Thermo Fisher provides a Short-Term Disability (STD) plan at no cost to you to ensure financial protection for you and your family if you are unable to work due to a non-work related injury or illness. Alight administers our STD plan and Sun Life Financial administers our Long-Term Disability (LTD) plan.
Short-Term Disability (STD)
The STD plan follows our Salary Continuance Program. You can receive benefits for up to 26 weeks with salary replacement based on years of service, as shown below.
| YEARS OF SERVICE |
WEEKS AT 100% OF SALARY | WEEKS AT 70% OF SALARY |
|---|---|---|
|
Less than 2 |
0 |
26 |
|
2-4 |
4 |
22 |
|
5-9 |
7 |
19 |
|
10-14 |
10 |
16 |
|
15-19 |
12 |
14 |
|
20-24 |
14 |
12 |
|
25 or more |
17 |
9 |
Long-Term Disability (LTD)
If you are totally disabled (as defined by the plan) for more than 26 weeks, LTD provides additional benefits. Coverage is non-taxable and the benefit amount is based on salary and level. If you are under age 65, you will automatically be covered by employee-paid LTD.
Please note: Fixed-term benefits eligible colleagues are not eligible for Long-Term Disability.
The Thermo Fisher disability plan provides you:
- 65% of your first $3,000 of monthly earnings,
- 50% of the next $4,000 of monthly earnings,
- and 40% of the remainder
There is a Non-Evidence maximum of $12,000 per month in coverage and an overall maximum of $15,000. To receive the maximum coverage, an Evidence of Insurability application is required.
Note: Coverage ends when a member reaches age 65 or such earlier date as the member no longer meets applicable eligibility requirements.
