Compensation and Benefits

Compensation & Benefits

SunEdison Semiconductor's comprehensive benefits program is designed to attract, retain, and reward outstanding, talented leaders in the industry. We strive to offer competitive compensation and benefit packages that provide long-term incentives, financial security and healthcare for employees and family members.

Compensation and Benefits packages differ around the world. At this time, the information on this website summarizes the US Benefits only. This is intended to be a general summary and is not intended to replace official plan documents. In the case of any discrepancy between the following information and Plan documents, the Plan document will prevail.

US benefits include:

Retirement Savings Plan
The RSP is a 401(k) savings plan that provides employees with the opportunity to save for their retirement. SunEdison Semiconductor will contribute 2 percent of pay into your account, even if you don't contribute. If you do contribute to the plan, the Company will also match 100% of the first 3 percent that you contribute to the plan, 50 percent of the next 2 percent and 20 percent of the next 1 percent for a total of 4.2 percent on 6 percent employee contribution. There is no vesting period, this means that the Company match and non-match contributions are automatically yours to keep. You may manage your funds on-line through Fidelity Investments.

Income Protection Plans
Short-term (ST) and Long-term (LT) income protection is offered for employees who may be hospitalized or disabled and unable to work. For qualified disabilities, 75 percent of base pay will be paid for a maximum of six months, after which an employee may be eligible for long-term benefits which are paid at 60 percent of base pay. Eligibility for ST disability is after six months of continuous employment and for LT disability after one year of continuous employment.

Benefit Coverage

Medical Coverage
Medical coverage for you and your qualified family members is available the first of the month following 60 days from the day you join SunEdison Semiconductor. Should you decide to participate in the program, you will be able to choose between different levels of coverage, offered through Cigna. The program offers a large network of participating doctors and medical facilities and does not require a primary doctor for referrals. Cigna also offers on-line and telephone outreach wellness and disease management programs, behavioral health, clinical support and case management tools tailored to your specific needs.

Prescription Drug Coverage
SunEdison Semiconductor offers ways to save money on prescription drugs through a 30-day retail or 90-day mail-order program. The RX program is administered through Cigna.

Dental Coverage
Dental plan coverage for you and your qualified family members is available on your date of hire and is provided through Delta Dental. We have a dental plan which contains and a wide range of providers.

Flexible Spending Accounts
SunEdison Semiconductor offers flexible spending accounts for health care and dependent care, which allows you to save on a pre-tax basis for out-of-pocket health and dependent care expenses. Your reimbursements are made by filing supporting documentation through our FSA administrator.

Life Insurance Plans
SunEdison Semiconductor provides employees with life insurance equivalent to one-time (1X) annual base salary at no cost to you. You may purchase additional coverage, up to an additional 6X base salary (up to plan maximum). SunEdison Semiconductor also provides Accidental Death and Dismemberment coverage equivalent to 1X base salary, at no cost to you.

You may also purchase life insurance coverage for a spouse and/or child(ren) at a minimal cost.

For business travelers, SunEdison Semiconductor provides Business Travel Accident coverage as well.

Time Off

Paid Time Off (PTO)
The PTO program provides employees with a personal bank of time off that merges vacation, sick time and holidays. This banked time may be rolled over from year-to-year*. If you do not celebrate a designated holiday and wish to work, you can use this day as an additional vacation day. If you do not normally take time off for illness, you have additional time for that vacation you've been planning. New employees earn PTO hours per bi-weekly pay period toward their bank. The earning rate increases after 5 years of employment and at various anniversary intervals.

*A maximum of 240 hours may be rolled over annually.

Other types of paid and unpaid Leaves include:

  • Personal Leave of Absence
  • Jury Duty
  • Funeral Leave
  • Family Medical Leave of Absence
  • Military Duty

Consult the Benefits Administrator for details on these programs.

Other Outstanding Benefits

Discounts
Discount programs are provided for gym memberships, auto/home insurance, legal services, and pet insurance.

Education Reimbursement
SunEdison Semiconductor promotes the development of our employees who are pursuing education through accredited institutions and is related to their current or future careers within the Company.

Employee Assistance Program (EAP)
Confidential, short-term professional counseling is offered at no cost to the employee or eligible dependents, for those times when you may be dealing with a difficult life event. The EAP offers a variety of life management services in addition to professional counseling. These include: budget/debt consolidation, financial planning, identity theft information, legal consultation, child care resource and referral, education planning services, elder care management, weight and nutrition consultation, smoking cessation, will preparation, retirement consultation, coping with illness and parenting consultation.