Benefits
As an employee with CommonBond Communities, you’ll receive a strong compensation and benefits package including competitive pay, medical, dental, life and disability coverage, a 401K retirement plan, and personal time off.
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CommonBond's personal benefits include:
- Paid time off
- 11 holidays with pay
- A direct deposit option for your earnings.
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Personal Benefits
PTO (Personal Time Off)
PTO allows the opportunity for employees to balance their work and personal life. PTO can be used for vacations, holidays, illness and personal days – however the time best fits your needs. Accrual begins as of the first day of regular employment. Year-end carryover is limited to one full year’s accrual at the employee’s current accrual rate. Employees working less than 40 hours per week earn a prorated amount of PTO.
Holidays
The following is a list of holidays recognized by CommonBond Communities. Eligible employees will be given the day off with pay.
| Paid Holidays |
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New Year’s Day
Martin Luther King Day
Presidents Day
Spring Holiday (Friday)
Memorial Day |
Independence Day
Labor Day
Thanksgiving Day and the day after Thanksgiving
Winter Holiday Dec. 24
Winter Holiday Dec. 25 |
| Leaves of Absence |
| Paid |
Unpaid |
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Jury Duty
Funeral Leave
Military Leave
Voting Leave |
Personal Leave
Parenting Leave
12 Weeks Family and Medical Leave
16 hours to attend school-related functions |
Payroll CommonBond employees are paid every other Friday for a total of 26 paychecks per year. Employees have the option to directly deposit their net earnings in up to three checking or savings accounts.
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CommonBond's insurance benefits include:
- A health insurance plan and health savings account, or HSA.
- A cafeteria benefits package that allows you to choose and pay for only the benefits you want.
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Insurance Benefits
Active, regular fulltime employees working 32 or more hours per week are eligible for insurance benefits the first of the month following 30 days of employment.
Cafeteria Plan
CommonBond has joined a growing number of employers who see the wisdom in helping employees tailor their benefits package to suit their individual needs. Employer contributions within a Cafeteria Plan are referred to as benefit credits. Benefit credits will be used to pay premiums for the insurance selections made by the employee. If the total cost of the premiums is above the employee’s benefit credit allotment, he/she must pay the balance of the premiums through payroll deduction.
Health - Medica
CommonBond Communities offers a high deductible health plan (HDHP) in conjunction with a Health Savings Account (HSA). All services, except preventative, are subject to the deductible including pharmaceutical. Preventative treatment is covered at 100%. The employee must satisfy the deductible before the insurance company begins paying on claims.
Employees must prove group medical coverage through a spouse’s employer-sponsored group plan or Medicare in order to waive medical insurance.
Health Savings Accounts – Wells Fargo
A Health Savings Account (HSA) provides an opportunity to set aside money on a pre-tax basis in a tax-sheltered trust account. Contributions may be made through regular pre-tax payroll deductions, lump sum pre-tax deductions, or after-tax contributions. In addition, CommonBond Communities will contribute to the employee’s HSA quarterly based on participation in the company’s Wellness Program. Employees must complete various wellness activities and earn points each quarter to be eligible for an HSA contribution.
Dental – Met Life
This is a voluntary benefit for employees and their family. Preventive and basic services are covered at 100% and major services are covered at 60% up to a $1,000 plan year maximum at participating in-network dental clinics.
Life and Accidental Death & Dismemberment - Unum
Required election is $50,000.
Long-Term Disability - Unum
60% of pre-disability wages payable after 90 days of continuous disability (premium is employee paid).
Short-Term Disability - Unum
Coverage is 60% weekly gross compensation up to $800/week (premium is employee paid).
Voluntary Life and Accidental Death & Dismemberment– Unum
Life insurance and accidental death and dismemberment coverage is available for employee, spouse and/or dependent children (premium is employee paid).
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CommonBond's additional benefits include:
- Health and child care flexible spending accounts.
- An employee assistance program
- A 401k program.s.
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Additional Benefits
CommonBond Wellness Program – Embracing Our Path to Wellness
The mission of our Wellness Program is to improve your quality of life through better health, nutrition, and fitness while encouraging personal growth and self-improvement. This program will enable you to be your best by helping you effectively manage stress and anxiety, lead an active lifestyle, achieve short and long-term health goals, and save money on future healthcare. expenses!
This Wellness Program encompasses a variety of ala Carte activities for employees to partake. Points are awarded for participating and if the goal is met, the employee will earn the quarterly incentive. Activities are focused on four core wellness areas: stress reduction, physical fitness, nutrition, and smoking cessation.
Employee Assistance Program (EAP)
CommonBond is happy to introduce a work-life balance employee assistance program (EAP), part of your long-term disability insurance provided through Unum. It can be difficult to balance the demands of work with those of your personal life. The work-life balance EAP is here to help. It provides unlimited telephone consultations with master's-level consultants, web-based tools and online information for you and anyone in your family who needs help.
401(k) Tax Deferred Retirement Savings Plan – Alerus Financial
Regular employees are eligible for coverage the first of the month following 6 months of employment. Temporary employees are eligible after 1 year of employment. Plan allows for pre-tax salary deferrals up to the maximum allowable under law. Corporate match is 50% of first 6% of wages an employee contributes and is deposited quarterly. To receive a matching contribution, the employee must be actively employed on the last day of each quarter.
Healthcare Flexible Spending Accounts – Optum Health Financial
Employees may only elect to participate in a limited scope Healthcare Flexible Spending Account if they have elected to participate in the Health Savings Account option. This Healthcare Flexible Spending Account is limited to reimbursements for vision and dental (including orthodontic) expenses for anyone contributing to a Health Savings Account. The full scope Healthcare Flexible Spending Account is a benefit that covers many types of medical-care services, which may not be included in certain medical and dental insurance plans and is available to employees who do not participate in a Health Savings Account. In both the limited and full scope FSA expenses are paid for with pre-tax dollars.
Dependent Care Flexible Spending Accounts– Optum Health Financial
Child care or dependent care services will qualify for reimbursement under the plan if they meet federal guidelines.
