PotlatchDeltic offers a comprehensive benefits program to help protect and sustain the diverse health and financial needs of our employees and their families. We meet with our employees annually to introduce and describe changes to our benefit offerings. This is a valuable way for our employees to ask questions and get assistance about their enrollment elections.
All full-time employees receive Company-paid Life Insurance and Accidental Death and Dismemberment (AD&D) Insurance. Full-time employees, except union employees, are also eligible to purchase supplemental employee, spouse and/or child life insurance as well as supplemental accidental death and dismemberment coverage. In addition, full-time employees traveling for business-related reasons are provided Business Travel Accident insurance for up to two times their annual salary.
Short-term disability coverage is paid in full for all full-time employees. Benefits are provided for non-work-related illnesses and injuries for up to 26 weeks. After short-term disability coverage is exhausted, employees may be eligible for long-term disability. Long-term disability insurance is company provided for all salaried employees. Hourly non-union employees may purchase long-term disability insurance. Employees located in Washington State may receive up to 12 weeks of medical leave under the Company-sponsored Washington Paid Family and Medical Leave Program. Benefits are subject to the state-mandated weekly maximum.
Employees and covered family members are offered several programs to achieve and maintain their health and well-being goals through medical and prescription drug plans. Plans offer comprehensive medical and prescription drug coverage and provide free annual preventive health screenings. We offer two quality medical and prescription drug plans, one that includes an employer funded health savings account. Full-time union employees are offered a plan with a health reimbursement account. In addition to the health reimbursement and health savings accounts offered with our medical plans, employees may enroll in healthcare and dependent care flexible spending accounts administered by a single provider, to make it easy for our employees to initiate reimbursements and track available balances. Our medical plans include extended multiple telehealth medical benefits and mental or emotional telehealth support.
PotlatchDeItic offers a Centers of Excellence program to all covered employees and family members. The Centers of Excellence program identifies specialist care at locations across the U.S. with doctors that have expertise for conditions such as cancer care, cardiac care, knee and hip replacement, spine surgery, or transplants. The benefit does not have additional costs beyond the deductible and includes prepaid travel benefits and logistical support.
Our medical plans also include access to free chronic care monitoring, a comprehensive solution to effectively manage the full spectrum of diabetes, pre-diabetes/weight management, and hypertension. This program is offered to employees and their families at no cost and is a program that helps members achieve positive outcomes with their chronic conditions and reach their wellness goals. It provides online programs, connected smart devices, and personalized coaching.
In 2022, PotlatchDeltic added a digital physical therapy program to treat back, join and muscle pain. It pairs individuals with a physical therapist and provides easy-to-use technology in order to engage in at-home treatment. Specialized support and coaching allows individuals to relieve chronic pain or recover from surgery. This is offered at no cost to all employees and their family members over the age of 13 covered under our medical plans. In addition, it provides a digital pelvic therapy solution, offering support for women in all stages of life including pregnancy, postpartum and menopause. This comprehensive program provides virtual consultations and digital therapy support to women in the convenience of home. This program is offered to employees and spouses covered under our medical plans at no cost.
Employees and spouses are offered tobacco cessation support. This program provides coaching, resources, and supplies to help individuals meet their goals by becoming tobacco-free.
All covered employees and spouses are eligible to enroll in a maternity program through our medical plan. This is a comprehensive program that provides information and support for expectant mothers.
PotlatchDeltic offers an Infertility and Adoption Reimbursement program for all full-time employees, except for union employees. This program offers inclusive fertility and family-forming benefits that cover all paths to parenthood — adoption, gestational carrier arrangements (commonly referred to as surrogacy), fertility treatments, pregnancy, and more. This program provides counseling, guidance, and resources to make family forming benefits accessible to everyone. In addition, we provide reimbursement benefits of up to $10,000 to assist towards infertility or adoption expenses.
Full-time employees are eligible for maternity and parental leave benefits. Through the Family and Medical Leave Act (FMLA), employees may receive up to 12 weeks of unpaid, job-protected leave. This leave applies to employees who became parents through birth, adoption, or foster care. In addition, birth mothers receive 6-8 weeks of total paid time off for recovery under the Short-Term Disability plan. The Washington Paid Family and Medical Leave Program offers an additional 12 weeks of paid leave for both birth and non-birth parents.
In addition, the PotlatchDeltic Paid Parental Leave Program, provides up to 4 weeks of paid leave for all new parents maternal, paternal, adoptive, or surrogacy-assisted - upon the arrival of a new child. This plan is in addition to the 6-8 weeks of paid leave that employee birth mothers may receive under the Short-Term Disability plan. Paid Parental Leave may be taken up to 12 months after the birth or adoption placement of a new child. This program is offered to all full-time employees except for Washington State employees and union employees.
Saving for the future is a responsibility PotlatchDeItic shares with our employees. We provide retirement saving opportunities for all employees through two 401(k) plans, a Salaried and an Hourly 401(k) plan. All employees are allowed to participate in the 401(k)-retirement savings plan, including both full-time and part-time employees. A wide variety of investment options are offered to choose from. In addition, professional investment assistance is available through Empower Retirement Advisory Services. We have 97% participation and an average savings rate of over 7.5% across our 401(k) plans.
For full-time employees hired before 2011 (or before 2015 for legacy Deltic employees), a comprehensive pension plan is provided. A full pension benefit is offered at age 65, or at age 62 if certain conditions are met, or a reduced pension is offered at age 55 under certain eligibility conditions. Eligible participants may engage with our pension administrators in dedicated sessions to assist with retirement and distribution election questions.
We offer competitive dental benefits and 100% employer paid vision benefits. To further protect our employees’ income, we offer supplemental insurance to all full-time employees, except union employees. This includes critical illness insurance (pays lump sum awards for critical illness diagnosis), hospital indemnity coverage (pays for inpatient admissions including pregnancy), and accident coverage (pays cash benefits if injured in an accident).
Our Employee Assistance Program (EAP) is a confidential, free service offered to all employees and their family members. This service provides professional counseling, referrals, tools, and resources to help employees and their families address mental and emotional health concerns. In addition, the EAP provides work/life resources that allow employees and their family members to achieve and maintain a healthy work/life balance.
Legal insurance is an employee-paid benefit offered to all full-time employees except for union employees and provides affordable legal counsel for a wide variety of everyday legal matters. Pet insurance is offered on an employee-paid basis to all full-time employees except for union employees and provides comprehensive coverage for illnesses, injuries, and routine wellness care for our employees’ beloved, pet family members.
PotlatchDeltic recognizes that providing flexible work hours and teleworking is a competitive business advantage that can support the Company’s objectives while helping employees balance their personal commitments with work responsibilities. Flexible work arrangements are available to full-time employees that meet requirements and that work in a position that is conducive to flextime.
Employees work eight hours per workday but have flexibility in scheduled start and end time. Employees may also work longer hours to allow for an extended lunch break. Employees may also work a compressed schedule working 40 hours per week in less than 5 days or opt for a 9/80 schedule where they work nine-hour workdays and receive one full day off every other week. Telework can be requested for up to 3 days per week or exclusively at a remote location temporarily. Some part-time positions are offered at our wood products facilities.
Our St. Maries, Idaho lumber and plywood complex is situated in a picturesque rural community nestled in a beautiful timbered valley along the St. Joe River. The population of about 2,800 people is driven by the timber industry, complemented by some mining operations and a solid base of farming. PotlatchDeltic is by far the largest employer in the town, with about 361 Team Members working at the complex.
As a result, significant emphasis is placed by the complex on contributing to the well-being of the community. This includes charitable donations which range from free swimming lessons in the summer, to supporting events like the local county fair, or capital contributions towards PotlatchDeltic Field at the Lumberjack Community Sports Complex.
Hiring can be challenging at the complex. Area land prices have risen sharply with the proximity to Coeur d’Alene, Idaho, impacting housing affordability. In addition, availability of childcare in St. Maries has been a factor.
Finding quality, reliable childcare can be one of the biggest stressors for a parent. In addition, the significant cost of childcare itself can pose a great challenge as it can take up a large portion of a parent’s monthly expenses. According to the Care Index, a ranking of all 50 states based on the cost, quality, and availability of paid childcare in each state, Idaho’s average cost of childcare is 25% of the median monthly household income. Additionally, Idaho is among the states with the lowest availability of childcare. Since many of our Team Members are parents, we know that they are experiencing these issues as well.
During 2022, we partnered with two local childcare providers to be able to offer subsidized childcare to Team Members at the complex starting in 2023. PotlatchDeltic is subsidizing up to 50% of our St. Maries Team Members’ monthly childcare expenses up to an annual maximum of $5,000.
This subsidy is intended to help Team Members with the financial burden and stress of paying for childcare as well as to offer a solution for reliable care for their children during the hours they are at work. Both childcare providers are licensed, insured and vetted to provide quality care for our Team Members’ families. This partnership with the childcare providers allows them to provide adequate staffing and expanded hours that meet the needs of our Team Members.
As of March 2023, we have 13 Team Members engaging in the subsidy at one childcare provider and 6 Team Members at a second. We believe this offering could assist in attracting new Team Members and as the program grows it will help us retain our valuable Team Members in St. Maries.