About Satcon
Employee Benefits in Canada
Eligibility
Benefits described below pertain to full and part-time regular employees working 20 or more hours per week. The descriptions of the benefits and policies outlined here are summary statements only and are not intended to be definitive. In all instances, the full text of the plan, policy or other appropriate document must be reviewed to determine the rights, benefits, and obligations of employees and Satcon.
Employees are eligible for group life and health benefits upon hire; there is no waiting period. Satcon reserves the right to alter and/or terminate any or all of these plans without notice.
Summary of Benefits
Group Benefits with Sun Life Financial
Satcon offers a comprehensive extended health benefits package through Sun Life Financial. This package includes prescription drugs; hospital benefits; out-of-province emergency coverage; medical services and equipment; paramedical services; and vision care.
This group benefits package also includes dental care; basic life insurance; accidental death & dismemberment insurance; long term disability insurance; and short term disability insurance (only applicable to hourly-paid employees).
Eligible employees may elect additional life insurance coverage through Sun Life Financial at a group discount rate.
Satcon pays all premiums for this plan, with the exception of long-term disability premiums and optional life insurance coverage; long-term disability and optional life insurance premiums are paid by the employee. Most of the health and dental benefits listed above have a small co-payment or deductible.
Satcon Group Registered Retirement Savings Program (RRSP)
- The Company will contribute 3% of an employee's base annual wage into a Group RRSP plan.
- This plan is offered through Industrial Alliance at no cost to the employee; administrative fees are paid for by Satcon.
- Employees have the option of contributing to the plan through payroll deductions from before tax earnings.
- There is no vesting period in this plan, and employees have access to the funds in the plan as soon as they are invested with Industrial Alliance.
Tuition Assistance Program
Satcon offers a tuition reimbursement program to all regular full-time and part-time employees working more than 20 hours per week. Employees are eligible to receive up to $4,000 per calendar year reimbursement of the cost of tuition, registration fees, textbooks, and laboratory fees for approved courses, if satisfactory grades are obtained in the course.
Time Off with Pay
Employees receive paid vacations and statutory holidays. In addition, Satcon offers paid sick days and two extra designated floater holidays during the year.