Your Benefits: Benefits of Flexibility
Locke Lord recognizes two important things about its benefits program:
-
benefits are an integral part of your total compensation package
- no two people have the same needs at the same point in their lives
That’s why we have designed a benefits program with these two points in mind. Our plans are flexible and give you the choice to tailor your benefits package to meet your needs. In addition, the Firm has made a significant investment to make your benefits a tangible financial reward for you.
Read on to see how Locke Lord's carefully-designed program offers you a variety of benefit choices.
Eligibility Partners and employees scheduled for 30 or more hours per week are eligible for all Locke Lord benefits. Coverage is available to you, your spouse/domestic partner and/or your child(ren) up to the last day of the month they turn age 28.
When Benefits Start and End
| Benefit |
When do benefits start? |
When do benefits end? |
|
|
Team Members |
Partners |
All |
|
|
Medical |
Date of hire |
Date of hire |
Last day of the month you leave Locke Lord* |
|
Dental |
Date of hire |
Date of hire |
Last day of the month you leave Locke Lord* |
|
Basic Life & AD&D Insurance |
Date of hire |
Date of hire |
Your last day at work / Portable |
|
Supplemental Life Insurance |
Date of hire / or when approved |
Date of hire / or when approved |
Your last day at work / Portable |
|
Supplemental AD&D |
Date of hire / or when approved |
Date of hire / or when approved |
Your last day at work / Portable |
|
Business Travel Accident Insurance |
Date of hire |
Date of hire |
Your last day at work |
|
Short Term Disability |
Date of hire |
Not eligible |
Your last day at work |
|
Long Term Disability |
Date of hire |
Date of hire |
Your last day at work |
|
Supplemental Long Term Disability |
First open enrollment |
First open enrollment |
Your last day at work / Portable |
|
Health Care Flexible Spending Account |
Date of hire |
Not eligible |
Your last day at work* |
|
Commuter Benefits |
First of the month following date of hire |
First of the month following date of hire |
Your last day at work |
|
Dependent Care Flexible Spending Account |
Date of hire |
Not eligible |
Your last day at work |
|
Retirement Savings Plan |
First of the month following date of hire |
First of the month following date of hire |
Your last day at work |
|
Voluntary Vision Plan |
Date of hire |
Date of hire |
Last day of the month you leave Locke Lord* |
|
Employee Assistance Plan |
Date of hire |
Date of hire |
Your last day at work |
*You may be able to continue these benefits after you leave Locke Lord through COBRA. If eligible, you will receive COBRA information automatically.
Making Changes Generally, you can only change your benefit choices during the annual benefits open enrollment period. However, you can make changes within 30 days of a qualifying Life Status Event during the plan year. Life status changes include:
- your marriage; your divorce, legal separation or annulment
- birth, adoption or placement for adoption of an eligible child
- death of your spouse or covered child
- change in your or your spouse’s work status that affects benefits eligibility (for example: starting a new job, leaving a job, changing from part-time to full time, starting or returning from an unpaid leave of absence)
- change in residence or worksite that affects your eligibility for coverage (for example, moving out of a medical plan’s network area)
- a significant change in your or your spouse’s health coverage attributable to your spouse’s employment
- a change in your child’s eligibility for benefits
- becoming eligible for Medicare or Medicaid during the year
- receiving a Qualified Medical Child Support Order (QMCSO).
Your Costs (Team Members, Associates and Counsel)
|
Benefit |
Who pays the cost? |
Is your cost before-tax or after-tax? |
|
Medical |
The Firm and you |
Before-tax |
|
Dental |
The Firm and you |
Before-tax |
|
Basic Life & AD&D Insurance |
The Firm |
NA |
|
Supplemental Life Insurance |
You |
After-tax |
|
Business Travel Accident Insurance |
The Firm |
NA |
|
Short Term Disability |
The Firm |
NA |
|
Long Term Disability |
The Firm |
NA |
|
Flexible Spending Accounts |
You |
Before-tax |
|
Commuter Benefits |
You |
Before-tax |
|
Retirement Savings Plan |
You |
Before-tax and/or After-tax (Roth) |
|
Profit Sharing Plan (Team Members and certain Counsel - see SPD for eligibility) |
The Firm |
NA |
|
Voluntary Vision Plan |
You |
Before-tax |
|
Employee Assistance Program |
The Firm |
NA |
Taxes and Your Benefits Your benefit premiums or plan contributions can be deducted from your paycheck in two different ways: before tax and after tax.
- When your cost is deducted before taxes are calculated, the amount of your paycheck that can be taxed is lower. You save money because you pay less in taxes.
- When your cost is deducted after taxes are calculated, you also save money because the benefits you receive are not taxed. The government doesn’t tax both your premium and your benefit.
Remember, Locke Lord pays the full cost of your:
- Basic Life and Accident Insurance
- Business Travel Accident Insurance
- Short Term Disability
- Long Term Disability
- EAP
- Profit Sharing (if eligible)
If there is ever a question about this benefit, or if there is a conflict between the information in this summary and the formal language of the Plan documents, the formal wording in the Plan documents will govern. Please note the benefits described in this summary may be changed at any time and do not represent a contractual obligation on the part of Locke Lord LLP.
Wellness Program
