BENEFIT PROGRAMS
CIBM Bank offers a comprehensive benefits package to its employees with the overall benefit program designed to help provide the protection employees need, now and in the future.
The following information describes the benefits available to CIBM Bank employees working 37.5 or more hours per week. Part-time employees working an average of 25 hours per week are eligible for limited benefits.
Medical
The CIBM Bank health plan is designed to provide employees and their eligible family members with extensive coverage and protection against certain medical expenses. CIBM Bank's PPO Plan allows employees to choose from a large national PPO network of doctors and receive comprehensive coverage for medically necessary treatment.
Dental
CIBM Bank's dental options are provided to help employees pay for the costs of dental care for themselves as well as their eligible family members. Participants may take advantage of reduced out-of-pocket costs when they use dentists in a network of participating providers.
Cafeteria 125 Flex Plan
With CIBM Bank's Flexible Spending Account Plan, employees may pre-tax insurance premiums such as health, dental, life, vision, and most AFLAC products. The plan also includes pre-tax basis allows employees to reduce their taxable income, and at the same time, increase disposable income.
Disability and Life Insurance
CIBM Bank's disability and life insurance benefits are designed to help employees provide financial security for their survivors in case of death or dismemberment.
- Life Insurance and Accidental Death & Dismemberment
- Spouse and Dependent Group Life
- Short Term Disability
- Long Term Disability (100% employer paid)
Savings and Investment Options
401(k) Plan
Employees are encouraged to begin preparing for the future early and are eligible to participate immediately upon hire. Employees are eligible to enroll/participate the first of the month following sixty days of employment. Eligible employees may contribute up to the maximum allowable limit of Code Sections 401(k) on a pretax basis. Discretionary matches may be made by CIBM Bank. Discretionary match contributions are vested at the rate of 20% per year and become 100% vested after 5 years.
CIBM Bank is an equal opportunity employer.
Disclaimer: Each benefit has its own eligibility requirements. CIBM Bank reserves the right to change or cancel its benefit programs at any time. The information above does not represent complete CIBM Bank policy statements. In case of any conflict or question, the official plan documents or applicable policies will govern.