RETIREMENT SERVICES
401(k) Retirement
The 401(k) Retirement Plan SkyWest offers a very competitive
401(k) plan to both full-time and part-time employees. The
plan includes PRE TAX payroll deductions with an employer
dollar for dollar match based on years of service. The plan,
including any company contributions, is immediately 100% vested.
Employees can choose to invest in more than 20 different funds
and multiple Target Date Funds.
Performance Rewards
Implemented in 2005, Performance Rewards is an innovative program that allows employees to share in the Financial
and Operational success of the Company.
423 Employee Stock Purchase Plan
The 423 Employee Stock Purchase Plan provides SkyWest employees with the opportunity to buy SkyWest, Inc. common
stock through payroll deductions. SkyWest pays the fees on the purchase, and employees receive a 5% discount when the stock is purchased
every six months. Full and part-time employees are eligible to participate in the plan.
529 Educational Savings Plan
SkyWest offers a program to assist employees in saving for
educational costs for themselves, their children, or grandchildren.
This flexible 529-college savings program allows employees
to save through payroll deductions on an after-tax basis
for college expenses. Full and part-time employees are eligible to paricipate in the plan.
INCOME PROTECTION
Disability
The disability program helps to protect full-time employees in unforeseeable
situations where they may be unable to work due to illness
or injury. SkyWest offers a short-term disability (STD)
program that provides the employee with benefits one month
after the employee has been out on a disability. Employees
on STD receive 60% of their pay, up to $1,500 weekly with
the benefit period lasting a maximum of 22 weeks. The employee's
job and income determine the cost of this benefit. SkyWest
provides a long-term disability program for an employee
who is unable to work for more than six months. This benefit
provides the employee with 60% of their pay, up to a maximum
of $5,000 per month lasting up to age 65. Long-term disability
premiums are paid entirely by SkyWest.
Basic Life Insurance
SkyWest provides all full-time eligible employees with a base amount
of $20,000 in basic life insurance. In addition, coverage is provided for your spouse in the amount of $5,000 and a dependent child in
the amount of $2,500. In the event of your accidental death, your beneficiary will receive an additional $20,000 benefit. This benefit
is at NO COST to the employee.
Additional Life Insurance
Employees also have the option of purchasing additional life insurance for
themselves and their family members. Employees may elect coverage inincrements of $20,000 up to a maximum
of $500,000. This supplemental group term life insurance also offers the following options: Portability or Conversion option,
Living Benefits option, and Waiver of Premium.
Accidental Death & Dismemberment Insurance
Voluntary group accident insurance (AD&D) is available to all full-time SkyWest employees. This benefit protects employees and their family members against any
covered accident in the course of business or pleasure. The AD&D Plan provides worldwide protection. You may elect employee only coverage,
employee and dependent child(ren) coverage, and family coverage in increments of $25,000 up to a maximum of $500,000.
Legal and Financial Planning Services
Full-time employees at SkyWest have the opportunity to participate in a comprehensive professional advisory plan that is like roadside assistance for your
legal and financial needs. With this benefit, SkyWest employees receive legal services, identity theft services, financial planning and tax advice services.
The benefit also provides employees with unlimited toll-free access to telephone attorneys in any state as well on-line legal and financial
services.
