MPAT Benefits
At NV Energy, our goal for the benefits program is to offer a comprehensive set of benefits that are both flexible in their design and accessible when you and your family need them. Here’s what you can expect when you become part of the NV Energy team.
The Financial Value of Employee Benefits
Paid Time Off
NV Energy provides 18 days of personal paid time off plus .58 days for each year of service. In addition, NV Energy provides 10 paid holidays each year.
Health And Wellness Benefits
Medical and Prescription Drug Plans and Options
Smart choices and a new direction epitomize our medical plan. Currently, we offer three medical plan options, administered by Aetna. There are two Health Reimbursement options and one Health Savings Account.
With each option you have the coverage and protection you need, and the flexibility to select the cost structure most comfortable to you. Each option also provides pharmacy benefits. Also, with each of these options we offer three levels of coverage for yourself and your family. If a family member gains or loses eligibility, you have the flexibility to change your level of coverage. Our program gives you access to a variety of health-related tools and programs.
The HSA option places in your hands more control over your medical care and costs. By actively managing your health care costs, you benefit directly.
The wellness features of our medical program change the focus of benefits from just treating disease to helping to prevent it from the outset. The program offers a health risk assessment tool to help identify some of the most common chronic conditions, all of which can have a significant impact on your quality of life and all of which can be treated inexpensively, if identified early. The Healthy Roads program offers telephonic personal health coaching that focus on health improvements.
Dental Options
The NV Energy Dental plan provides coverage for preventive care through major services, including orthodontia. It also offers a dental provider network and the flexibility to receive services in-network, and reduce your costs, or out-of network, where you can use any provider you want.
Vision Options
The NV Energy Vision plan provides coverage for examinations, eyeglasses and frames, contact lenses and laser vision correction. It also offers a vision provider network and the flexibility to receive services in-network, and reduce your costs, or out-of-network, where you can use any provider you want.
Flexible Spending Accounts
NV Energy offers flexible spending accounts for health care and dependent care. These accounts let you set aside money to pay for your out-of-pocket health care and/or dependent day care expenses. Contributions are made on a pre-tax basis through payroll deduction. All reimbursements are tax-free.
Employee Assistance Plan
NV Energy provides the employee assistance plan for personal counseling for you and your family. Counseling is available for financial, emotional/mental health, and legal issues among others. Income Protection Benefits
Short-Term Disability
NV Energy’s short-term disability benefits generally continue 100% of your pay for up to 8 weeks and 80% for the next 18 weeks, when you are unable to work due to a non-work-related illness or injury.
Long-Term Disability
NV Energy’s long-term disability benefits generally continue 60% of your pay when you are unable to work due to a non work-related illness or injury. Benefits begin after you have been disabled for 180 consecutive days. The plan does have a pre-existing condition exclusion during the first year of employment. Also, plan benefits may be offset by any government-mandated benefits.
Retirement Benefits
Cash Balance Pension Plan
NV Energy provides a cash balance pension plan that is totally funded by the company. Your plan benefit is based on your years of service and your pay. Your benefit is shown as an account balance, which grows with each year of service. When you retire, the plan provides a number of payment options for your benefit.
401(k) Plan
NV Energy offers the opportunity to save for your retirement in a tax-deferred 401(k) plan. When you save in the plan, NV Energy matches the first 6% of your pay on a dollar-for-dollar basis. The plan provides a variety of funds in which you can invest your savings and the company’s contributions.
Employee Stock Purchase Plan
Through this plan, you are able to purchase NV Energy stock at a discount. This is an excellent way to supplement you retirement income by investing in your work and the company.
Survivor Benefits
Life Insurance
NV Energy provides basic life insurance equal to 1.5 times your annual base pay. You also may purchase supplemental life insurance in increments of .5 to 5 times your annual base pay. Payment is made to the beneficiary of your choice.
Accident Insurance
NV Energy provides accidental death & dismemberment insurance (AD&D) equal to 1.5 times your annual base pay. You also may purchase supplemental AD&D insurance in increments of $25,000 to $500,000. Payment is made to the beneficiary of your choice.
Spouse and Child Life Insurance
In addition to coverage for you, NV Energy offers several options for coverage of your spouse and children. You can elect either life insurance coverage or AD&D coverage. Payment is made to you.
Other Benefits
Other benefits to which NV Energy contributes include:
- Tuition Reimbursement
- Adoption Assistance
- Social Security and Medicare
