At TWD, we recognize that our employees are a vital resource. Their efforts and commitment are central to TWD’s long-term record of increasing sales, operating profit, and continuously expanding areas of service.
The resulting strength and stability of our 20-year-old company enable us to offer a competitive employee benefits package that provides for their immediate and long-term welfare. We conduct an annual review of our benefits to ensure that our benefit package provides flexible, meaningful, and cost-effective options for our employees and their families.
TWD offers comprehensive medical, dental, and vision plans to our full-time employees including a High Deductible/Health Savings Account (HSA) option. The HSA is an excellent way to save money to pay post-retirement health care costs that are not covered by Medicare or other plans.
TWD provides life insurance, Accidental Death and Dismemberment (AD&D) insurance, and Short- and Long-Term Disability Insurance at no charge to our employees, and offers health care and dependent care Flexible Spending Accounts (FSA), as well as AFLAC Income Replacement insurance.
TWD offers a qualified 401(k) plan for all employees. The 401(k) provides a tax-advantaged method for employees to accumulate funds for retirement. Employees are eligible for participation in the plan from their first day of service. Currently, TWD makes a matching contribution of 100 percent of the employee’s salary deferral up to four percent. Full vesting is achieved in just two years. The TWD plan features auto-enrollment and an auto-deferral increase to help employees participate in the 401(k) and save more as their salary increases over time.
TWD Employee Stock Ownership Plan (ESOP)
TWD offers a qualified ESOP for all eligible employees. The purpose of the plan is to encourage employees to think like business owners. Their contributions and hard work relate directly to the value and success of our company – and, therefore, benefit them directly: As the value of the company goes up, so does the value of their stock. Employer contributions to the plan accumulate to provide a retirement benefit.
For the past eight years, TWD proudly has rewarded its employees with a profit-sharing bonus at the end of the year. Profit sharing is based both on the performance of the company and the performance of the employee. Profit sharing is a near-term, tangible cash benefit to the TWD employee. While there is no guarantee that the company will be able to pay profit-sharing bonuses in the future, our eight-consecutive-year record is an indicator of the high priority the company places on this benefit.
In addition to the benefits already described, TWD offers: