Overview of company 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 or a CDHP 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.

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.

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.

• One, but less than two*, year(s) of service equals one week of vacation
• Two*, 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

*Effective vacation year 2020. 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

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.

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

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: $75
• Years of continuous service over 30 years prior to January 1, 2009: $85
• All years of continuous service after January 1, 2009: $115

For ArcelorMittal USA employees covered by the Steelworkers Pension Trust (SPT), the company contributes $3.50 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 $115 per month, per year of service.

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. 

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

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.

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

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.

ArcelorMittal USA’s Transforming YOU wellness program provides incentives for completing annual wellness examinations, flu vaccination program, tobacco cessation reimbursement program and a Health Week each fall featuring a health walk. Wellness activities at each plant can include health screenings, blood drives, local and national health resources, demonstrations, classes, exercise events, giveaways and more. 

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.
• Short and long term disability – 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 period. 

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.

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.

• Less than one year of service and hired before July 1 equals one week of vacation in calendar year hired, three weeks in following year
• Less than one year of service and hired after July 1 equals three weeks of vacation in year following hire
• One, but less than 15, years of service equals three weeks of vacation
• 15, but less than 23, years of service equals four weeks of vacation
• 23+ years equals five weeks of vacation

NOTE: A week of vacation consists of five days.

The company also provides the following 10 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

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.

Employees are eligible to participate in the company’s 401k plan, in which the first five percent of 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.

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

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

ArcelorMittal USA’s Transforming YOU wellness program provides biometric screenings with incentives, flu vaccination program, tobacco cessation reimbursement program and a Health Week each fall featuring a health walk. Wellness activities at each location can include health screenings, blood drives, local and national health resources, demonstrations, classes, exercise events, giveaways and more.