Company Benefit Overview

PartsSource offers employees an outstanding benefits package. This summary is a description of the benefits available to our regular, full-time employees.

Payroll checks are issued two times per month, on the 15th and the last day of the month. Employees may have their checks electronically deposited if desired.

Employees are eligible for enrollment in benefit plans on the first of the month following 60 days from the date of hire. Our benefits package includes:

Medical (including vision discount) and dental coverage. The company pays over 80% of the cost of insuring the employee and dependent premiums. Our Section 125 Cafeteria Plan allows employee premium fees to be deducted as pre-tax dollars.

Disability and Life Insurance. The company pays for long-term disability insurance, which ensures continuing salary payments of 50% of annual earnings to a maximum of $7000 per month.  A life insurance policy of one times annual salary up to a max of $50,000 is also provided at no cost to the employee.

Holidays observed are Memorial Day, Independence Day, Labor Day, Thanksgiving, Christmas Day, and New Years Day.

PTO.  Employees are eligible for PTO (Paid Time Off) determined by length of service and include the above noted holidays.

Equity Participation Plan.  As a full-time employee with PartsSource, you are eligible to be included in the Employee Equity Participation Plan. This Plan will allocate a portion of the proceeds received upon the sale of the Company to a “pool”. This “Equity Participation Pool” will be shared by employees that are here at that event based on a formula. This Plan has the potential to reward all employees for their contributions to the success of the Company.

A Retirement Savings Plan, i.e. 401(k) plan, is available to all employees after completing sixty days of service. Employees may contribute to the plan up to the maximum allowable legal limit.

Travel Accident Insurance.  PartsSource pays 100% of the cost of coverage for travel insurance (one times annual earnings up to a maximum of $100,000).

Accidental Death and Dismemberment (AD&D) Insurance.  PartsSource pays 100% of the cost of coverage for AD&D (one times annual earnings up to a maximum of $50,000).

PartsSource Reward Points Program.  Employees after 60 days of service will be awarded points based on monthly goals as well as individual performance levels above and beyond what is expected.  Points are valued at $100.00 per 25,000 points.