Employee Benefits

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Completing Your Total Compensation

Federated’s benefits programs are designed to enhance our employees’ salaries. In fact, our comprehensive benefits package is valued at more than one-third of an employee’s salary.

People—recruiting them, training them, and retaining them—are a paramount principle at Federated. Our benefits program supports this principle by offering income protection today for our employees and their families. Plus, there’s long-term asset protection for tomorrow. The program also includes a variety of work-life benefits to enhance employees’ lives.

Income protection benefits for today

• Medical – An employer-subsidized, comprehensive medical plan that includes prescription drug coverage
• Dental – Coverage for preventive care as well as for basic and major dental services
• Health care reimbursement – Allows employees to use pre-tax dollars for health care expenses
• Sick leave – Company-paid sick leave accrued on a monthly basis
• Short-term disability – Replacement income for part of an employee’s earnings lost due to illness or injury, available at no cost to the employee

Financial security benefits for tomorrow

• 401(k) – Employees invest pre-tax earnings in a wide variety of mutual funds and receive a Company match on a portion of their contributions.
• Pension – Funded entirely by the Company, the pension plan provides monthly payments upon retirement. Long-term employees may earn up to 40 percent of their pre-retirement earnings in post-retirement pension payments.
• Long-term disability – Basic coverage is available at no cost to employees and provides replacement income for a portion of earnings lost due to an illness or injury. Employees may elect additional coverage.
• Life insurance – Employees receive primary coverage at no cost and may elect additional group, dependent, and individual life policies to meet their individual needs for income protection.

Work-life enhancement benefits

• Vacation – Company-paid vacation days that accrue on a monthly basis and increase with years of service
• Other Time Off – Paid holidays and floating personal holidays; variable work hours
• Health & Wellness – On-site fitness center (Owatonna location), employee assistance program, wellness newsletter, health promotion staff and resources, and tools to promote safety and ergonomics
• Family – Dependent care flexible spending accounts, emergency childcare (Owatonna location), new baby gifts, adoption assistance, referral resources, parent information packets
• Recreation – Athletic team sponsorship, Federated Employees Club activities, Quarter Century Club
• Financial – Financial planning seminars, Federated Employees Credit Union
• Tuition Assistance – Financial support for employees seeking their initial undergraduate degree
• Volunteerism – Company support and encouragement for employee volunteerism in various charitable and civic organizations and worthwhile causes