At Guilford Pharmaceuticals, we strongly believe that each of our employees make a difference in the lives of others by helping translate scientific advances into novel products. As part of the reward of being part of this team, Guilford offers a casual environment, flexible work hours and a generous benefits program, which includes one of the most competitive and comprehensive combination of benefits in the industry. Specifically, our benefits package offers Health, Dental, and Vision Care, Life, AD&D;, Short- and Long-Term Disability Insurance, Tuition Assistance, a generous Leave Program, 401(k) savings plan (which includes a match), employee stock purchase plan, a casual environment and flexible hours.
The section below details the many components of our benefits program:
Health Care Benefits
Guilford offers employees the choice of three Preferred Provider Organization (PPO) medical plans. Each plan offers employees a significant amount of flexibility as each plan offers In-Network and Out-of-Network benefits, low co-pays and significant levels of coverage. And since these plans are PPO plans, there are no "gatekeepers" so you are able to go directly to the specialist of your choice.
Each of the medical plans discussed above provides the same level of prescription drug benefit. This benefits includes a $10 copay for generic medications, a $15 copay for name brand medications and a mail order option which provides up to a 90 day supply of medication with copays of $20 for generic and $30 for name brand medications. Participating employees contribute a nominal sum to the cost of this benefit on a per pay basis.
Guilford offers employees the choice of two PPO style dental plans. Offered through Metlife, these plans provide In-Network and Out-of-Network benefits. Participating employees contribute a nominal sum to the cost of this benefit on a per pay basis.
The vision plan provides a reimbursement for routine eye examinations and eyeglasses on an annual basis. A $10 copayment applies to eye examinations (up to $50) and a $25 copayment applies to glasses or contact lenses (up to $175).
Income Replacement Benefits
Life and AD&D Insurance
Peace-of-mind protection is important to your family and this is especially true if something were to happen to you. To help provide both protection and peace-of-mind to your family, Guilford pays 100% of the cost of group life and accidental death and dismemberment (AD&D;) coverage equal to two times your salary, up to a maximum of $500,000 for each.
If you want additional coverage, you can purchase life insurance for you and your dependents at the company's low group rates. Optional coverage for you is offered in amounts equal to one, two, or three times your salary, up to a maximum of $750,000. In addition, dependent life insurance is available for your spouse (up to $100,000) and children (up to $25,000 each).
Short- and Long-Term Disability
So that your income will continue if you ever become disabled, the company pays 100% of the cost of short- and long-term disability benefits.
Short-term disability benefits equal 60% of your salary (up to $1,000 each week) for up to 13 weeks. There is a seven-day waiting period in cases of illness, and no waiting period if you become disabled due to an accident.
For long-term disability, the company-provided benefit equals 66 2/3% of your salary up to a maximum benefit of $10,000 each month.
If you become disabled, Supplemental Disability Bank days may be used to supplement the company-provided disability benefits (up to 100% of your salary).
Flexible Spending Accounts
Through Guilfords health care and dependent care flexible spending accounts (FSAs), income you elect to defer is deposited, pre-tax, into your FSA account. You are then reimbursed from that account for your out-of-pocket costs for health and dependent care expenses. FSAs help to reduce your taxable income.
Currently, you can contribute up to $2,000 to the health care FSA and $5,000 to the dependent care FSA.
401(k) Savings Plan
Guilford Pharmaceuticals makes saving for retirement easy by providing you with an excellent 401(k) plan. The plan allows you to save money for retirement on a pre-tax basis. You may participate in the plan once you meet the qualifying requirements. You may rollover funds from another qualified plan immediately.
You can contribute up to the annual IRS approved limit to the 401(k) Savings Plan and once a quarter the company provides a 50% match on the first 6% of pay you contribute. The match is made in Guilford stock.
You may choose from more than 14 professionally managed investment options, plus Guilford stock.
Employee Stock Purchase Plan (ESPP)
Eligible employees can elect to participate in Guilford's ESPP, purchasing company stock at a 15% discount through payroll deduction.
Because time away from work is important to your physical and emotional well-being, Guilford offers a variety of leave programs, which include:
Guilford provides for a total of 11 paid holidays. The Company observes 10 fixed holidays through the course of the year and provides employees with one floating holiday to be used at the employee's discretion.
Employees accrue vacation leave at a rate of 15 days per year upon hire. This rate increases one day per year of service to a maximum accrual rate equaling 20 days a year. Annual vacation accrual is intended to be used at the employee's discretion and during the two designated closings each year (one in the summer and one at the end of the year). Up to ten days per year can be banked for use the following year.
Employees accrue Sick/Medical leave to a total of 6 days per year. At the end of the year, unused Sick/Medial leave days are doubled and added to a special leave "bank" that can be used to augment disability income.
Additional Leave All regular, full-time employees are eligible for Bereavement and Jury Duty leave.
Tuition/Education Assistance Program
After three months of employment, you may participate in this program and receive up to $2,000 for the cost of undergraduate education and $3,500 for graduate studies. The company's reimbursement can be used for tuition, lab fees, books, and registration fees.
Other Valuable Benefits
In addition to the benefits already described, Guilford Pharmaceuticals offers other valuable benefits that include:
Business Casual Attire dress in the office is business casual, unless a particular activity or event requires more formal business attire.
Flexible Work Hours general business hours are 8:30 a.m. to 5:00 p.m. With prior supervisor approval, you can schedule your work hours starting as early as 7:00 a.m. or work until as late as 6:00 p.m.
On-Site Chair Massage today's hectic pace can be stressful. To help alleviate that stress, Guilford has arranged for a certified massage therapist to visit our facility on a regular basis to provide chair massages. You may schedule 15- or 30-minute sessions, at your own expense.
Global Emergency Travel Assistance Guilford's program, provided through MetLife TravelAssistance/AXA Assistance provides you and your dependents with access to doctors, hospitals, pharmacies and other services when faced with a medical-related emergency while traveling more than 100 miles from home, in or out of the United States.
Employee Service Program (ESP) Guilford's ESP Committee coordinates activities that provide employees the opportunity to meet in social and recreational circumstances. Our annual activities include a holiday party, family day picnic and clean-up day. Other activities include a holiday food/clothing collection for charitable donation, company sponsored team sports, winter ski trip, and a night at Camden Yards to see the Orioles play baseball.
Company Store Guilford has a company store with the latest styles in sports/casual wear and other various items.
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