Benefits (North America)

Benefits (North America)

Cabot Microelectronics Corporation provides comprehensive, competitively priced health and welfare plans in which CMC and employees share the cost of coverage. Eligible employees also have the opportunity to cover eligible dependents.

 

Medical

Eligible employees may elect to participate in the Cabot Microelectronics Corporation Medical Plan. The Plan specifies certain benefits regarding primary and specialty care, and preventive, diagnostic and emergency services, along with prescription drugs.

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Health Advocate

Health Advocate is available to help employees and their family members navigate the healthcare landscape. Whether it be booking appointments with specialists or resolving insurance claim questions, this independent resource is here to help.

Dental

Employees may elect to participate in the Cabot Microelectronics Corporation Dental Plan. The Dental Plan provides coverage for diagnostic, as well as basic and major restorative dental services. An orthodontia benefit is available for eligible dependents.

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Vision

Employees may elect to participate in the Cabot Microelectronics Corporation Vision Plan. The Vision Plan offers comprehensive vision benefits to participants. Some of the coverage available under this plan includes eye examinations, lenses, frames and contact lenses.

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Life, Accidental Death and Dismemberment, and Disability Insurance

Eligible employees are provided with Basic Life, Basic Accidental Death & Dismemberment (AD&D), Short Term Disability (STD), Long Term Disability Insurance (LTDI) and Business Travel Accident Insurance at no cost.

To provide additional security, eligible employees may elect to purchase Supplemental Employee Life Insurance, Supplemental AD&D, Dependent Life Insurance and/or Long Term Disability Insurance “Buy-Up.”

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Savings and Retirement

401(k)

All eligible employees may participate in the 401(k) Plan beginning on his/her date of hire. Some contributions made to the plan will be matched with employer funds. Additionally, regardless of an employee’s participation, Cabot Microelectronics will make a non-elective contribution into the Plan for all eligible employees. All employee and employer contributions are vested immediately.

Employee Stock Purchase Plan

CMC employees have the opportunity to participate in the Employee Stock Purchase Plan (ESPP) and become a shareholder in the company. This is an opportunity to purchase CMC stock at a favorable price not available to non-employee investors.

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Parental Leave

Parental Leave allows both mothers and fathers up to twelve weeks of paid time off to bond with their newborn child, newly adopted child or new foster child.  Employees with six months or more of service are eligible for this leave and must take the time within the first twelve months.

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Other Benefits

Flexible Spending Account (FSA)

Flexible Spending Accounts provide the opportunity to pay for eligible expenses with pretax dollars. CMC offers health care and child care flexible spending account options.

Employee Assistance Program (EAP)

The Employee Assistance Program (EAP) provides eligible employees and eligible dependents with confidential access to short-term professional counseling services at no cost. The program also provides work-life and legal-financial services.

Onsite Fitness Center (Aurora, IL)

We have a full on-site workout facility. The center is complete with weight machines and free weights, cardio machines and locker rooms.

Health Club Reimbursement

Employees located outside of Aurora are eligible for a health club reimbursement.

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Time Off

Holidays

Employees receive eleven paid holidays each year. This includes company-designated holidays and floating holidays. Floating holidays will be prorated for new hires based on date of hire.

Paid Time Off

Our competitive paid time off program allows eligible employees to accrue paid time off based on years of service.

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