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Ulbrich Stainless Steels & Special Metals, Inc. recognizes that employee compensation and benefits play a key role in attracting and retaining the kind of talented staff we need to succeed. That’s why we pride ourselves on offering a comprehensive, competitive compensation and benefits package.

Benefit Offerings

Employees are eligible for most of our benefit offerings on the first of the month following date of hire. The following is a summary of the benefits of Ulbrich Stainless Steels & Special Metals, Inc. for eligible employees effective January 1, 2020:

Medical Insurance

Anthem BC/BS: Ulbrich offers employees a choice between two plans, the Comp PPO, and the HSA. The Comp PPO and the HSA plans offer in-network and out-of-network benefits. Both plans include prescription drug coverage, hospitalization, diagnostic and preventative care.

The Comp PPO Plan has an in-network deductible of $500 for an individual and $1,000 for a family with a maximum out-of-pocket cost of $2,000 for an individual and $4,000 for a family per calendar year. The co-insurance is 10%. This applies to Inpatient Hospital, Outpatient Surgery, and Durable Medical Equipment/Prosthetic Devices. Preventive services are covered at 100%. The prescription drug co-pays are $10, $25, $40 and 20% for specialty drugs (Min $50-Max $150). Out-of-network services are subject to an additional deductible and additional out-of-pocket maximums but with a 30% co-insurance on most services and 20% co-insurance on prescription drugs.

The HSA Plan is a high deductible medical plan coupled with a Health Savings Account. The deductible is $1,500 for an individual and $3,000 for a family. The out-of-pocket maximums are $3,000 for an individual and $6,000 for a family for in or out-of-network services. The coinsurance is 20% in-network and 40% out-of-network for all medical services including prescription drugs except for preventive services which are covered at 100%.

Dental

Our flexible in and out-of-network benefits plan provides reasonable and customary cost of preventive and diagnostic dental care, basic restorative care coverage, and major care coverage.

Vision Plan

Our vision plan offers access to a network of over 30,000 doctors and 25,000 locations. In network benefits include: routine eye exam once every calendar year; an allowance for eyeglass frames once every calendar, and eyeglass lenses once every calendar year with a co-pay, and contact lenses once every calendar year with an allowance.

Bonus Opportunity

At Ulbrich, each full-time employee is eligible to participate in a discretionary bonus program. Bonuses are paid when Ulbrich achieves certain pre-established financial goals.

Life/AD&D Insurance

Life and Accidental Death and Dismemberment Insurance benefits are company-paid. Employees are eligible for a Life/AD&D benefit up to a percentage of their annual basic earnings.

Employee Family Protection

Employees may purchase additional life insurance through a payroll deduction. They may also purchase dependent life insurance for their spouse and/or their children.

Short-term Disability

Our company-paid, short-term disability plan provides employees financial security when employees are out of work and under a doctor’s care.

Long-term Disability

Our company-paid, long-term disability plan is designed to provide employees with longer-term financial security.

Parental Leave

Ulbrich will provide eligible employees with a paid Parental Leave of Absence from work for up to five (5) days (at their base hourly or salary rate) for the birth of a child, adoption of a child, or the placement of a foster child.

Flexible Spending Plan Accounts

Flexible Spending Plan Accounts allow employees to reduce their taxable income and pay for eligible expenses with pre-tax dollars. Employees may elect this voluntary benefit to use for dependent care or health care expenses (or both). This plan follows IRS regulations governing eligibility and reimbursement rules.

401(K) Savings Plan

Our 401(k) savings plan allows employees to save and invest in their retirement, as well as allowing employees to save each year by reducing their annual taxable income. Best of all, Ulbrich will match the eligible employee’s contributions 100% on their first 6% of compensation they defer. Employees may elect a variety of T. Rowe Price funds to invest in and optimize their savings growth.

Tuition Reimbursement Plan

Continuing education is a key part of our learning culture at Ulbrich. Tuition costs and certain fees are reimbursed up to 100% depending on the grade received. Annual plan reimbursement is up to $5,250.

Vacation & Holidays

Ulbrich understands the importance of work/life balance and as such, offers all employees with a generous paid vacation plan.

Ulbrich observes 11 paid holidays per year.

This summary provides highlights of the benefit plans offered to eligible employees of Ulbrich Stainless Steels & Special Metals, Inc. The descriptions provided in this summary are only a brief outline and are not a complete description of such plans. More information is available in the Summary Plan Description for most of these plans.
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