We make sure that our employees enjoy a competitive pay as well as a range of other motivational benefits

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Overview of company benefits

Represented employees

The Basic Labor Agreement (BLA), a contract between the United Steelworkers (USW) and USW-represented ArcelorMittal facilities, regulates wages, hours, and terms and conditions for employment. The benefits below are part of the most current agreement that took effect in September 2012 and expired on Sept. 1, 2015. ArcelorMIttal and the USW reached a tentative three-year agreement on April 27, 2016, which is subject to ratification by the workforce. 

Healthcare benefits

ArcelorMittal USA provides eligible employees and their eligible dependents with a comprehensive package of healthcare coverage, including:

  • Hospital/surgical/medical – Employees and dependents are eligible to participate in a comprehensive PPO medical plan.
  • Prescription drug – The prescription drug plan, administered by CVS Caremark, provides coverage for prescription drugs purchased at either retail stores or by mail order.
  • Dental – The dental plan offered to employees is very comprehensive, including preventative, restorative and orthodontic services.
  • Vision – The vision benefit plan provides benefits for eye exams, frames, lenses and contacts.
  • Life insurance – The company provides $50,000 of basic life insurance and $50,000 of accidental death and dismemberment (AD&D) insurance. Additionally, employees are able to purchase optional term life insurance for themselves and eligible family members at attractive group rates. Optional AD&D is also available. NOTE: A small group (less than three percent) of represented non-exempt salaried employees have slightly different life and disability coverage
Sickness and accident benefits

If an employee becomes totally disabled, the company provides disability benefits equal to 70 percent of pay for a period based upon service offset by certain workers’ compensation, railroad retirement benefits and Social Security payments.

Flexible spending account

The flexible spending account, or FSA, helps save money on taxes, while making it easier for employees to budget for expected health care and dependent/elder day care expenses. With FSA, the employee pays for many health care and dependent/elder day care fixed costs with dollars that are not taxed, thereby reducing taxable income.

Vacation and holidays
  • One, but less than three, year(s) of service equals one week of vacation
  • Three, but less than eight, years of service equals two weeks of vacation
  • Eight, but less than 15, years of service equals three weeks of vacation
  • Fifteen, but less than 24, years of service equals four weeks of vacation
  • Twenty four or more years of service equals five weeks of vacation

NOTE: A week of vacation consists of seven consecutive days.

The company also provides the following paid holidays:

New Year’s Day
Martin Luther King Jr. Day
Good Friday
Memorial Day
Independence Day
Labor Day
Thanksgiving
Day after Thanksgiving
Christmas Eve
Christmas Day

Bonus opportunities

Employees participate in two bonus plans offered by the company – profit sharing and production incentive. Through profit sharing, employees benefit from a profit sharing pool that consists of 7.5 percent of the company’s quarterly profits as defined by EBIT, or earnings before interest and taxes. Through production incentive, employees have an earnings opportunity of 20 percent of base wage for normal production levels with the opportunity to earn more.

401k plan

Employees are eligible to participate in the company’s 401k plan.

Pensions

For ArcelorMittal USA employees who are covered under the ArcelorMittal USA defined benefit pension plan, the minimum pension formula multipliers are:

  • Up to 30 years of continuous service prior to January 1, 2009: $65
  • Years of continuous service over 30 years prior to January 1, 2009: $85
  • All years of continuous service after January 1, 2009: $100

For ArcelorMittal USA employees covered by the Steelworkers Pension Trust (SPT), the company contributes $2.65 per hour into a multi-employer pension fund administered by a Board of Trustees, consisting of an equal number of employer and union representatives. At current SPT calculation rates that would provide approximately $100 per month, per year of service.

Supplemental Unemployment Benefits (SUB)

Employees with two years of continuous service who are laid off are eligible for a weekly supplemental unemployment benefit equal to 40 times their hourly base wage multiplied by a percentage based on years of service and length of layoff. 

Severance allowance

Employees who have accumulated at least three years of continuous service are eligible for severance allowance based on one of two payment options:

Option #1
Employee has been on involuntary layoff for six consecutive months, or in any 12 month period is offered less than 520 hours of straight time work:

• Receives a single lump sum payment equal to one week of pay at the employee’s vacation rate of pay for each year of continuous service

Option #2
Employee has been on involuntary layoff due to a permanent closure:

  • Receives one week of pay at the employee’s vacation rate of pay for each year of continuous service (up to 15 years) or portion thereof plus two weeks of pay at the employee’s vacation rate of pay for
    each year of service over 15 years of continuous service or portion thereof
  • Total above may not exceed $75,000
Interplant Job Opportunities (IJOP)

An employee with more than two years of continuous service, who is continuously on layoff for at least 60 days and not expected to be recalled within 60 days, shall be given priority over new hires and probationary employees for permanent job vacancies at other plants.

Employee discount programs

ArcelorMittal USA employees are provided with discounts by a number of companies including:

Daimler Chrysler
Dell Computers
Ford
General Motors
General Electric
Nissan
Verizon Wireless
Whirlpool

Institute for Career Development

The company invests $0.15 for each hour worked by represented employees into the USW/ArcelorMittal USA Institute for Career Development, whose purpose is to provide resources and support services for the education, training and personal development of the employees of the company including upgrading their basic skills and education levels.

Employee wellness

ArcelorMittal USA’s Transforming YOU wellness program provides biometric screenings with incentives, a wellness newsletter, flu vaccination program, tobacco cessation reimbursement program and a Health Week each fall featuring a global walk/run and wellness activities at each plant.

Salaried employees

A healthy and productive workforce is the company’s most important and valuable asset. ArcelorMittal offers its salaried employees competitive benefits that include healthcare, life and disability insurance, 401(k) savings plans, wellness, vacations and employee discounts. ArcelorMittal also matches employee donations to their favorite nonprofit organizations, dollar for dollar, up to $1,500 per year.

Healthcare benefits

ArcelorMittal USA provides eligible employees and their eligible dependents with a comprehensive package of healthcare coverage (no vision), including:

  • Hospital/surgical/medical – Employees and dependents are eligible to participate in a comprehensive Consumer Driven Health Plan (CDHP) and optional Health Savings Account (HSA).
  • Prescription drug – The prescription drug plan, administered by CVS Caremark, provides coverage for prescription drugs purchased at either retail stores or by mail order.
  • Dental – The dental plan offered to employees is very comprehensive, including preventative, restorative and orthodontic services.
  • Life Insurance – The company provides 1x base salary for basic life insurance and accidental death and dismemberment (AD&D) insurance. Additionally, employees are able to purchase optional term life insurance for themselves and eligible family members at attractive group rates. Optional AD&D is also available.
Sickness and accident benefits

If an employee becomes totally disabled, the company provides disability benefits equal to 100 percent of pay for a period based upon service, dropping to 60 percent of pay, or 70 percent with offsets, for the remainder of the disability period.

Vacation and holidays
  • Less than one year of service and hired before July 1 equals one week of vacation in calendar year hired, two weeks in following year
  • Less than one year of service and hired after July 1 equals two weeks of vacation in year following hire
  • One, but less than five, years of service, equals two weeks of vacation
  • Five, but less than 10, years of service, equals three weeks of vacation
  • Ten or more years of service equals four weeks of vacation

NOTE: A week of vacation consists of five days.

The company also provides the following paid holidays:

New Year’s Day
Martin Luther King Jr. Day
Good Friday
Memorial Day
Independence Day
Labor Day
Thanksgiving
Day after Thanksgiving
Christmas Eve
Christmas Day

Bonus opportunities

Salaried employees participate in a competitive bonus program and have multiple opportunities to earn quarterly bonuses when financial and operational performance targets are met. Targets are set annually and align with company priorities, such as operating profits, lost time injury rates and cost improvement measures. Payouts are calculated as a percentage of base salary earnings and vary depending on the sequence level of the position held and operating segment.

401k plan

Employees are eligible to participate in the company’s 401k plan, in which the first five percent contributions are company matched. ArcelorMittal will match two dollars for each dollar of the first one percent of contributions and one dollar for each dollar of the remaining four percent of contributions for salaried employees who are not currently accruing a benefit under a U.S. defined-benefit pension plan sponsored by ArcelorMittal or an affiliate. For salaried employees who are currently accruing a benefit under a U.S. defined-benefit plan sponsored by ArcelorMittal or an affiliate, the company will match one dollar for each dollar of the first five percent of contributions, for a total five percent employer match. Employees may contribute up to 50 percent of their eligible pay on a pre-tax, after-tax, or Roth after-tax basis in a range of investment options in addition to a brokerage account.

Employee discount programs

ArcelorMittal USA employees are provided with discounts by a number of companies including:

Daimler Chrysler
Dell Computers
Ford
General Motors
General Electric
Nissan
Verizon Wireless
Whirlpool

Tuition reimbursement

Company tuition reimbursement is available for approved graduate and undergraduate job-related programs.

Employee wellness

ArcelorMittal USA’s Transforming YOU wellness program provides biometric screenings with incentives, a wellness newsletter, flu vaccination program, tobacco cessation reimbursement program and a Health Week each fall featuring a global walk/run and wellness activities at each plant.