FOR INTERNAL USE ONLY
2015 DSM Benefits
FOR INTERNAL USE ONLY
What We Will Cover Today
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Summary of DSM Benefit Choices
Eligible Participants
Medical
Wellness Program
Decision Tools
Dental
Vision
Flexible Spending Accounts
Life & AD&D Insurance
Business Travel Accident
Disability Coverage
Legal Assistance
Home- Auto - Umbrella Insurance
Employee Assistance Program
401(k) Retirement Savings Plan
What’s Next
Page 1
FOR INTERNAL USE ONLY
DSM Benefits
• DSM is pleased to provide a
comprehensive benefits
program to our employees
• A key resource is
myDSMbenefits.com
• Enrollment in health and
welfare benefits is required
within 30 days of your hire
date
• You are automatically
enrolled in the 401(k) plan
for a 3% salary contribution
Page 2
FOR INTERNAL USE ONLY
DSM Benefits
Provided Automatically
by DSM at No Cost to You
You Must Elect /
You Pay or Share in the Cost
Basic Life Insurance
Medical Coverage*
Basic AD&D Insurance
Dental Coverage
Business Travel Accident Insurance
Vision Coverage
Short-term Disability
Optional Life Insurance
Core Long-term Disability
Optional AD&D Insurance
Employee Assistance Program
Buy-up Long-term Disability
Healthyroads Wellness Program
Flexible Spending Accounts
Health Savings Account
Legal Services
Home, Auto, Umbrella Insurance
* The Consumer Directed Health Plan for employee only is the default medical plan if
employees take no action by the enrollment deadline.
Page 3
FOR INTERNAL USE ONLY
Eligible Participants
• You (regular full-time or part-time employee scheduled to work 20
hours or more/week)
• Your spouse
• Your domestic partner (same and opposite-sex)
• Your children and children of your domestic partner up to age 26
(age 19 for dependent life and AD&D insurance)
• Your disabled dependents over age 26 (over age 19 for dependent
life and AD&D insurance)
Page 4
FOR INTERNAL USE ONLY
Eligible Dependents and Health Care Costs
In an effort to efficiently manage our benefit plans and control
costs, DSM has the following in place:
• Dependent verification when dependents are initially enrolled
and on an ongoing basis to ensure DSM is providing coverage to
only eligible dependents. The DSM Benefits Center
will send you a detailed letter outlining the process and
requirements.
• A Spousal Surcharge applies to employees who cover a
spouse/domestic partner under the DSM medical plan when he
or she has access to coverage through his or her own
employer.
Page 5
FOR INTERNAL USE ONLY
Your 2015 Medical Options
• High Option PPO Plan
• Low Option PPO Plan
• Consumer Directed Health Plan
All medical plans are part of the Blue Cross Blue Shield
BlueCard PPO network and prescription benefits are provided
through the Express Scripts pharmacy network.
There are no pre-existing exclusions in any of the medical plans.
Page 6
FOR INTERNAL USE ONLY
Comparing Your Options – Key Features
High Option PPO
Low Option PPO
Consumer
Directed Health
Plan
Highest
Medium
Lowest
$350
$700
$1,050
$1,050
$2,100
$3,150
$1,500
$3,000
$4,500
Out-of-Pocket Maximum*
(includes deductible)
Employee only
Employee + 1 dependent
Family**
Medical only
Medical only
Medical & Rx
$1,850
$3,700
$5,550
$2,850
$5,700
$8,550
$4,500
$9,000
$12,700
Plan account you can
elect
Health Care FSA
In-Network
Employee contributions
per paycheck
Annual deductible*
Employee only
Employee + 1 dependent
Family**
Health Care FSA
* The deductible and out-of-pocket maximum work differently in the PPO’s than in the CDHP
** Means employee + 2 or more dependents
Page 7
• Health Savings
Account
• Limited FSA
FOR INTERNAL USE ONLY
Comparing Your Options – Key Features
In-Network
High Option PPO
Low Option PPO
Office visits
Primary care
Specialist
Mental health/
substance abuse
Chiropractic/physical
therapy
You pay:
$20 copay
$40 copay
$20 copay
You pay:
$20 copay
$40 copay
$20 copay
$30 copay
$30 copay
Plan pays for most
other covered care
Plan pays:
90% after
deductible
Plan pays:
80% after
deductible
Consumer
Directed Health
Plan
Plan pays:
80% after
deductible
Plan pays:
80% after
deductible
Once you reach the out-of-pocket maximum, the plan pays 100% of certain eligible expenses for the rest of
the calendar year. (You will still pay copays for some services in the High Option and Low Option PPO Plans.)
Page 8
FOR INTERNAL USE ONLY
Key Differences
High Option PPO and Low Option PPO
Consumer Directed Health Plan
• Higher per paycheck costs – and lower • Your per paycheck cost is lowest. In
deductibles
exchange, you have a higher
deductible
• Copayments (with no deductible)
• You must satisfy the full deductible
apply to in-network office visits, most for the coverage tier you elect before
prescription drugs and some other
you receive benefits
services
• Deductible and coinsurance apply to
• Deductible and coinsurance apply to
most other services and nonmost prescription drugs and nonpreventive medical care
preventive medical care; there are
no copayments
• Your cost for prescription drugs
• Your cost for prescription drugs
applies to a separate out-of-pocket
applies to the combined out-ofmaximum for prescription drugs;
pocket maximum for medical and
costs do not apply to the medical out- prescription drugs
of-pocket maximum
Page 9
FOR INTERNAL USE ONLY
Key Differences
How the Deductible and Out-of-Pocket Maximum Work
Plan starts paying
expenses when:
High Option and
Low Option PPO …
Consumer Directed
Health Plan …
Individual or full
deductible for your
coverage tier is met
Full deductible for
your coverage
tier is met
Out-of-pocket maximum
works the same way
10
FOR INTERNAL USE ONLY
How the Consumer Directed
Health Plan Works
In-Network Example
When You Need…
When You Meet the…
Preventive
Medical Care:
Non-Preventive
Medical Care or
Prescription Drugs:
The plan pays 100% of
in-network covered
services
• You pay 100% of
covered services up
to the deductible
• You pay with money
from your pocket or
your Health Savings
Account
Page 11
Deductible:
• The plan begins to
share costs with you
• You pay 20% of
covered services up
to the out-of-pocket
maximum (includes
deductible)
Out-of-Pocket
Maximum:
The plan pays 100% of
covered services for
the rest of the year
FOR INTERNAL USE ONLY
The Health Savings Account Advantage
(available if enrolled in the CDHP)
DSM helps you save.*
$250 yourself only
$500 you + your spouse/domestic
partner
$750
you + child(ren), or family
You can also save.
You decide how much (up to IRS
limits), and you can change your
future contributions any time during
the year.**
It’s like a reduction in your deductible.
You don’t pay taxes.
It’s your money.
Your HSA contributions and DSM’s
are tax-free going into your
account – and when you use them
for eligible expenses.
Use it to pay current expenses –
or roll it over for the future,
even if you leave DSM.
* Prorated depending on your hire date.
** You may not change your election amount to less than what you have already contributed.
Page 12
FOR INTERNAL USE ONLY
How the Health Savings Account Works
How the Health Savings Account Works
Money Goes In
Money Comes Out
DSM contributes* from $250 to
$750 to your HSA for 2015,
depending on the number of
dependents you choose to cover.
You pay 100% up to the
deductible for prescription
drugs and non-preventive
medical care.
You can make before-tax
contributions from your pay.
Your contributions when
combined with DSM’s can be up
to:
• $3,350 for employee-only
coverage
• $6,650 if you enroll
dependents
• $1,000 for catch-up if you are
age 55 or older
You pay coinsurance up to
the out-of-pocket maximum.
* Prorated depending on your hire date.
Page 13
You pay with money from
your pocket or your HSA.
Have Money Left?
You Never Lose It
Any money left in your
account at the end of the
year remains in your
account. It’s yours to pay
future expenses, even if you
leave DSM.
Account earns interest, and
you can choose to invest
money in your account on a
tax-free basis in a range of
investment funds if you have
$1,000 in your account.
FOR INTERNAL USE ONLY
American Well
•
DSM offers programs to support your health
•
American Well, a Horizon BCBS telehealth
program
•
Go online, call or download the convenient,
easy-to-use American Well app to enroll
•
Highlights:
– 24/7 access to a doctor via phone or
computer conferencing
– Provides help with non-emergency
medical problems
– U.S. board-certified doctors
– Your cost for each consultation is treated
like a primary physician office visit; for
the CDHP, the coinsurance may be less
than going to a doctor’s office
Page 14
DSM.AmWell.com
See myDSMbenefits.com
for service restrictions by state.
FOR INTERNAL USE ONLY
Prescription Drug Coverage – In-Network
Your Cost
High Option PPO
Low Option PPO
Consumer
Directed Health
Plan
Retail - 30-Day Supply
Generic
$15
$15
Preferred Brand
$30
$30
30%
$50 minimum/
$100 maximum
30%
$50 minimum/
$100 maximum
Non-Preferred
Brand
20% after medical
plan deductible*
40% after medical
plan deductible*
Mail Order - 90-day Supply
Generic
Preferred Brand
Non-Preferred
Brand
$37.50
$37.50
$75
$75
30%
$125 minimum/
$250 maximum
30%
$125 minimum/
$250 maximum
20% after medical
plan deductible*
40% after medical
plan deductible*
* Combined medical/prescription drug deductible
If you go out-of-network, you will pay the retail cost of the prescription at the pharmacy and be
reimbursed for a portion of the cost later if you file a claim
Page 15
Consumer Directed
Health Plan Only
You must meet the annual
combined medical and
prescription deductible
before the plan begins sharing
the cost for prescription
drugs, except for certain
preventive medications.
Certain Preventive
Medications are Covered
at 100%
Some prescription drugs and
over-the-counter medications
and supplements are covered
at 100% with no copayment
or deductible.
FOR INTERNAL USE ONLY
Prescription Drug Coverage
Prescription Drug
Benefits
High Option PPO
Low Option PPO
Consumer Directed
Health Plan
Out-of-Pocket Maximum for Prescription Drugs*
Employee Only
Employee + 1
Dependent
Family
(Employee + 2 or
more dependents)
$1,200
$1,200
$2,400
$2,400
$3,600
$3,600
The medical and
prescription drug
out-of-pocket
maximum is
combined.
* Your in-network and out-of-network covered expenses apply to the out-of-pocket maximum.
Copays and coinsurance count toward the out-of-pocket maximum.
Page 16
FOR INTERNAL USE ONLY
Medical Contributions- Monthly
High Option PPO
Low Option PPO
Consumer Directed
Health Plan
Employee only
$136.57
$102.46
$63.29
Employee + Spouse
$248.14
$179.92
$126.59
Employee + Child(ren)
$225.82
$164.43
$113.93
Employee + Family
$337.39
$241.89
$177.22
Page 17
FOR INTERNAL USE ONLY
Spousal Surcharge
• A spousal surcharge is an extra dollar amount you pay each pay period
if you choose to cover your spouse/domestic partner under the DSM
medical plan and he or she has access to medical coverage through his
or her own employer
• If you plan to cover your spouse/domestic partner under the DSM
medical plan, you may be charged an additional $1,200 (pre-tax) per
year for medical coverage prorated throughout the year
• If your spouse/domestic partner works for DSM, this surcharge does not
apply
• If your spouse/domestic partner is covered under a retiree medical
plan, COBRA or Medicare, this surcharge does not apply
• A question asking if your spouse/domestic partner has access to other
coverage will pop up online during enrollment if you elect to cover your
spouse/domestic partner under the DSM medical plan
Page 18
FOR INTERNAL USE ONLY
Wellness Program:
Healthyroads @ DSM
• Your health is important to DSM
• In our efforts to build a fit company, we offer a wellness program,
Healthyroads @ DSM, that helps you:
– Identify potential health issues related to daily nutrition,
fitness and lifestyle habits
– Establish wellness goals and track progress using interactive,
online tools
• Speak with a qualified health coach
• Program is voluntary and any information you provide is not
shared with DSM
• The program is also available to your spouse/domestic partner if
he/she is enrolled in the DSM medical plan
Page 19
FOR INTERNAL USE ONLY
Earning the Wellness Incentive
• Earn the wellness incentive between January 1 – August 31, 2015
– $300 for DSM employees enrolled in a DSM medical plan
– $100 for DSM employees not enrolled in a DSM medical plan
– $300 for spouses/domestic partners enrolled in a DSM medical plan
• To earn the incentive:
– Employees and spouses/domestic partners enrolled in a DSM medical
option must:
1) Complete Healthyroads Personal Health Assessment (PHA) on
www.healthyroads.com
2) Get a biometric screening
3) Earn 100 points by participating in specific wellness activities
Page 20
FOR INTERNAL USE ONLY
Medical and Prescription Drug
Decision Tools
•
•
•
Identify the qualities you
are looking for in a medical
plan
Get your health care-buying
profile
Compare DSM medical plan
options
Page 21
•
Compare prescription drug costs for the
PPO vs. the CDHP
•
Determine the amount to contribute to the
FSA or HSA
•
Visit myDSMbenefits.com to link to the
tools
FOR INTERNAL USE ONLY
Flexible Spending and Health Savings
Account Decision Tools
Page 22
•
Calculate the amount to
contribute to the FSA
and/or HSA
•
View your potential tax
savings
•
Learn more about eligible
expenses
•
Review the FAQs
•
Visit myDSMbenefits.com
to find links to these
websites
FOR INTERNAL USE ONLY
Dental Coverage
Two dental plan options – High Option PPO and Low Option PPO
High Option PPO
Low Option PPO
$50
$150
$50
$150
100% with no
deductible
100% with no
deductible
Basic Care
80% after deductible
80% after deductible
Major Care
60% after deductible
50% after deductible
$2,000
$1,500
50% after deductible
up to lifetime
maximum of $2,000
per child
(up to age 19)
Not covered
Annual Deductible
Individual
Family
Preventive and
Diagnostic Care
Annual maximum benefit
one person can receive for
non-orthodontia services
Orthodontia
Page 23
High Option PPO
If you enroll in
the High Option
PPO, your
election
generally applies
for two, full
calendar years.
FOR INTERNAL USE ONLY
Dental Contributions - Monthly
High Option PPO
Low Option PPO
Employee only
$19.77
$10.15
Employee + Spouse
$39.54
$20.30
Employee + Child(ren)
$39.54
$18.25
Employee + Family
$61.71
$28.40
Page 24
FOR INTERNAL USE ONLY
Vision Coverage
You can elect vision coverage through VSP
When you enroll in vision coverage, you can see any provider you
choose. However, you will get the best value from your VSP benefit
when you visit a network provider
Covered once every 12 months
In-Network Benefit
Eye exam*
100% after $10 copay
Eyeglasses
100% after $15 copay
(one copay covers frames and lenses)
Frames
$150 allowance plus 20% off amount over
your allowance toward frames of your
choice after $15 copay; extra $20 off
select featured frame brands
Contacts
(instead of lenses and frames)
$150 allowance for contact lens material;
up to $60 for contact lens exam
* Routine eye exams are not covered under the DSM medical plan.
To receive coverage, you must elect vision coverage.
Page 25
FOR INTERNAL USE ONLY
Flexible Spending Accounts (FSAs)
• Pay for eligible health care or
dependent care expenses on a
before-tax basis
• Re-enrollment is required each year
• Estimate carefully – must use
balance for eligible expenses by plan
deadline
Page 26
FOR INTERNAL USE ONLY
Health Care Flexible Spending Accounts
DSM offers you a health care FSA to match the medical plan you elect:
• Health Care FSA (High Option or Low Option PPO)
• Limited FSA (CDHP)
Health Care FSA
•
•
If you enroll in the High or
Low Option PPO or waive DSM
medical coverage (and do not
enroll in your spouse/domestic
partner’s HSA)
Limited FSA
•
If you enroll in the Consumer
Directed Health Plan
•
Contribute up to $2,500 to
Limited FSA for eligible
dental and vision expenses
Contribute up to $2,500 to
Health Care FSA for eligible
medical, prescription drug,
dental and vision expenses
Carryover feature allows you to carry over up to
$500 of your unused balance at the end of the year
Page 27
FOR INTERNAL USE ONLY
Dependent Care Flexible Spending Account
• Pays for eligible dependent care, such as day care,
babysitters, after-school programs and eldercare,
so that you can work
• Eligible care may include:
– Child care for your children who are under age 13,
as long as the care provider is not another child of
yours who is under age 19 or anyone else who you
can claim as a tax exemption on your federal
income tax return
– Care for dependents of any age who are not
physically or mentally able to care for themselves
and who spend at least eight hours a day in
your home
Page 28
Contribution
Limits
You can contribute
between $100 and
$5,000 – or $2,500
for married couples
filing separately –
to your Dependent
Care FSA. You can
only be reimbursed
up to your current
account balance
when your claim
is filed.
FOR INTERNAL USE ONLY
Basic Life and Basic AD&D Insurance
• Basic Life Insurance
– 2 times annual base pay, rounded up to the next highest $1,000
– $1,000,000 maximum benefit
• Basic AD&D Insurance
– 2 times annual base pay, rounded up to the next highest $1,000
– $1,000,000 maximum benefit
(Note: DSM Engineering Plastics Bargaining Unit employees
are not eligible for basic AD&D coverage.)
• Coverage amounts reduce at age 65 and 70
• Both paid by DSM - Insured through Prudential
• Enrollment is automatic
Page 29
FOR INTERNAL USE ONLY
Optional Life Insurance
• Offered through Prudential
• You may purchase coverage for yourself
• Available for your spouse/domestic partner and your children
• As a new hire, you and your dependents can enroll for coverage
up to specified amount (the “guaranteed issue amount”) without
providing Evidence of Insurability (EOI) – proof of your good
health
• If you wish to enroll for coverage greater than the guaranteed
issue amount, you must provide EOI
• If EOI is required, you must print the EOI form from the
enrollment website, complete and submit it to
Prudential
Page 30
FOR INTERNAL USE ONLY
Optional Life Insurance
• If you don’t elect coverage now, EOI will be required if you wish
to elect it in the future
• If you elect coverage now, EOI may be required if you wish to
increase it in the future, depending on the amount requested
• See your Benefits Enrollment Guide for more information about
EOI – refer to rules for new hires
• You (the employee) are the beneficiary for spouse/domestic
partner and child life insurance
Page 31
FOR INTERNAL USE ONLY
Optional Life Insurance
Optional Life Insurance
Benefit
Maximum Benefit
Guaranteed Issue
Amount
For you
1 to 6 times annual
base pay rounded up
to the next highest
$1,000
$600,000
Lesser of 3x annual
base pay or $300,000
For your spouse/domestic
partner
$10,000 increments
$100,000
$50,000
For your children
$5,000 increments
$25,000
Not applicable
EOI is required if you want to elect or increase spouse/domestic partner coverage in the future
Page 32
FOR INTERNAL USE ONLY
Optional AD&D Insurance
• You may purchase for yourself
• Available for spouse/domestic partner and eligible children,
only if you purchase it for yourself
• Evidence of Insurability is not required for AD&D insurance
• You (the employee) are the beneficiary for spouse/domestic
partner and dependent children AD&D insurance
Page 33
FOR INTERNAL USE ONLY
Optional AD&D Insurance
Optional AD&D Insurance
For you
For your family:
-Spouse/Domestic Partner Benefit
-Child Benefit
Page 34
Benefit
Increments of $25,000
Maximum Benefit
$1,000,000
50% of employee benefit if
no children are covered; 40%
with child coverage
$100,000
10% of employee benefit if
spouse/domestic partner is
covered; 15% if no
spouse/domestic partner
coverage
$25,000
FOR INTERNAL USE ONLY
Business Travel Accident Insurance - BTA
• Paid by DSM
• Coverage for when you travel on company business
• Does not include commuting to and from work
• Insured through Chubb
Business Travel Accident Insurance
Benefit
4x annual base pay
Minimum benefit
$100,000
Maximum benefit
$2,000,000
Seat belt benefit
10% of death benefit up to a $50,000 maximum
Page 35
FOR INTERNAL USE ONLY
Disability Coverage
Company-paid
Short-term Disability
(STD) Coverage*
• Provided at no cost to you
• If approved, DSM pays 100% of your salary for up to 26
weeks; if you have less than 1 year of service, the first 4
weeks are paid at 100% and the next 22 weeks are paid at
60%
• Eligibility begins 3 months from date of hire
Company-paid
Long-term Disability
(LTD) Core Coverage*
• If disability is approved, DSM pays benefits after 180 days of
disability
• Replaces 60% of monthly base pay, up to $10,000 per month
Buy-up Long-term
Disability (LTD)
Coverage*
• Additional coverage you can purchase
• Replaces additional base pay
• Total LTD benefit of 70% of monthly base pay, up to $15,000
per month
* DSM Engineering Plastics Bargaining Unit employees are eligible for Weekly Income Benefits instead of STD coverage, and
are not eligible for LTD coverage.
See your Enrollment Guide for details about pre-existing
condition limitations for long-term disability.
Page 36
FOR INTERNAL USE ONLY
Legal Assistance
 Provides legal services through
Hyatt Legal Plans for:
 Wills
 Real estate matters
 Document review and
preparation
 Family matters
 Court appearances
 Available to you, your spouse/
domestic partner and dependent children
Page 37
FOR INTERNAL USE ONLY
Home-Auto-Umbrella Insurance
 Available through MetLife
 Provides the opportunity to buy personal home, auto, and
umbrella insurance at discounted rates.
 Enroll by calling MetLife at 1-800-GET-MET8 or online, and pay
directly to MetLife.
Page 38
FOR INTERNAL USE ONLY
Employee Assistance Program
• DSM provides coverage to employees and immediate family
members – no enrollment required
• Completely confidential
• Provided by Magellan Behavioral Health Employee
Assistance Plan (EAP)
• Provides 24/7 access to confidential professional
counseling and support to balance:
– Work/life issues
– Stress
– Family concerns
• Covers five counseling visits with professional counselor
• Referrals provided if long-term treatment is needed
Page 39
FOR INTERNAL USE ONLY
DSM USA Defined Contribution Plan
Eligibility
You are eligible to contribute to the Plan immediately from your date of hire.
It’s Automatic*
•
•
•
Contributions are automatically deducted from your paycheck;
You are automatically enrolled for a 3% contribution of your base pay;
You may change your contribution at any time; if you save less than 10%, you’ll
be automatically enrolled in the automatic increase program.
*Note: if you wish to contribute a percentage to the Plan other than 3%, or if you
choose to decline participation entirely and opt out of the automatic enrollment
process, log on to Fidelity at www.401k.com or call Fidelity at 1-800-835-5095.
Matching
Contributions
DSM matches your contributions — 100% company match up to the first 3% that you
contribute — and 50% company match for up to the next 3% that you contribute.
Employer
Contribution
For non-bargained employees, DSM automatically makes a contribution to your plan
account equal to 5% of your annual base pay even if you do not participate in the
Plan; this contribution is credited to your account based on your paycheck
frequency.
Employee
Contribution
You have a choice of before-tax, traditional after tax, or Roth contributions; it’s
your choice.
Page 40
FOR INTERNAL USE ONLY
DSM USA Defined Contribution Plan
IRS Limits
•
•
•
You may contribute between 1% and 100% of your base pay to the Plan,
however, the IRS places limits on your contributions as follows:
2015 pre-tax and Roth combined contribution limit is $18,000
If you are age 50 or older you may also contribute $6,000 in “catch-up”
contributions. *Note: See below for other IRS limits
Vesting
•
•
•
Employee contributions and their earnings are 100% immediately vested;
Company match and their earnings are 100% immediately vested;
Employer 5% contributions and their earnings are vested according to the
schedule shown below:
Employer 5%
Contributions
Vesting
Years of Service
1
2
3
Vesting Percentage
0%
0%
100%
*Note: Other IRS limits include Annual Additions which cannot exceed the lesser
of: 100% of your pay or $53,000. Annual additions include pre-tax
contributions; after tax contributions, Roth contributions, Company
contributions and Company match.
Page 41
FOR INTERNAL USE ONLY
DSM USA Defined Contribution Plan
Investment
Options
Available to
You
•
The Plan offers a wide variety of investment options:
- Lifecycle Funds called the Fidelity Freedom Funds;
- A core group of funds to build your own portfolio including managed
income account; bonds; domestic equities and international global equities;
- Brokerage Link for those who want to actively manage their own investments.
Fidelity
Freedom
Funds
•
These funds provide an automatic investment mix that becomes continually
more conservative as time goes on. You pick the fund with the year that’s
closest to the year you plan to retire.
The Freedom Funds are also the default investment option if you do not
choose a fund for your account balance.
•
Building Your
Own Portfolio
•
•
Brokerage Link
Gives you expanded investment choices and the opportunity to more actively
manage your retirement contributions. Additional fees apply to a brokerage
account; call Fidelity for more information: 1-800-835-5095.
Questions?
Call Fidelity at 1-800-835-5095
Page 42
From conservative investments to more aggressive investments;
More than 15 different options including an index fund
FOR INTERNAL USE ONLY
DSM USA Defined Contribution Plan
Loans
•
•
•
In-Service
Withdrawals
•
•
When You
Leave DSM
•
•
•
•
Page 43
Generally, the Plan allows you to borrow up to 50% of your vested account
balance;
You may have 2 loans outstanding at a time (2 loans are permitted only if one of
the loans is for the purchase of your primary residence);
The cost to initiate a loan is $50. The fees will be deducted directly from your
plan account.
Withdrawals are generally permitted when you terminate your employment,
retire, reach age 59 1/2 , become permanently disabled, or have a severe
financial hardship as defined by the Plan.
Withdrawals are subject to income taxes and possibly an early withdrawal
penalty. Roth withdrawals are subject to age 59 ½ AND having made the first
contribution to the Plan at least 5 years prior to withdrawal (penalties for early
Roth withdrawals include earnings becoming taxable).
When you leave DSM, your account goes with you;
If your vested account balance is greater than $5,000 (excluding any rollover
account balance) you can leave your account in the Plan;
If your vested account balance is equal to or less than $1,000 it will
automatically be distributed to you.
If your vested account balance is greater than $1,000 but not more than $5,000,
you will be notified that your entire vested account balance will be transferred
to an Individual Retirement Account (Rollover IRA), unless you request either a
cash distribution or a rollover distribution of your choice.
FOR INTERNAL USE ONLY
What’s Next
• We encourage you to explore My DSM
Benefits now to prepare for
enrollment
• The site is your key resource for
benefits information as follows:
– Benefits Enrollment Guide
(includes Enrollment Checklist)
– FAQs
– Sites to enroll in health and
welfare benefits and access your
401(k) plan account
– Vendor contact list – once enrolled
• Locate in-network providers for
medical, prescription drugs,
dental and vision
• Access to tools to help you choose
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Be sure to check out all that
myDSMbenefits.com has to offer!
FOR INTERNAL USE ONLY
What’s Next
• Enroll within 30 days of your hire date (or initial
eligibility) by going to myDSMbenefits.com before
your enrollment deadline and clicking the link to
enroll as a new hire or if you have a life event in
2015
• Change or stop the automatic 401(k) plan deduction
• Designate beneficiaries for life and AD&D coverage
• Provide Evidence of Insurability (EOI) if required for
any optional life insurance or “Buy-up” LTD coverage
• Review your 2015 Benefits Summary online and save
a copy for your records
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Enrollment is easy!
When you go online to
enroll for the first time,
you will need to create a
User ID and password to
login to the enrollment
site.
FOR INTERNAL USE ONLY
What’s Next
• Look for ID cards from:
– BCBS for medical and Express Scripts for
prescription drugs if you enroll in a DSM medical
option
– WageWorks if you are enrolling in an FSA or HSA
– Delta Dental if you are enrolling in dental
• No ID card for vision
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FOR INTERNAL USE ONLY
What’s Next
• Set up HSA if enrolling in the CDHP for 2015
• Respond to requests for documentation you will
receive in the mail when enrolling dependents
• Check your paycheck to confirm it reflects your
benefit choices
• If you have questions or
need help enrolling, call the
DSM Benefits Center,
1-866-353-9740,
Monday through Friday,
9 a.m. to 7 p.m. Eastern Time
• Look for your enrollment package from Fidelity
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FOR INTERNAL USE ONLY
If You Don’t Enroll
• If you don’t enroll within 30 days of your hire date, you will be
enrolled in core benefits for yourself only – if you have dependents,
they will not be covered
Core Benefits
Medical – Consumer Directed
Health Plan for employee only
Core Long-term Disability
Basic Life Insurance –
2x annual base pay
Employee Assistance Program
Basic AD&D Insurance –
2x annual base pay
Healthyroads Wellness Program
Short-term Disability
Business Travel Accident
Note: DSM Engineering Plastics Bargaining Unit employees are not eligible for Basic AD&D Insurance and Long-term Disability.
• You will not be able to change your elections until the next annual
enrollment unless you have a life event or are eligible
for special enrollment rights
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FOR INTERNAL USE ONLY
Questions?
When should
you call?
- General benefits
questions
- Make your benefits
elections, via telephone
DSM Benefits Center
Representatives are available
Monday – Friday,
from 9 a.m. to 7 p.m. ET
at 1-866-353-9740
Page 49
- Employee information
- Payroll
- Policies and procedures
- Escalated benefit issues
HR Shared Services Center
Representatives are available
Monday – Friday,
from 8 a.m. to 5:30 p.m. ET
at 1-866-582-4777,
or email hrssc.us@dsm.com
FOR INTERNAL USE ONLY
In Closing
Thank you!
We hope you learned a lot about DSM benefits
For more information, please visit
myDSMbenefits.com
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