PDF Centennial Bank

Centennial Bank

Topic: Payroll

Human Resources FAQ's

? When do I get paid? We are paid on a bi-weekly basis. Payday is every other Thursday. (See the 2017 Payroll Calendar for payroll dates and pay periods.) The payment is for wages earned during the preceding 2 calendar weeks, Sunday through Saturday.

? Will I receive a live check or a direct deposit? For added safety and immediate access to your wages, we encourage you to sign up for direct deposit. You can set up your direct deposit information through UltiPro. Instructions for how to do so are posted on CenNet. You may choose to receive a manual check; however, direct deposits are available immediately. Live checks have to be either mailed to you or sent interoffice.

? When will my 401k contributions be deducted from my paycheck? For new enrollees, 401k contributions will come out of the first payroll following your online enrollment. Therefore, if you enrolled on January 1, 2017, your first contributions will come out of the January 19, 2017 payroll.

? Which payrolls include my insurance deductions? Your first deductions will come out of the first payroll of the month once your insurance goes into effect. For example, if your insurance goes into effect March 1, 2017, your first insurance deductions will come out of the first payroll in March. Insurance deductions are taken out twice per month. Since we are paid on a bi-weekly basis, there are 2 months out of the year that have a 3rd payroll. Insurance deductions do not come out of the 3rd payroll of the month. We call these "free" payrolls.

? Are my insurance deductions pre-tax or post-tax? Most of your insurance deductions are pre-tax, providing you with tax savings. However, short-term disability and life insurance deductions are post-tax. By paying taxes on the premiums, you are not required to pay taxes on the insurance pay-outs.

? Which months do my insurance deductions cover? Do we pay a month in advance, a month behind, or within the same month? Your payroll deductions cover the month in which the deductions are made. For example, your January deductions provide you with coverage for the month of January, and so on.

Centennial Bank Human Resources Email: HBI-HR (HR@)

Centennial Bank

? When will I receive my review? New Hires will receive a performance review after the first 90 days of service. Annual performance reviews are given to salaried employees at the end of every calendar year and hourly employees on their anniversary. *Salary reviews will coincide with your annual performance review.

? Who should I contact if I have questions about my paycheck? If it is regarding your pay, contact your immediate supervisor. Questions regarding withholdings or deductions should be e-mailed to HBI-HR (HR@).

? Can I view my paystub online? Yes, instructions are in the Human Resources section of CenNet. If you cannot find the instructions, please e-mail HBI-HR (HR@).

Topic: Benefits

? When will I receive vacation time? Salaried employees begin accruing vacation on January 1 of each year. Hourly employees receive vacation on their first anniversary. Vacation balances will be viewable on your paystub following accrual.

? As an hourly employee, do I have access to any vacation time prior to my first anniversary? Hourly employees within their first year of employment will be allowed to use up to 3 days of vacation prior to receiving their lump sum on their anniversary. Their vacation balance will reflect a negative amount until they receive their actual on their first anniversary. The lump sum of their first accrual will be reduced by the negative amount.

? How much vacation time will I receive? Hourly (Non-Exempt) Employees:

Full-Time Hourly (Non-Exempt) Employees: 2 Weeks (80 hours) beginning on your 1st Anniversary 3 Weeks (120 hours) beginning on your 5th Anniversary 4 Weeks (160 hours) beginning on your 15th Anniversary

Part-Time and Part-Time 30 Hourly (Non-Exempt) Employees: Part Time: 1 week (25 Hours) beginning on your 1st Anniversary

Part-Time 30: 1 week (30 hours) beginning on your 1st Anniversary

Centennial Bank Human Resources Email: HBI-HR (HR@)

Centennial Bank

Salaried (Exempt) Employees: Salaried employees accrue hours each pay period based on the vacation schedule below:

Full-Time Salary (Exempt) Employees:

Seniority

Hire date through first January 1

Not Applicable

January 1 of the years that contain anniversaries Accrue 3.08 hours per pay period up to a maximum

1 ? 4

of 80 hours

January 1 of the years that contain anniversaries 5 ? 14

January 1 of the years that contain anniversaries 15+

Vacation hours become available after 90 days of employment.

Accrue 4.62 hours per pay period up to a maximum of 120 hours

Accrue 6.15 hours per pay period up to a maximum of 160 hours

? Will my vacation hours carryover to the following year if I do not use them all? Vacation balances do not carry over. Any unused hours will be forfeited.

? When will I receive sick time? Please see the tables below based on full-time vs. part-time and years of seniority.

Full-Time Employees:

Seniority

Hire date

January 1 of the years that contain anniversaries 1 - 4

January 1 of the years that contain anniversaries 5 ? 14

January 1 of the years that contain anniversaries 15+

Prorated amount of sick hours based on the number of pay periods between the hire date and January 1.

(3.08 x Number of pay periods=Prorated amount) Sick hours become available after 90 days of employment. Receives a lump sum of 80 hours

Receives a lump sum of 120 hours

Receives a lump sum of 160 hours

Centennial Bank Human Resources Email: HBI-HR (HR@)

Centennial Bank

Part-Time and Part-Time 30 Hourly (Non-Exempt) Employees: Not eligible to accrue sick hours.

Pursuant to New York State law, New York part-time employees shall accrue a minimum of 1 hour of sick leave for every 30 hours worked.

? Am I eligible to receive insurance benefits? Employees who are classified as full-time (per the Patient Protection Affordable Care Act) are eligible to enroll after all waiting periods have been met. This includes full-time and part-time 30 classified employees of Centennial Bank and all subsidiaries.

? When will my insurance go into effect? Any elected coverage will be effective the first day of the month following 30 calendar days of service. So, if your start date is January 5th, your insurance will be effective March 1st. The only exception to this policy is for the company paid life insurance, which goes into effect the first of the month following 90 calendar days of service.

? Can I cancel my insurance at any time? Your insurance may be changed if you experience a "qualifying event". Examples of a qualifying event are birth, adoption, marriage, death, divorce, change in work status, or loss of coverage.

? When can I make changes to my insurance elections? You can make changes within 30 calendar days of a "qualifying event" or during the company designated open enrollment period.

? How do I cancel or make changes to my insurance? Please e-mail HBI-HR (HR@) and provide the necessary documentation within 30 calendar days from the date of your qualifying event. The appropriate Life Event election instructions will be sent to you. If necessary, HR will advise you on the documentation required for your qualifying event.

? Does the company match my 401k contributions? The company matches 50% of your contribution up to a maximum of 3% of your gross wages. For example, if you contribute 6% of your gross wages, the company will match 3%. If you contribute more than 6%, the company will still only contribute 3% since that is the maximum.

? When can I enroll in the company's 401k plan? When can I make changes to my elections?

Centennial Bank Human Resources Email: HBI-HR (HR@)

Centennial Bank

Employees can enroll at any time. The only requirement is the employee must be at least 21 years of age. Contributions can also be cancelled at any time. Any other changes such as an increase or decrease to your contribution can be made each quarter.

? When will my 401k be fully vested? Your 401k will be fully vested after 5 years of service.

? What does "vested" mean? When the company makes contributions to your 401k plan, you do not have full ownership of those contributions. Your ownership increases with your years of service. Upon your 5th year, you have complete ownership of the company's contributions.

? Does the company offer Roth 401k plans as well as traditional? Yes, the company offers both and you may choose one or a combination of the two. For example, you can contribute 3% of your gross wages to a traditional (pre-tax) 401k plan and another 3% of your gross wages to a Roth (post-tax) plan.

? What is the difference between a Roth 401k plan and a traditional 401k plan? A Roth plan allows you to pay taxes on the wages that you contribute each pay period and not pay taxes on the earnings when you withdraw them via a qualified withdrawal.

A traditional 401k plan provides you with tax savings now and you would pay taxes on the earnings when they are withdrawn. It's really a matter of getting your tax benefit now or later. The weight of the tax benefit depends on how much you earn now compared to how much you expect to earn in the future.

? What is the definition of a health insurance deductible? The deductible is the amount you owe for covered health care services before your health insurance or plan begins to pay. However, deductibles don't apply to all services. Sometimes routine doctor visits and preventive care are covered by a co-pay before your deductible is met. Your deductible must be met again at the beginning of each calendar/plan year.

? How is my health deductible "met"? Generally, your deductible is a defined amount that must be paid each calendar, or plan year, before your insurance provider begins to cover any medical costs. Many health plans provide some benefits before you meet your deductible. Your out-of-pocket co-pays do not count towards your deductible. This includes your prescription co-pays.

Centennial Bank Human Resources Email: HBI-HR (HR@)

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