PPD Benefits in the U.S.
PPD offers its full-time regular employees in the U.S. a comprehensive and
competitive benefits package to meet employees' needs in the areas of health
and well-being, work/life balance and income protection and financial security.
There is an array of additional programs and services available.
Basic information on the U.S. benefits package is listed below. Benefits
in other countries may differ in content, but this list of benefits should
provide an idea of what PPD seeks to supply to all of its worldwide employees.
For information pertaining to particular areas of the benefit packages, go
to the appropriate link below.
Health and Well-Being
Health Plan
PPD offers several health insurance options to its employees depending on
the area in which they live. Each plan includes medical, dental and vision
coverage. Employees can enroll their spouses or same-sex domestic partners
and eligible dependents. If elected, coverage is effective the first day of
the month following the date of employment. The employee portion of the premium
can be paid with pre-tax dollars.
Choice Plus Plans
With PPD's Choice Plus plans, employees have access to a large, national network
with more than 380,000 doctors and specialists as well as more than 4,000
hospitals.
PPD offers employees the choice of two Choice Plus plans. Both plans use
the same network and provide the same coverage. The primary plan differences
are in the annual deductible, maximum out-of-pocket, coinsurance and monthly
employee contribution. In areas where Choice Plus plans are not available,
alternative plans are provided by PPD.
Dental Coverage
Employees and eligible dependents are automatically enrolled in dental coverage
when enrolled in a medical plan.
Dentists can be chosen without a referral. However, in some areas of the
country, under certain circumstances, additional discounts are implemented.
Benefits are based on the "reasonable and customary" charge for
the area.
Vision Coverage
The indemnity vision plan offers annual reimbursement for eye exams, glasses
and contact lenses. In addition, coverage for laser eye surgery is offered
to employees only.
Medical Spending Account
Flexible Spending Accounts (FSAs) allow an individual to set aside pre-tax
earnings to pay for certain eligible expenses.
Work/Life Balance
Paid Time Off
New employees accrue paid time off (PTO) each pay period for vacation, personal
and sick leave. The beginning accrual rate for new hires is 17 days per year,
and the accrual increases with years of service. Up to 160 hours of PTO can
be carried forward from one year to the next. In addition, employees who are
away from home on business travel for a significant amount of time are eligible
to receive additional PTO. Employees may also choose to sell PTO back to PPD
twice a year.
Holidays
PPD observes ten paid holidays per year, including one personal floating holiday
per calendar year.
Leave of Absence
PPD offers several forms of paid and unpaid leaves of absence for employees
who may require extended periods of time away from work. Paid leaves include
bereavement leave, military leave and jury duty. Unpaid leave includes family
care leave, medical leave, education leave and personal leave.
Employee Assistance Program (EAP)
The employee assistance program is available to all employees and their family
members. It is available through a toll-free number 365 days a year, 24 hours
a day. All calls are confidential and offer employees assistance with personal
and work- related issues, childcare resource and referral, elder care resource
and referral and legal services.
Dependent Day Care Spending Account
Flexible spending accounts (FSAs) allow employees to set aside pre-tax earnings
to pay for certain eligible expenses, including dependent and elder day care
expenses.
Flexible Work Schedules
Flexible work schedules are available depending on location and business requirements.
Income Protection and Financial Security
Retirement Savings 401(k) Plan
Employees may contribute up to 50 percent of their pre-tax salary, and PPD
matches $.50 for every $1.00 contributed. Employees are 100 percent vested
in their contribution immediately and 100 percent vested in the employer contribution
at the end of four years. There are nine investment options to choose from
and rollovers from qualified retirement plans may be accepted.
Employee Stock Purchase Plan
Employees can share in the growth and success of PPD by participating in the
employee stock purchase plan (ESPP). Eligible employees can contribute from
1-10 percent of eligible compensation each pay period to purchase PPD stock
at a 10 percent discount of the fair market.
Life Insurance
PPD provides a company-paid basic life insurance and accidental death and
dismemberment (AD&D) coverage equal to two times the employee's annual
base salary (up to $500,000). An optional supplemental life insurance policy
is available to the employee, their spouse and eligible dependents.
Business Travel Accident Insurance
The company paid business travel accident insurance provides benefits in the
event of an accidental death or dismemberment while traveling on PPD business.
Short Term Disability (STD)
PPD provides STD coverage at no cost to the employee. STD replaces a portion
of the employee's income if they are unable to work due to a certified illness
or injury for more than seven days.
Long Term Disability (LTD)
LTD picks up when short-term disability draws to a close. PPD provides employees
with long term disability for certified illnesses or injuries lasting six
months or more. An optional buy-up LTD plan is also available to the employee.
Additional Programs and Services
PPD offers several additional benefits to its employees to enhance their
personal and professional lives, including:
Paid employee referral program
Educational reimbursement
Professional development
Service and retirement awards
ConSern loan education program
Professional legal and advisory plan
Group property and casualty insurance
Pet insurance
Other services offered at PPD vary by work location:
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Discounts for amusement parks and fitness centers
Onsite fitness rooms
Onsite childcare resource and referral services
"Mothers Room" for lactation
Dry cleaning pick-up/delivery service
Access to credit union membership
Onsite ATM
Onsite postage stamp machine
Onsite employee health services clinic
Onsite first aid/acute care supplies
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Information about benefits is provided in general terms, the
formal plan documents, policies and/or contracts govern the specifics of the
benefits. If there is a conflict between the plan documents, policies or contracts
and this or any other description of benefits, the formal documents will always
prevail. Although PPD expects to continue the benefits as they appear, the
company reserves the right to amend, terminate or modify one or more of the
plans at any time.
