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Benefits
The benefits program at LifeWay Christian Resources provides employees and their families with many important features that assure protection and security for critical life events. This information highlights some of the benefits offered to LifeWay employees, but it is not a complete listing of all the benefits and services.
Medical Insurance
Employees are given a choice of three medical insurance plans, enabling them to select a plan that best meets their personal needs. Employees enter the plan the first day they report to work. LifeWay pays a significant portion of premiums for basic coverage for its employees and pays a portion of their dependents' coverage. Dental and vision coverage is also available.
Life Insurance
LifeWay also pays the premium for group term life insurance equivalent to 2.5 times the annual earnings, up to a maximum of $750,000. Employees enter this program on their first day of employment. LifeWay also offers supplemental life insurance, accidental death and dismemberment, travel and dependent coverage to meet additional needs of employees.
Retirement Plan
Employees become eligible to participate in LifeWay's retirement plan after one year of employment or immediately if age 35 or older when employed. The plan is a defined benefit program, and the employee makes no contribution to the plan. Benefits are based upon years of service and average salary at the time of retirement. At age 55, with 10 years of service, an employee is eligible for early retirement benefits under the plan. Long-term disability coverage is also included in the plan.
Paid Vacation and Holidays
LifeWay employees are eligible for 10 days of vacation during their first full year of employment. Additional vacation time is awarded after five years of service. Each employee is eligible for 10 holidays, including one floating holiday to be taken at the employee's discretion with supervisor approval.
401(k) Plan
Employees are encouraged to supplement their retirement through LifeWay's qualified 401(k) Plan. This is a long-term savings plan in which LifeWay matches the employee's contribution after one year of service. Employees can contribute and receive LifeWay's matching contribution as follows: the first 2 percent of contribution is matched by LifeWay at 100 percent; the next 1 percent is matched by 75 percent; and the next 1 percent is matched by 50 percent. Several investment options are available for the employee to self-direct the investment of contributions and LifeWay's match. Vesting of LifeWay's contribution match begins after 2 years of service. Employees are 100 percent vested after 5 years of service.
Tax$aver
LifeWay employees may participate in a tax reduction plan that shelters them from federal income taxes for the part of their salary used to pay certain medical expenses not covered by medical insurance and certain child care expenses. Medical premiums are automatically tax sheltered.
Tax-sheltered Annuity Plans
Because LifeWay Christian Resources is a Southern Baptist agency, employees may participate in the tax-sheltered annuity plans through the GuideStone Financial Services of the Southern Baptist Convention located in Dallas, Texas. GuideStone was formerly the Annuity Board.
- Cancer/Intensive Care Insurance
- Supplemental Long Term Disability
- LifeWay Credit Union
- Training and Development
- MetPay, auto and home group rates
- Long Term Care