Benefits to working at WesBanco.
WesBanco’s Group Health plan includes medical and dental coverage effective the first of the month on or following date of hire. Employees eligible to participate are all full-time employees and all part-time employees that work on average at least 17.5 hours per week.
The medical plan includes prescriptions and vision benefits through a PPO or HMO. The High Deductible PPO plan is accompanied by a Health Reimbursement Arrangement (HRA), which is an employer funded account that employees can use to help defray medical expenses.
The dental plan covers preventive (cleanings and x-rays), basic (fillings, extractions), major (crowns, dentures) and dependent orthodontia services to age 19.
Flexible Benefits Plan (Flex Plan)
The WesBanco, Inc. Flex Plan is designed to provide employees the opportunity to pay for qualified benefits with pre-tax rather than after-tax dollars, which increases take-home income. All medical and dental premiums are payroll deducted on a pre-tax basis.
Health Care & Dependent Care Flexible Spending Accounts
Health Care and Dependent Care Flexible Spending Accounts are also available under the Flex Plan. Employees can set aside money on a pre-tax basis to cover unreimbursed medical/dental and/or dependent care expenses. Employees eligible to participate are all full-time employees and all part-time employees that work on average at least 17.5 hours per week. Employees can begin participation on the first day of the month following date of hire pending receipt of applicable benefit enrollment information.
Paid vacation days accrue on a quarterly basis, and employees are eligible to utilize vacation days after the successful completion of the initial employment period. A maximum of four (4) weeks vacation is based on years of service.
Paid Absence Days
Employees are eligible for absence days after the successful completion of the initial employment period.
Short Term Disability Days
Paid short term disability days at 100% of salary for full-time employees for employee illness after successful completion of the initial employment period. Benefits accrue based upon category and years of service.
Premium fully paid by the bank for all full-time employees. Coverage is effective 31 days after date of hire.
Most Federal Reserve Bank holidays are observed.
Group Life Insurance & Accidental Death & Dismemberment
Premium fully paid by the bank for all full-time employees. The amount of insurance is 3 times the employee’s annual salary, rounded to the next higher $1,000, up to a maximum of $500,000.
Optional Term Life Insurance (through Group Life Plan)
Optional life insurance is available for full-time employees at the group rate. Premium rates are based upon age and covered through payroll deduction. Employees can purchase optional life insurance in increments of $10,000 up to $300,000. Employees can also purchase optional life insurance for spouses and dependents at the group rate. Life insurance for new employees is offered at a guarantee issue up to $100,000. Additional restrictions may apply.
Colonial Life Products (Voluntary)
All full-time and part-time employees who work an average of at least 17.5 hours per week are eligible to participate at the first of the next quarter following date of hire. Products include: Short-Term Disability; Cancer Insurance; Term and Universal Life Insurance, Critical Illness, and Accident Insurance. Some policies sold on a pre-tax basis only. Additional restrictions may apply to certain products.
Transportation Fringe Benefit Plan
The transportation plan is designed to provide employees the opportunity to pay for qualified transportation benefits with pre-tax rather than after-tax dollars through a reimbursement program. Qualified transportation benefits include parking, vanpooling and mass transit passes.
WesBanco, Inc. KSOP Plan
The KSOP has two parts: The Employee Stock Ownership Plan and the 401(k) Plan. Employees, at least 21 years of age, are automatically enrolled in the plan the first of the month on or after 60 days of employment. Employees, who are not 21, will be automatically enrolled on the first day of the month on or after 60 days following your 21st birthday.
- Employee Stock Ownership Plan (ESOP)
: Vehicle through which the Corporation may purchase shares of WesBanco, Inc. Common Stock for discretionary allocation to the employees. Employees are vested in any ESOP allocation after the completion of five (5) years of vesting service.
- 401(k) Plan
: The 401(k) Plan is a pre-tax vehicle for savings. The employer-matching contribution is 100% on the first 3% of compensation deferred, and 50% on the next 2% of compensation deferred. Therefore, an employee who defers 5% of compensation is matched in cash at 4% by WesBanco. Employees are immediately vested in the employer match. WesBanco automatically enrolls employees at 3% of compensation invested in the T. Rowe Price Retirement Fund (based upon appropriate age bracket). Participants may change their contribution rate and investments upon receipt of their plan information via the website or voice response line at any time.
All employees are eligible to take classes offered through AIB (American Institute of Banking). AIB’s program allows employees to continue higher education while specializing in the banking field. The tuition fee and the cost of books for approved courses will be paid for by the Bank if the employee satisfactorily completes the course. All full-time employees are eligible to apply for reimbursement for coursework at an approved educational institution.
In addition to the various health, insurance and retirement benefits you receive as a WesBanco employee, we also offer a host of other services and activities to show our employees that we appreciate their dedicated effort and commitment to WesBanco. It’s important to us that our employees know we consider them both individually, and as a part of the entire corporation, to be a valuable asset to WesBanco.
- One free checking account (including free unlimited checks) and/or savings account
- Free Bill Pay (online bill payment) Service
- A free, small size safe deposit box (or a larger box for which the employee will receive credit equal to the cost of a small box)
- Discount on auto loan or fixed rate home equity loan
- Discount on residential mortgage loan
- Discounted interest rate on WesBanco credit card
- Discount on Trust fees for the employee and immediate family members
- Waiver of deposit and minimum investment requirements when investing in WesMark funds
RETAIL DISCOUNTS: :
- AT&T Wireless – Discounts on cellular services and supplies
- Verizon Wireless – Discounts on cellular services
- Enterprise Rental Car Rental car discounts on personal travel
- Dell Computers - Special employee discounts on products and services.
Explore your own financial information in greater detail by using these powerful
tools for forecasting and assessing your financial choices.