CPM offers eligible employees disability benefits should you become disabled due to a non-work related injury or illness, the short-term disability benefit will replace a portion of your income. After 180 days of continued disability, the long-term disability (LTD) benefit becomes available, if employee elects to enroll.
CPM will provide Short-Term Disability (STD) coverage through Guardian for employees at no cost. STD insurance provides a portion of your income if you are unable to work due to a covered illness or injury. STD benefits pay you 60% of your pre-disability earnings after a 7 day waiting period. STD for employees giving birth are paid 100% of their gross weekly base pay. Certain exclusions and limitations may apply.
| Short Term Disability | |
|---|---|
| Benefit | 60% of covered weekly pre-disability pay |
| Benefit Maximum | $1,500 per week |
| Benefits Begins | after you have been disabled for 7 days |
| Benefit Duration | 25 weeks |
| Earnings Definition | Base annual earnings |
CPM offers all eligible employees Long-Term Disability insurance (LTD) for additional protection at no cost. LTD insurance provides up to 60% of your income, up to $8,000 maximum benefit per month, if you become partially or totally disabled for an extended period of time. You must be disabled for at least 180 days before you are eligible to receive LTD insurance payments. In most cases, LTD payments are provided during your disability up to age 65, or longer depending upon your initial age at disability. Certain exclusions and preexisting condition limitations apply.
| Long Term Disability | |
|---|---|
| Benefit | 60% of covered monthly pre-disability pay |
| Benefit Maximum | $8,000 per month |
| Benefits Begins | 181st Day |
| Maximum Benefit Duration | For disabilities occurring before the age of 60, Social Security Normal Retirement Age (SSNRA) |
| Pre-Existing Condition Limitation | Yes |