The following information describes the benefits Silfex provides for employees in the United States. Inquiries regarding international benefits should be directed to Silfex’s Human Resource department.
The diversity of Silfex’s employee population is one of our greatest strengths. Our benefits program supports that diversity by providing a broad set of options that can be tailored to individual needs.
- Health and Well Being Benefits
- Income Protection Benefits
- Financial Accumulation Benefits
- Work and Family Benefits
- Additional Benefits
Medical Coverage: Employees can choose from traditional preferred provider organization (PPOs) medical plans and a Consumer Health Directed Plan with various deductibles, co-payments, and annual out-of-pocket limits.
Dental Coverage: Employees have three dental plan choices with varying deductibles and coinsurance.
Vision Care: An eye examination and new lenses are covered every 12 months. Frames are covered every 24 months. Higher benefits are paid when using the preferred provider network.
Health Care Flexible Spending Account: Pre-tax dollars can be used to pay any eligible medical, dental, or vision care expenses that are not covered by other benefit plans.
Dependent Care Flexible Spending Account: Pre-tax dollars can also be used to pay for certain dependent care expenses.
Wellness Programs: Silfex offers a wellness lifestyle program for a variety of activities, including health fairs and brown bag workshops. We provide year-round, 24-hour access to our on-site fitness facility, at no cost to the employee and eligible family members.
Company Provided Life Insurance and Accidental Death and Dismemberment (AD&D) Insurance: This program provides financial security for family or other beneficiaries in case of death and for death and dismemberment resulting from an accident.
Supplemental Employee Paid Life Insurance and Accidental Death and Dismemberment (AD&D) Insurance: Employees can opt for additional financial security for death or dismemberment resulting from an accident.
Dependent Life Insurance: This program covers unexpected expenses resulting from the death of a spouse or dependent child
Company Provided Short-Term Disability Plans: During the first 120 days of short-term disability provides employees with income protection.
Company Provided Long Term Disability (LTD) Insurance: When employees cannot work for a period longer than 120 days as a result of a prolonged disability this program provides a portion of regular income.
Savings Plus 401(k) Plan: This retirement savings plan offers an investment opportunity and a tax deferral benefit for all eligible employees. Silfex matches 50 percent of the first 6 percent of base salary deferred into the program. Silfex’s matching contribution vests immediately.
Employee Stock Purchase Plan: At designated intervals, Silfex employees can purchase Lam Research stock directly from the company at 85 percent of fair market value.
Vacation Program: Days of vacation accrue incrementally with years of service. Employees receive vacation on an "earn as you go" basis. Employees earn 1/12 of their annualized vacation entitlement during each month of their employment. Vacation may be used in advanced of it being "earned".
Vacation Program: Days of vacation accrue incrementally based on job level and years of service. For most employees it is as follows:
- Starting at date of hire through 4 years, 10 days
- At start of 5th year through 15th year, 15 days
- At completion of 15th year, 15 days plus an additional half day of vacation for each additional year
- At completion of 25 years, maximum vacation accrual is 220 hours per year
Holidays: There are up to 11 paid holidays per year.
Paid Time Off: Employees accrue Paid Time Off from their first day on the job for either illness or personal business.
Additional paid time off for Jury Duty and Bereavement.Back to top
Educational Assistance: Upon approval, assistance is available to reimburse employees for expenses incurred for registration, tuition, and books in career-related courses.
Employee Assistance Program (EAP): Employees and their dependents can receive confidential help from mental health, financial, and legal professionals free of charge.
Other Programs: Employee referral awards, Service award program, and Community support