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Ricos Employee Benefits

by | Jun 22, 2017

A Guide To Your Employee Benefits

Each employee is an integral part of the Liberto Family of Companies.  We offer health, dental, life and retirement programs and much more so that each employee will not only take better care of themselves, but also provide a healthy lifestyle for their family members. New hires are eligible first of month, following 60 days of continuous full time employmant.

We offer a Flexible Benefit Cafeteria Plan that gives you the flexibility of picking different benefits that you might need or want for yourself and family.  Most of the benefits on the Cafeteria Plan are tax deferred.  This means that you do not pay social security or Income tax on these benefits.  This is automatically figured for you on your paycheck.

A brief outline of our benefit program follows”

Health Insurance:

High Deductible Health Plan-This plan has a deductible of $5,000 for individuals and $10,000 for families per year. Preventive care is covered at no cost. Co-pays accumulate toward the deductible. With the use of an in network provider, the company will reimburse your deductible up to $3,700 for individuals and $7,400 for families.

Buy-up Plan-This plan has a deductible of $2,000. Co-pays do not accumulate towards deductible. The company will reimburse each eligible employee and any covered dependent(s) enrolled in the Buy-Up Plan a maximum of $1,350 per individual or up to $2,700 for families.

Dental Insurance:

A fully insured dental plan with 100%preventive services, basic and major services will be covered at 80% and 50% respectively, after a $50 per person calendar year deductible. There is a calendar year maximum benefit of $1,500 per year.

Life Insurance:

Liberto pays 100% of the cost of 1x annual salary of AD&D coverage upon eligibility. The Cafeteria Plan offers optional term insurance for you, spouse and children.  There are varying amounts up to $500,000 available to you and this plan is age rated.


Short Term Disability: The premium amount is calculated according to salary and Liberto pays 100% of this premium.  Benefits are paid at 60% of your salary the 1st day accident and 8th day sickness.  A doctor must declare you disabled in order to collect benefits.

Long Term Disability: This is designed to pay after the short-term disability benefit has expired.  The requirements are the same as above and pays 60% of your salary. The company pays 100% of this premium.

Flexible Spending Account: This plan is designed to allow you to tax defer monies for medical expenses i.e. coinsurance, dental expenses, hearing aids, preexisting conditions, special tests etc.

Dependent Care Reimbursement – This can be deducted pre-tax each month. The amount of the pre-tax deduction is reimbursed to you each month, provided that you first submit dependent care bills equal in amount to your payroll deduction.

Other Cafeteria Plan benefits available: Personal Accident Indemnity, Hospital Protection, Personal Cancer Indemnity available through a third party.

Other Benefits

Paid Time Off (PTO)

PTO:15 to 25 days based on length of service.

Holidays: 7 company paid holidays.

Christmas Savings

Each November the Company sets up a Christmas Savings Program that allows employees to save each year with a generous 8% match of company funds. This is a great way for employees to save for emergencies and of course Christmas gifts.



In the spirit of Thanksgiving a turkey or a gift card is given to all employees.



Eligibility and Entry
You are eligible to join the plan if you are at least age 18 and have completed 6 months of service with the company. Once you meet the eligibility requirements, you may enter the plan on the next quarterly date.

Employee Salary Deferral Contributions
You may choose to contribute up to 100% of your gross pay each pay period up to the IRS maximum. Your taxable income is reduced by the amount you contribute through salary deferral. This lets you reduce your current income taxes.


Employer Contributions: The Company will match employees’ contributions based on the following schedule. 100% match on the first 3% of employee deferrals plus 50% match on the next 2% of employee deferrals.




*Please note that the full list of benefits available to new employees varies from location to location due to differences in local laws, regulations, and customs – and may change at any time.

This summary provides an overview of your benefit options as an employee of Ricos Products (or any of its subsidiaries). It is not intended to be a complete summary of benefits. Please refer to the actual plan documents for the terms and conditions that govern these benefits. Ricos Products reserves the right to amend, change or terminate these benefits for any reason at any time.

Ricos Products is an equal opportunity employer, dedicated to workforce diversity. All qualified applicants will receive consideration for employment without regard to their protected veteran status and will not be discriminated against on the basis of disability or long term unemployment circumstances. If you are unable to submit an application because of incompatible assistive technology or a disability, please contact us at We will make every effort to respond to your request for disability assistance as soon as possible.

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