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Short-Term Disability
You are automatically enrolled, at no cost, in the basic Short-Term Disability (STD) Plan and may
receive benefits if you are absent from work for up to 10 consecutive weeks due to a non work-related
disability caused by an illness, injury, or pregnancy for six consecutive work days or more. Following
a five-day waiting period, the insurer pays up to 75% of your base pay for up to 10 consecutive weeks
of your approved disability.
Short-Term Disability Plus Coverage
You can elect to supplement the company-provided coverage by purchasing optional Short-Term
Disability (STD) Plus coverage equal to an additional 25% of your base pay completely tax-free
for up to 10 consecutive weeks of your approved disability.
Long-Term Disability
Long-Term Disability (LTD) coverage is optional. It provides income replacement when an illness
or injury keeps you out of work for more than 10 consecutive weeks. You may choose to receive
either 50% or 60% of your basic monthly earnings, up to a maximum monthly benefit payment.
Benefits begin when your STD benefits are exhausted, provided you
remain disabled.
Occupational Long-Term Disability Plan
If you are unable to work for more than 10-consecutive weeks because
of a work-related illness or injury, the Occupational Long-Term
Disability (LTD) Plan supplements the benefits provided by workers'
compensation. The plan is offered to offset state maximums on
workers' compensation benefits. You are eligible to participate in
the Occupational LTD Plan, if you are enrolled in the Long-Term
Disability Plan, which covers disabilities that result from
non-work-related illnesses or injuries and you have an annual base
salary of $50,000 or more.
Basic Life Insurance
Raytheon provides basic life insurance at one times your annual base pay.
Optional Life Insurance
You can buy additional life insurance in coverage amounts from one time up to six
times your annual base pay.
Dependent Life Insurance
In addition to life insurance coverage for you, there are a variety of life insurance options
for your spouse and dependent children. You may elect this coverage even if you do not elect
optional life insurance coverage for yourself.
Accidental Death & Dismemberment Insurance
You can purchase coverage of one to five times your annual base pay. If you choose optional
AD&D coverage for your family, your dependents' coverage will be a percentage of the amount
you choose for yourself.
Business Travel Accident Insurance
This company-paid plan provides you with accidental death and dismemberment coverage
for injuries caused by a covered accident while you travel on company business.
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