Employee BenefitsWe Believe Employee Benefits Contribute to and Reflect the Overall Health of an Organization
Our team has more than 35 years of accounting, auditing and tax experience relating to defined contribution plans, including ESOPs and KSOPs, defined benefit, and welfare benefit plans. Brown Edwards is a member of the AICPA Employee Benefit Audit Quality Center which serves as a comprehensive resource provider to support its members in the performance of their benefit plan audit practice.
All benefits are effective on the first day of the month following date of hire unless otherwise noted.
Brown Edwards offers associates several options of health insurance plan selections for hospitalization and major medical insurance coverage through a national health insurance carrier. The firm pays all but a minimal amount for associates’ coverage.
We offer two dental insurance plans for employees through a major dental insurance carrier.
Brown Edwards offers its associates a supplementary vision care program through the health insurance plan.
The firm provides disability insurance to associates after completing twelve months of service with the Firm.
Short-term – The firm pays 60% of an associate’s salary, up to a maximum of $7,500 per month, after 31 days of continuous absence due to an injury or illness. Long-term – Brown Edwards pays the full cost of this coverage for all eligible assocaites.
Term life insurance of approximately three times the associate’s annual salary, up to a maximum of $200,000, is provided for all associates who qualify for the plan after six months of service with Brown, Edwards & Company. The plan covers each associate’s spouse for 1/4 of the associate’s coverage up to a maximum of $20,000 and dependent coverage up to a maximum of $4,000. The plan also has an accidental death and dismemberment rider equal to the base insurance.
Section 125 Plan
Brown, Edwards & Company offers associates the option to participate in a Flexible Benefit Plan. Three reimbursement options are available to all associates. Under each of these plans, the expense is paid by the associate, with before-tax, rather than after-tax dollars. Pre-Tax Benefit gives associates the option to have their portion of medical insurance premiums deducted from their pay on a pre-tax basis.Associate’s may elect to set aside pre-tax dollars for non-reimbursed Medical Expenses, up to $4200 per plan year, on a pre-tax basis. Associate’s may elect to set aside pre-tax dollars to cover Dependent Care Expenses up to $5000 per plan year.
The Firm sponsors a 401(k) plan that allows associates to set aside a portion of their pre-tax earnings. In addition, the Firm matches elective deferrals. The match percentage is 33% or a $1 match for each $3 elective deferral made after July 1, 2008. The 33% match applies to elective deferrals up to 9% of compensation for each pay period. The plan is purely voluntary on the part of each associate. Associates are eligible upon employment to set aside up to 100% of their salary up to the annual maximum allowed by the IRS.
As of the Firm’s fiscal year end (May 31), Associates who have completed one year of employment with the Firm are eligible for an annual discretionary contribution made by the Firm. The contribution is based upon a percentage of the associate’s earnings. The allocated contributions are subject to a six-year vesting schedule.
The 401(k) Plan and/or the Profit Sharing Plan can be invested in either the Brown, Edwards & Company, L.L.P. Diversified General Fund or in a number of mutual funds provided through John Hancock.
Paid Time Off (PTO)
Paid Time Off is earned at the rate of one and one-half days per month up to eleven days during your first year. Associates have sixteen days after completing one year, twenty-one days after seven years of service, and twenty-six days after fifteen years of service. In addition, upon promotion to senior associate, 21 days of PTO is allowed regardless of years of service. Senior associates who are promoted to Director are allowed 26 days of PTO. Up to six days of PTO per year may be “banked” up to a total of 20 days.
The Firm observes the following holidays: New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving and the day after Thanksgiving, Christmas Day and the first Friday following April 15th. The Christmas Holiday may be extended at the discretion of the Firm depending on which day the holiday falls.
Business Casual Dress
When appropriate, associates may dress casually.
Associates are mentored by assigned Directors with semi-annual performance evaluations so as to assist in creating and implementing professional development plans for associates..
The Firm pays the fee for sitting for the CPA exam a maximum of twice for each part. Associates will receive $100. monthly salary increase after passing the entire exam.
Continuing Professional Education (CPE)
The Firm will provide at least 40 hours of CPE for all full-time professional associates. Educational needs are evaluated as associate careers progress
Professional Memberships and Civic Organizations
The Firm encourages all associates to join and participate in professional and civic organizations. The Firm will pay associate membership dues in the American Institute of Certified Public Accountants, the State Societies of Certified Public Accountants, and approved civic organizations.
Associate Recruiting Bonus
The Firm provides monetary rewards and incentives to any associate who refers a “qualified individual” to the Firm for employment.
Complimentary parking is provided.
Brown, Edwards & Company, L.L.P. hosts a variety of activities throughout the year including associate meetings, in-house educational sessions, seasonal celebrations and parties, and other events to foster team building within the Firm and associates.