walking Works, LunchWell, HealthTrak Challenge, and more!
TEOCO Retirement Program
- 401K Plan -- Employees are eligible to participate at the beginning of each quarter following date of hire. Employees may contribute up to 25% of their base salary up to the IRS limit. The plan includes provisions for loans and hardship withdrawals.
- Employee Stock Option Plan (ESOP) -- TEOCO contributes 1% of eligible salary and matches 50% up to the first 6% of the employee's contribution to the 401(k) in company stock through our ESOP, with vesting after 2 years of employment.
TEOCO Work Life
- Holidays -- TEOCO observes the following 7 designated holidays per calendar year: New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Day after Thanksgiving, Christmas Day and 1 floating holiday.
- Vacation -- Employees accrue 3 weeks (15 days) of paid vacation per year.
- 5 & 10 Year Service "Splash" Vacation -- When an employee completes 5 and 10 years of service, they are eligible to take 1 week of paid vacation. In addition, they receive $2,000 to pay for vacation related expenses.
- Sick Leave -- Unlimited sick leave based on the honor system; can also be used to care for immediate dependents.
- Maternity Leave -- TEOCO pays the employee's salary for the first two weeks until short term disability takes effect.
- Paternity Leave -- Birth fathers are eligible for one week of paid leave to be taken within the first 30 days following the birth of child. Full and part time employees are eligible after one year of service.
- Adoptive Leave -- Adoptive parents are eligible for one week of paid leave to be taken within the first 30 days following the adoption of child. Full and part time employees are eligible after one year of service.
- Bereavement Leave -- Bereavement Leave is available in the event of the death of an immediate family member.
- Jury Duty -- Employees will receive continuation of salary while serving on jury duty.
TEOCO Training and Development
- Tuition Reimbursement -- TEOCO supplements the cost of profession-related degree and certification programs. Employees are reimbursed up to $3,000 annually (max $1,500 per course).
- TEOCO University (ESOP) -- TEOCO University is a structured internal training program, which offers approximately 35 courses on valuable technical and business topics. All courses are employee-led.
TEOCO Rewards and Recognition
TEOCO has several ways to formally recognize employees based on exceptional performance and years of service. Examples include Recognition Levels, Spot Awards, ACE, MVP, TEO-Star, and "Splash" Vacations.
- ACE Award -- In recognition of Attitude, Commitment and Excellence, TEOCO has created the ACE award. Announced at TEOCO's annual party each January, the recipient is awarded 2,000 TEOCO stock shares, a cash reward of $500 and a premium parking space for one year. Since this is an award "for life", previous recipients of the ACE Award cannot win again.
- MVP Award -- In recognition of the employee-owner most willing to take on various tasks and do "whatever it takes" to do the job, TEOCO has created the MVP award. Some of the key dimensions of this award include:
- Creating new products/services or taking existing products/services to a new level
- Playing a critical role in attracting and retaining top talent
- Playing an instrumental role in the success of a line-of-business or the company
- VIP Award -- The VIP award is given to individuals who have significantly contributed to TEOCO over a length of time. The Chairman of the Board determines the recipient of this award, as deemed appropriate. The award is $10,000.
- TEO Star -- TEOSTARS is designed to increase the awareness and practice of TEOCO Core Values by recognizing behaviors consistent with the Core Values.
- E3 Award -- E3 stands for Empowerment, Employee-ownership and Excellence. This award is company wide and given as appropriate by a Team Leader or peer for exhibiting extra effort on a project, leadership/ownership, and/or innovative Problem Solving. Award recipients will receive either a $25 or $50 gift check.
Additional Employee Programs
- TEO-Tots -- TEOCO contributes a total of $2,500 over 5 years into a custodial account or an educational IRA to newly born and/or adopted children of TEOCO employees.
- Charitable Contributions -- TEOCO will double (200%) any employee contribution/donation to a charitable organization up to $100 annually.
- Purchase Agreement Plan -- TEOCO provides all employees with standard office tools/equipment. If an employee would like a non-standard tool to increase productivity, the company will reimburse 80% of the cost (up to $300).
- Employee Referral Bonus -- Employees are eligible to receive a $1000 referral bonus if they refer someone who is hired.
- Fitness Center -- Employees have access to a fitness center in the building at no cost.
- On-site Deli and ATM -- Employees have access to an on-site Deli and ATM Machine.
- Free Parking -- Employees park free in a covered parking garage.
- Complimentary Snacks and Drinks -- TEOCO provides a variety of soft drinks, snacks and juices to their employees.