Benefits

We offer great opportunities with an outstanding benefits package.  Let us help you plan for a secure future with our outstanding benefits package.  We offer the best for our employees.  Programs include pension, profit sharing, and stock purchase plans; 401(k) medical, dental, vision, life and disability insurance; paid holidays and educational reimbursement. 

BWSC Stock
BWSC is an employee-owned company. After 1 year of continuous full-time employment, an employee may purchase stock by cash or payroll deduction. Upon participation in the Profit-Sharing Plan, an employee may purchase stock on a pretax basis by payroll deduction through the 401(k) plan.

Retirement Benefits
A new employee becomes a participant in the retirement plans on the earlier of January 1 or July 1 after completing 1 year of service. A participant is 100% vested after 5 years of service as defined by the plan.

Part 1 – Pension Plan
For a long term employee, the Pension Plan is designed to replace 50%-60% of income at the normal retirement age of 65.  The plan provides a monthly benefit to a vested former or current employee at age 65. Employees with 15 years of service may retire as early as age 55 with reduced benefits. The Pension Plan is funded entirely by the firm.

Part II Profit-Sharing Plan
This portion adds to the above plan by enabling each participant to share in the annual firm contribution to the plan. A participant’s portion is based on the ratio which the participant’s total annual compensation for the plan year bears to the total annual compensation of all participants in the plan for the same plan year. The firm’s contribution has recently averaged slightly over 2% of participants’ salaries, including overtime and bonus.

401(k)
The Profit-Sharing Plan includes a 401(k) component that allows an employee to supplement the firm’s two retirement plans by contributing pretax earnings upon participation in the Profit-Sharing Plan and/or by rolling over funds from another qualified plan upon employment.

Insurance

Medical
The firm strives to maintain excellent medical insurance coverage for employees and their dependents. The firm pays 90% of the cost for employee medical insurance and half the cost of family coverage.

Dental
Dental insurance coverage is available for employees and their families, with the entire cost paid by the employee through payroll deduction.

Vision
Supplemental vision insurance is available for employees and their families, with the entire cost paid by the employee through payroll deduction.

Life
After 3 months of continuous service, each active full-time employee is covered by a life insurance policy in the amount of 1.5 times the employee’s annual salary, rounded to the next $1,000. The premium is paid by the Firm. The plan also provides life insurance for Dependents.

Short-Term Disability
After 3 months of continuous service, active full-time employees are covered by disability insurance, which pays to them weekly, in the event of becoming disabled, 60% of their base salary. The firm pays the premium for the short-term disability insurance.

Long-Term Disability
After 3 months of continuous service, active full-time employees are covered by disability insurance, which pays them monthly, in the event of becoming totally disabled, 60% of their base salary and bonus.  The firm pays the premium for the long-term disability insurance.

Holidays
All active full-time employees are paid for 6 holidays during the year:

New Year’s Day         
Memorial Day
Independence Day  
Labor Day
Thanksgiving Day
Christmas Day

Continuing Education
After one year of employment, all active full-time employees are eligible to apply for continuing education financial assistance by the application due date.

Additional Benefits

Supplemental Insurance
Through payroll deduction, the firm makes available to employees and dependents the following optional coverage:  Cancer Care and Hospital Intensive Care Insurance; Term Life Insurance.

Click here to download our benefits brochure.