Profile of Pepco Holdings, Inc.

By: Source: AARP.org Date Posted: 2005-10-19 15:35:42

Pepco Holdings, Inc. strongly values its retiree's knowledge, skill and experience and recognized the need to provide these individuals with ongoing work opportunities. Since retirees could not retain their pension plan benefits with Pepco rehiring the retirees, the company contracted the services of a third party employment agency. Retirees can work full or part time and maintain their pension and medical benefits.

Other Benefits:

  • Workplace Culture/Continued Opportunities: The company's Educational Assistance Plan covers 90 percent of tuition and fees for full and part time employees.
  • Benefits/Health: Full time employees pay 14 percent of the individual and family health insurance premium and 49 percent of the premium for prescription drug coverage. Part time employees (must work a minimum of 20 hours per week) pay 14 percent of the individual health insurance premium, 32 percent of the employee and family health insurance premium, and 49 percent of the premium for prescription drug coverage. Employees receive short term and long term disability and these benefits are covered by the company in full.
  • Benefits/Financial: The company offers a defined benefit, defined contribution and cash balance plan to its full and part time employees. 401(k) match for management is 100 percent of first 3 percent and 50 percent on next 3 percent. Union employee match varies based on union affiliation; .50 cents on the dollar up to 6 percent /.50 cents on the dollar up to 5 percent/ .40 cents on the dollar up to 6 percent. Employees are immediately vested with no waiting period to enroll, and options for withdrawal, transfer, loan, after tax contribution and hardship withdrawal provisions are available. 'Getting Ready for Retirement' financial planning workshops are offered to employees and spouses.
  • Benefits/Flexible Scheduling: The company offers the following alternative work arrangements: flextime, compressed work schedules, part time work, job sharing, and telecommuting.
  • Retirees: The company has a designated employee with direct responsibility for retiree relations and provides a regular channel of communication with retirees. The company also provides its retirees with ongoing access to retirement planning workshops/information.
  • Age of Workforce: PROPRIETARY

Related Articles

Other Resources

More Articles on Work »

Comments

preview