Benefits and rewards, as well as pay practices, can tell you a lot about a company: its beliefs, its culture and how it values its employees and their families. Morgan's benefits and rewards, based on a pay-for-performance philosophy and respect for the individual, are among the most comprehensive and competitive in our industry. Morgan's success is due, at least in part, to its open organizational structure, which encourages communication and an environment where an individual can truly make a difference in a team-oriented atmosphere. When Morgan says people are its most important asset, it really means it.

Benefits:
Benefit comparison surveys continue to evaluate our benefits package as in the very competitive group. We offer two excellent health care options, dental insurance, a health care waiver, medical and dependent care spending accounts, a Morgan pension plan, a Morgan profit sharing plan including a 401K plan with a company match, group life insurance, travel insurance, tuition reimbursement, sickness and accident plan, long-term disability, and an employee assistance program.

Health and Well-being:
Morgan provides benefit plans designed to minimize the effects of a catastrophic accident or illness for employees and their families while also offering programs that promote illness prevention and a healthy lifestyle. Health and welfare related benefits include:

• Health Care programs offering the choice of two of the top rated national health plans including:
  • Fallon Health Plan
  • Harvard Pilgrim Health Care
• A Health Insurance Waiver bonus plan that provides a cash benefit of up to $1,350 if you take medical coverage from another source.
• Dental Assistance Insurance from Delta Dental
• Flexible spending accounts enabling employees to set aside money on a pretax basis, to pay dental and health care expenses, as well as dependent care expenses.
• Short and Long Term Disability Plans insuring the income of employees unable to work due to a disability.
• Life Insurance benefits to include basic Group Life, Pension Group Life, Travel Insurance, and the option to purchase supplemental employee, spousal, and dependent life insurance at group rates.
• Employee Assistance Program providing confidential professional assistance for employees dealing with non-work related personal or family issues.

Retirement Income:
Providing for the future. Morgan provides retirement income through our Pension and Profit Sharing Plans in the following manner:

• Morgan Pension Plan is a defined benefit plan. The final benefit is based on your years of service, age at retirement, and the consecutive three highest years' salary.
• Morgan Profit Sharing Plan is a defined contribution plan, which features a full spectrum of investment options that, combined with investor education programs, allow employees to manage their investments wisely. Each employee has an account in their name which can receive contributions from the following sources:
  • Company contributions to Profit Sharing, which are announced annually and based on annual financial results.
  • Employee 401k pre-tax contributions.
  • Employer-Match 401(k) contributions. Morgan matches 50% of the first 4% employee contribution.
  • Post tax employee contributions.
  • Rollovers from Qualified Retirement Plans.

Career Development - Professional Growth:
Morgan encourages employees to work toward individual career goals and has a tradition of promoting from within. The company makes it easy for employees to acquire additional skills for their present position and new skills for future opportunities through programs including:

• Educational Assistance providing reimbursement for approved courses or degree programs offered by accredited institutions. Morgan currently reimburses 75-80% of tuition up to $5,250 annually for approved courses when passing requirements are met.
• Management Development offering management and leadership development programs.
• External Development encouraging employees to take advantage of outside programs that enhance career development, including conferences, seminars and professional trade memberships.

Compensation:
We offer salaries competitive with the best companies in our industry worldwide. Our success is shared with employees through profit sharing and a creative pay program. Nonexempt employees are rewarded for their skills through a "value based pay" system. Performance awards complement our compensation package.

Pay for Performance - Rewards for Contributions:
Morgan's compensation and pay practices are designed to attract, retain and motivate talented and enterprising people in a highly competitive industry. Its competitive, performance-based pay practices and special reward programs include:

• Performance Management System emphasizing regular and honest communications with employees about performance expectations, performance metrics, achievements and personal development, fostering individual excellence as well as successful team behavior.
• Morgan's Performance Award program provides an opportunity for regular distribution of a bonus based on company and individual performance.
• Competitive Analyses making every effort to ensure salaries are both externally competitive and internally equitable by conducting regular salary reviews and regular external analysis.

The Extras - Difference That Counts:
Open Communications putting a premium on open, honest, respectful communications at all levels, including online access to company information, regular employee meetings, and open access to senior management, Human Resources, and the CEO.