Benefits

TMA offers a benefit plan that is substantial in its worth and exceptional in its flexibility. It is designed to allow employees to tailor benefits to meet their individual needs.

Individual Benefits Account (IBA)

The traditional benefit plan offered by employers consists of defined vacation and sick maximums per year and an across- the-board medical, dental and retirement benefit. This is not what TMA has chosen to provide. Instead a flexible plan was designed that supports both required and optional benefits that employees may elect or decline based on individual needs. This is accomplished by TMA providing employees with an allocation of funds and making deductions based on benefits selected. In addition, some basic benefits (e.g. life and disability insurance) are provided by TMA outside of the IBA.

The funds allocated are provided through an Individual Benefit Account or IBA into which TMA deposits an amount equaling 48% of gross monthly regular and overtime pay. From this account deductions are made for all time off, elected medical and dental premiums, and required retirement plan (i.e. Profit Sharing) contributions. This account may also be used as a source for optional 401K contributions, specified out-of-pocket medical costs, and child care expense reimbursement. An account balance equal to 160 hours of pay may be carried over from year to year. Excess is paid as a taxable salary "conversion".