Financial Security

401(k) Plan
EMC matches up to 50% of the first 6% of your contributions to your 401(k) plan. Employees are eligible to defer income the first day of the month following employment and may roll funds from a prior qualified plan when hired. Employees are vested in the company match after three years of service.

Pension Plan
EMC pays the full cost of a cash balance pension plan. Employees are eligible after one year of continuous service or age 21, whichever is later. Employees are 100% vested after three years of service or at age 55 with one year of service.

Contingent Salary Plan
The Contingent Salary Plan (CSP) is an employee incentive plan directly related to the profitability of the company. The CSP can potentially increase your total annual compensation from EMC.

Life Insurance
EMC pays 100% of the life insurance premium for employees. The benefit is two times your annual salary if you are full-time and $15,000 if part-time. Employees are eligible the first day of the month following or coinciding with employment.

Flexible Spending Account
This benefit lets you set aside pretax money for eligible medical and dependent care expenses such as deductibles, co-pays and other services not covered by your health plan. You do not pay Federal, State or FICA taxes on the money that you set aside. Employees are eligible the first day of the month following or coinciding with employment.

Optional Insurance Plans
Employees have the option of enrolling in several additional insurance plans: accidental death and dismemberment, long-term care and supplemental life. Premium costs are paid by the employee.

Direct Deposit of Paycheck
Your paycheck can be directly deposited into a financial institution(s) of your choice. Your entire check may be deposited into one account or divided into two, three or four accounts—the choice is yours.

Insurance Discounts
EMC employees who live in territories where EMC writes personal lines insurance can receive personal insurance discounts on most policies. Employees are eligible after six months of continuous full-time or qualified part-time employment. This privilege extends to your spouse and dependent children under the age of 25 residing in your household and going to school.

Stock Purchase Plan
Employees can purchase shares of common stock of EMC Insurance Group Inc. at a discount. The stock is listed on the NASDAQ Stock Exchange as EMCI. The purchase price for employees is 85% of the fair market value of the EMC Insurance Group Inc. common stock on the last day of each election period on which the NASDAQ Stock Exchange is open for business. To be eligible, you must be employed at least one month prior to the beginning of each election period.

Savings Bonds
Employees can purchase United States savings bonds through payroll deductions via direct deposit. Series I bonds or series EE bonds are available, both in different denominations.