Benefits at a Glance
Follett Corporation offers a comprehensive and competitive benefits program. All active, full-time associates are eligible for most benefits on the first of the month following 30 days of full-time service. Enrollment for benefits must be completed within 31 days of the associate’s full-time status date.
The following is an overview of benefits offered by Follett.
Most associates can choose from one of three consumer driven health plan options from Anthem Blue Cross® and
Blue Shield® - the Lumenos HRA, Lumenos HSA Plus and Lumenos EPO/HIA Plans. In a few geographic locations, a non-Lumenos health plan may be offered.
A comprehensive Dental Preferred Provider Organization (DPPO) and where geographically available, a Dental Maintenance Organization (DMO) is available.
Follett provides a vision care savings program which offers freedom of choice and simple easy access to benefits and savings.
Flexible Spending Accounts
Follett offers flexible spending accounts which allow associates to use tax-free dollars to pay for eligible health care and/or dependent care expenses.
Associates can choose this benefit to help reduce their commuting expenses for parking and transit.
Life Insurance and Accidental Death & Dismemberment
Follett provides basic life and accidental death and dismemberment insurance at no cost to associates while they are employed. Follett also offers the opportunity to purchase personal accident insurance for themselves and their family members.
Dependent Life Insurance
If an associate elects supplemental life insurance, he or she may purchase life insurance for eligible dependents.
This program provides protection during periods of extended sickness and disability caused by non-occupational accidents and illnesses.
Long-Term Disability (LTD)
Follett provides basic long-term disability insurance equal to a percentage of an associate’s eligible pay, up to a maximum monthly benefit at no cost to associates. The option to buy additional LTD coverage is available for associates to purchase.
Associates can elect Long Term Care insurance, which offers protection for associates and their eligible family members in need of extended long term care.
Follett Retirement Savings Plan
The Follett Retirement Savings Plan has two components – a 401(k) component and a profit sharing component. Under the 401(k) component, associates can contribute a percentage of their pay on a pre-tax basis and Follett will match those contributions dollar for dollar, on up to 4% of an associate’s eligible pay. Under the profit sharing component, Follett may make an annual discretionary profit sharing contributions based on profits.
Upon satisfactory completion of an approved course of study, Follett will reimburse eligible associates for 100% of tuition and fees, subject to applicable taxes and withholding.
Available to eligible associates to help provide financial assistance when incurring the expenses related to adopting a child.
Follett matches associate gifts, up to $3,000 per year, to qualifying educational institutions and up to $3,000 per fiscal year to qualifying charitable organizations.
The Follett Educational Foundation is an independent, not-for-profit corporation that provides financial assistance to sons and daughters of Follett associates.
Section 529 College Savings Plan
Offered to help associates save for a college education for their family members or for the associate.
A financial solution to manage veterinary costs by reimbursing eligible expenses for accidents, illnesses and routine preventive care.
Follett WorkLife Solutions
Follett offers free and confidential access for associates and their dependents to a wide array of resources such as counseling, legal, financial and family guidance services.