Yamaha Guitar Group, Inc. Benefits Program
Yamaha Guitar Group, Inc. has developed an extensive benefits package as part of our total compensation plan. This package includes medical, dental and life insurance plans, long-term disability coverage, AFLAC plans, paid vacation, sick and holiday time, 401(k) plan for all regular, full-time employees. In addition, every regular, full-time employee is eligible for our annual bonus plan.
Annual Bonus Potential
This is based on company performance and is a percent of your base salary. Pay-out under this plan is contingent on the company meeting its financial objectives.
Medical and Dental Insurance
Yamaha Guitar Group offers both medical (HMO or PPO plans) and dental (PPO or DMO plans) insurance. The company pays 100% of the premium for the medical HMO and dental plans for employee coverage and a substantial portion of the PPO plan. Spouse/domestic partner and dependent coverage is also available.
Flexible Spending Accounts
Our Flexible Spending Accounts allows employees to set aside pre-tax dollars in two ways:
- You may set aside up to $3,000 each year to pay for eligible health care expenses.
- You may set aside up to $5,000 each year to pay for eligible dependent care expenses.
We have a Fidelity 401(k) plan to help you save for your future. This plan allows contributions of part of your compensation on a pre-tax basis. This means you can reduce your current federal and state income taxes while investing in your future.
- The plan gives you a choice of over 30 different investment options.
- You may contribute between 1% - 60% of your base pay into the plan.
- You may also contribute your annual bonus into the plan (subject to annual plan limits).
- You may rollover your prior 401k into our plan.
- There is also a loan provision just in case you need to tap into those resources.
We pay 100% of the premium for a life insurance plan, which is equal to your annual salary. This policy also provides accidental death benefits and partial benefits in the event of an accidental loss of limb or eyesight.
Long-Term Disability Insurance
This insurance begins on the 90th day of your disability. The coverage integrates with state disability, social security disability, or any other disability coverage you may have to provide you with 60% of your covered earnings (up to $10,000/month).
AFLAC will cover some of the gaps in your health insurance, such as copayments and deductibles, as well as, the non-medical costs you may incur. These plans pay cash directly to you regardless of any other insurance you have.
All regular, full time employees are eligible for paid vacation time.
Our non-exempt employees earn paid sick leave at the rate of four hours per month. Except for an eight-hour carry-over, unused sick pay is paid out at the end of the year.
Our non-exempt employees are eligible to take up to two days of paid personal leave during each calendar year.
We have nine paid holidays during the year. The following are the holidays we observe: New Year's Day, President’s Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving Day, the day after Thanksgiving, Christmas Day and either Christmas Eve Day or the day after Christmas.
Employee Referral Bounty Program
Once you're a regular full-time employee, you are eligible for our Bounty program, which pays up to $3,000 for every candidate referral that is ultimately hired. After your third successful referral, you’ll receive an additional $1,500 BONUS gift.
Yamaha Guitar Group employees may join Premier America Credit Union, which offers a broad array of financial services, including checking and savings accounts, certificate of deposit accounts, IRA’s, loans and much more!
Yamaha Guitar Group offers a Wellness Program designed to educate employees on how to achieve their health and fitness goals and to provide them with valuable resources and information. Included in this program are a confidential Employee Assistance Plan (EAP) to assist employees with life’s everyday issues, lunch & learns, health newsletters, discounts on health and wellness products, gym memberships, massage therapists, weight-loss programs and much more.
Here at Yamaha Guitar Group we truly believe in the importance of balancing work, family and fun! In our drive to accomplish this, you will find Yamaha Guitar Grouper's enjoying many exciting off-hours activities. Some of these include mountain biking and hiking in the local Santa Monica Mountains, surfing and fishing. We are also active in our community with organizations such as the American Red Cross, Boys & Girls Club, Big Brothers & Big Sisters of Ventura County, Berklee College of Music, several local Junior High and High Schools and others.
We place an extreme value on our relationship with our employees and their families. Our annual summer family picnic is no regular event - it's an all day blow-out and includes a “Battle of the Bands.” Our holiday party is at the world-famous Canyon Club and includes dinner, dancing and music courtesy of our talented employees. We also host quarterly “Jams” for employees and their families, which feature live music, dinner and socializing with fellow employees.
This summary is provided for general information purposes only on our benefits and policies which are currently in place. Plan documents should be referred to for details, limitations, exclusions, and provisions, which may apply.