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National Student Clearinghouse Benefit Summary

The National Student Clearinghouse provides a comprehensive benefits program designed to help meet the needs of you and your family, both now and in the future. The benefits that the Clearinghouse offers are competitive and flexible, recognizing the diverse needs of our employees. (Not all terms of the various programs are detailed below.)

Medical, Dental, and Vision Insurance

All full- and part-time employees, their spouses, domestic partners, and dependents under 26 years of age are eligible to join the United Healthcare Choice or Choice Plus Medical, Human Dental, and Group Vision Service plans. Coverage is effective the first day of employment.

401K

Our 401k savings plan provides you with the opportunity and resources to ensure a secure financial future for yourself and your family. All regular 401k investment contributions are taken from your paychecks before taxes are applied. In addition to the regular 401k, you can participate in the Roth 401k, where deductions are taken on an after tax basis. The money you contribute to the plan is 100% vested (owned unconditionally by you) upon deposit.

All employees who are at least 21 years old are eligible to participate on their first day of employment and can contribute up to the IRS annual maximum allowable contribution. An additional catch-up program, within the IRS guidelines, is available for employees over 50 years of age.

401K Company Matching Contributions

The Clearinghouse's 401k plans provide for company matching contributions. Our management and the board of directors determine the matching contribution amount. Currently, we match $2.00 for every $1.00 of deferral up to 5% for a total of 10% match, if the employee defers 5%. The money contributed by the Clearinghouse follows a separate vesting schedule of 25% per year.

Vacation

Employees accrue vacation based on their length of service with the Clearinghouse. Full-time and part-time (less than 30 hours per week) employees accrue vacation on an hourly basis, based upon time worked (excluding overtime).

Vacation Buy Back Program

At the end of each calendar year, employees can request that the Clearinghouse buy back a portion of their unused accrued vacation. Certain restrictions apply.

Sick Time

For each pay period from the date of hire, employees accrue sick time that can be used for absences because of illness, injury, or doctor/dental for themselves, their spouse, children, parents, their spouse's parents, or others who reside in the employees' home for at least one year. There is no limit to the number of hours of sick time an employee can accrue.

Personal Time

Employees can use some of his or her accrued sick time as personal time during the year. The amount of sick time used for personal time is based on the employee's length of service.

Holidays

The Clearinghouse observes 11 holidays per year.

Term Life and Accidental Death and Dismemberment Insurance

The Clearinghouse, through Mutual of Omaha, pays for a term life insurance policy and an accidental death and dismemberment policy for full- and part-time employees equal to three times your base annual salary, up to a maximum of $500,000. Enrollment eligibility starts on the first day of employment.

Life Insurance for Spouse and/or Dependents

The Clearinghouse, through Mutual of Omaha, pays for a $5,000 life insurance policy for full- and part-time employees for your Spouse and/or your dependent children. Enrollment eligibility starts on the first day of employment.

Short-Term and Long-Term Disability Insurance

The Clearinghouse, through Mutual of Omaha Financial, pays for short- and long-term disability insurance policies for full- and part-time employees. Enrollment eligibility begins at the employee's 90-day anniversary. The effective insurance date is the first day of the month following the eligibility date.

Flexible Spending/Cafeteria Plan

The Clearinghouse offers an exceptional way to decrease your taxable income through the employee benefits Cafeteria Plan provision of Internal Revenue Code Section 125, also known as flexible spending. Under a Section 125 plan, pre-tax dollars are used to purchase benefits. A Section 125 Cafeteria Plan can increase your take-home pay by allowing you to use pre-tax dollars to purchase your benefits. During the January through December plan year, you can redirect up to $2,500 annually for un-reimbursed health care expenses and up to $5,000 annually for qualified dependent care expenses. Enrollment eligibility is the first day of employment.

Employee Education Assistance Program

Our Employee Education Assistance Program reflects the Clearinghouse's commitment to continuing our employees' education.

Years of Service and Employee Recognition Awards

Our service awards are used to recognize and thank employees for their years of loyalty and service to the Clearinghouse. Each time a service milestone is reached an award is presented to the employee.

The Clearinghouse believes that our greatest strength is our employees. Our employee recognition program is our way of acknowledging and rewarding your contribution to our success. We support the recognition of outstanding employee contributions through gifts, prizes, and awards.

Employee Entertainment Team Building and Wellness Committees

The Clearinghouse has several committees comprised of employees.

The Entertainment Team Building Committee coordinates enjoyable and rewarding activities throughout the year in order to foster good relations between and among employees. The committee sponsors fun events and provides opportunities for employees to meet and interact with peers.

The Wellness Committee provides wellness-related information and coordinates events to promote healthy lifestyles and work-life balance for Clearinghouse employees and their families.

Matching Donation Program

The Clearinghouse will match certain employee donations to educational and/or charitable organizations located in the United States or one of its possessions.

Fitness Room

The Clearinghouse is located in a building that has a fitness room that is available for all our employees to use.

Adoption Assistance

Employees can be reimbursed for expenses associated with adopting a child. The maximum benefit per adoption is $5,000 for full-time employees.

Employee Assistance Program (EAP)

Our Employee Assistance Program offers information and resources for you and your family members with confidential assistance to help resolve personal, family and work issues, including dependent care, elder care, stress, depression, and grief.

AAA Membership

The Clearinghouse reimburses the employee's annual basic AAA membership. AAA provides a full range of services including automotive assistance, travel planning, entertainment, financial assistance and loans, insurance, as well as automobile and home purchases and repairs. It also offers a Visa credit card and discounts available only to AAA members.

Wholesale Club Memberships

Employees are eligible to be reimbursed for the annual basic membership fee for any one of these three popular warehouse clubs: Costco, Sam's Club, or BJ's.

Credit Union Membership

As a Clearinghouse employee, you are eligible to open an account with Apple Federal Credit Union. Apple Federal Credit Union is a not-for-profit, member-owned cooperative that serves the financial needs of its members by providing high quality products and competitive rates on loan, deposit, and other consumer services, along with personalized service and efficiency.

Microsoft Office Home Use Program

Through our Microsoft's Home Use Program (HUP), you can purchase a single copy of software directly from Microsoft for use on your home computer. Your only cost is the fulfillment fee to download the software directly to your computer or, if you opt to have the DVD mailed to you, the fulfillment, packaging, shipping, and handling costs. You may use this software while you are employed by the Clearinghouse.