EMC Insurance Companies
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Financial Security

401(k) Plan
EMC matches up to 100% of savings contributions, up to 4%, to the 401(k) plan. Team members are eligible to defer income the first day of the month following employment and may roll funds from a prior qualified plan when hired. Team members are immediately vested in the company match.

Pension Plan
EMC pays the full cost of a cash balance pension plan. Team members are eligible after one year of continuous service or age 21, whichever is later. Team members are 100% vested after three years of service or at age 55 with one year of service.

Contingent Salary Plan
The Contingent Salary Plan (CSP) is bonus plan offered to team members based on the profitability of the company. The CSP can potentially increase a team member’s total annual compensation from EMC.

Life Insurance
EMC pays 100% of the group term life insurance premium for team members. The benefit is two times his/her annual salary if he/she is full-time and $15,000 if part-time regular. Team members are eligible the first day of the month following or coinciding with employment.

Flexible Spending Account
This benefit lets team members set aside pretax money for eligible medical and dependent care expenses such as deductibles, copays and other services not covered by the health plan. Team members do not pay Federal, State or FICA taxes on the money that is set aside. Team members are eligible the first day of the month following or coinciding with employment.

Optional Insurance Plans
Team members have the option of enrolling in several additional insurance plans: accidental death and dismemberment and supplemental term and whole life. Premium costs are paid by the team member.

Stock Purchase Plan
Team members can purchase shares of common stock of EMC Insurance Group Inc. at a discount. The stock is listed on the NASDAQ Stock Exchange as EMCI. The purchase price for team members is 85% of the fair market value of the EMC Insurance Group Inc. common stock. To be eligible, team members must be employed at least one month prior to the beginning of each quarterly election period.