ABOUT US
-- Career Opportunities
-- Benefits
Regional Acceptance Corporation provides employees with a wide range of benefits
which are competitive and affordable.
Benefits
Regional Acceptance Corporation (RAC) offers a competitive and comprehensive
benefits package. Any Regional Acceptance employee who is scheduled to work at
least 20 hours per week is eligible for benefits.
The 401(k) Savings Plan
We are committed to helping employees obtain financial security. That commitment
is evident in RAC's outstanding 401(k) Savings Plan, which is desighed to help employees
meet their retirement goals.
The RAC Pension Plan
The RAC Pension Plan was designed to help employees accumulate retirement
income for a more comfortable retirement. The Pension Plan benefit is
calculated based on the number of years an employee works for the company
and his/her average compensation for the highest five consecutive years
out of the last ten years worked for the company.
Health Care
Medical coverage is effective on the date an employee begins work.
There are no waiting periods for coverage. The Medical Program offers two
PPO options and one EPO option. These plans are managed by BlueCross BlueShield
and provide nationwide medical coverage. All of these plans offer prescription
drug benefits. Details vary per plan.
Dental Care
RAC offers optional dental coverage that provides for routine care, basic
and major services, and children's orthodontia.
Vision Care
Vision care provided by providers in the Vision Service Plan (VSP) network
typically covers 100% of charges for annual eye exams and the cost of
eyeglasses or contact lenses with no co-payments.
Term Life Insurance
RAC employees are provided with life insurance equal to two times their salary.
Employees may choose additional coverage from one to six times their salary in
Supplemental Life Insurance.
Dependent Life Coverage
RAC also offers dependent life insurance for family members.
This policy pays a $10,000 benefit in the event of a spouse's death and $7,500
in the event of a child's death.
Disability Coverage
Disability insurance is provided to replace 50% of an employee's salary should
he/she become disabled. This coverage may be increased to 60% for a slightly
higher premium. Both plans pay benefits when days available through the RAC
Short-Term Absence policy have been exhausted.
Accidental Death and Dismemberment
This policy pays a benefit to the employee or the designated beneficiary in the
event of an accident resulting in the death or dismemberment of the covered person.
Flexible Spending Accounts
The IRS allows money to put aside in flexible spending accounts on a
pre-tax basis for out-of-pocket medical and dependent care expenses.
This benefit can result in significant savings. Contributions of up to
$5,000 per year may be made to both medical and dependent care spending accounts, and contributions of up to $230 per month maybe made to the Transportation Spending Account (TSA).
LifeForce
LifeForce, RAC's innovative wellness program, offers an opportunity to develop
and manage a healthy lifestyle as well as a way to decrease medical costs.
Those who participate in and reach Phase 2 of the program are rewarded with
reductions in medical, term life, and disability premiums.
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