Schlumberger – OFS1 / New to Canada Payroll … to Canada Employee Benefit...Schlumberger-Private...
Transcript of Schlumberger – OFS1 / New to Canada Payroll … to Canada Employee Benefit...Schlumberger-Private...
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Schlumberger – OFS1 / New to Canada Payroll Employee Benefit Presentation 2018
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Schlumberger-Private
Agenda Schlumberger’s Flexible Health Benefits - New to Canada? - Flex Benefit Options – Health, Dental, Insurance & Disability - How to select the right benefits for you - How to Enroll online - Managing your claims throughout the year - Additional Employee Benefits Schlumberger’s Financial Benefits - Defined Contribution Pension Plan (DCPP), Deferred Profit Sharing Plan (DPSP) - Group Registered Retirement Saving Plans (RRSPs), Tax Free Savings Accounts (TFSA) - Discounted Stock Purchase Plan (DSPP) Websites & Questions
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Schlumberger-Private
New to Canada?
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Schlumberger-Private
Provincial Health Care Plans The Schlumberger group health plan works in conjunction with the government sponsored health plan You must be a member of the provincial healthcare plan to participate in the Schlumberger group plan To apply and obtain a provincial health care card visit Service Canada: https://www.canada.ca/en/health-canada/services/health-cards.html
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Schlumberger-Private
The group & government plan work together! The government provides coverage for some medical services
including doctor visits and hospital stays – just show your provincial healthcare card!
The Schlumberger group plan provides supplementary coverage for items such as prescription drugs, dental treatments, and paramedical services.
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Schlumberger-Private
Flex Benefit Options – Health, Dental, Insurance & Disability
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Schlumberger-Private
Introduction to Flex Benefits
You have a variety of benefits to choose from Schlumberger provides you with enough flex dollars to pay the full
cost of option 2 for both health and dental coverage You also receive additional flex dollars to use where you choose Each benefit has different options with different price tags If you have leftover flex dollars, you can deposit them into your
Health Care Spending Account (HCSA) or Wellness Spending Account (WSA)
What you don’t pay for with flex dollars, you can cover with payroll deductions
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Schlumberger-Private
Your Benefit Choices
Enroll online by click ‘First Time User’ 1-2 weeks after your start date
Or enroll 2 – 4 weeks after your start date. You will receive an Enrollment Package – with a copy of the Enrollment Guide and a letter with your temporary PIN to access the online enrollment tool
You will have 30 days from the date listed on your letter to enroll Your benefit choices will be in effect from your hire date or first day
on Canada payroll until the end of the plan year (December 31) Any claims incurred after your start date, can be claimed once you
are set up in the system
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Schlumberger-Private
How to Enroll
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Schlumberger-Private
How to Enroll
www.slb-benefits.ca
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Schlumberger-Private
How to Enroll (continued)
Step 1: Log on Go to the Employee Self
Service website You can sign on from any
computer with Internet access Use your General Identification
Number (GIN) and your enrollment PIN to log on
If you have forgotten your PIN, just click on “I Forgot My PIN” on the home page https://schlumberger.seb-admin.com
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Schlumberger-Private
How to Enroll (continued)
Step 2: Select your benefits The enrollment website will guide you to Verify your contact information Verify your dependent information Choose your benefit options for you
and your dependents Review your beneficiary(ies) Allocate any excess flex dollars to
your HCSA or Wellness Account
https://schlumberger.seb-admin.com
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Schlumberger-Private
How to Enroll (continued)
Step 2: Select your flex benefits Save your choices if you need to leave
the YBR website before you have completed your enrollment
You can continue where you left off next time you log on
Once you click on “OK” your choices will be saved and will become your coverage for next year
https://schlumberger.seb-admin.com
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Schlumberger-Private
How to Enroll (continued)
Step 3: Complete your forms You may need to complete
beneficiary designation forms for your life and AD&D insurance
If you choose optional life insurance for you or your spouse, you will need to fill out an Evidence of Insurability (EOI) form
If you don’t return your signed forms, your changes, including any new beneficiary designation, will not take effect
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Schlumberger-Private
Schlumberger Flex
Extended Health Coverage
(3 Options)
Provincial Coverage (BC Only)
Dental Coverage (4 Options)
Long-Term Disability Insurance
(3 Options)
Employee Life Insurance
(Basic and Optional)
Spouse and Child Life Insurance
(Basic and Optional)
Employee AD&D Insurance (Basic and Optional)
Spouse and Child AD&D Insurance
(Optional)
Critical Illness Insurance
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Schlumberger-Private
Provincial Health Care
British Columbia Schlumberger pays 50% of the cost of your BC provincial health
care premium Required in BC only Complete Schlumberger Group Benefits Form
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Schlumberger-Private
Covering Your Dependents
You can cover: Yourself Yourself + one dependent Yourself + two or more
dependents
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Schlumberger-Private
Extended Health Care Option 1 Option 2 Option 3
Reimbursement • For all eligible
expenses 70% 90% 100%
Prescription drugs • Deductible Dispensing fee Dispensing fee Dispensing fee
Hospital Semi-private Semi-private Private
Vision care (24 months) None $150 $350 Paramedical services • Maximum per service $500 $500 $1,000
• Annual combined max $1,500 $1,500 $1,500
Orthotics (annual max) $150 $150 $150
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Schlumberger-Private
Dental Option 1 Option 2 Option 3 Option 4
Deductible None None None
No coverage
Basic dental • Recall exams • Periodontics
70% 6 months 16 units
90% 6 months 16 units
100% 6 months 16 units
Major dental • Crowns
50% Included
70% Included
80% Included
Combined maximum $1,500 $2,000 $3,000
Orthodontia • Under age 18 • Lifetime max
No coverage 50% $2,000
50% $3,000
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Schlumberger-Private
Life Insurance Basic Optional
Paid for by… Schlumberger You Automatic Yes No
Coverage For you 2 x your admissible
compensation Multiples of $25,000
For your spouse $10,000 Multiples of $25,000
For your child(ren) $5,000 Multiples of $5,000
Schlumberger-paid premiums are taxable Additional optional coverage requires EOI
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Schlumberger-Private
Accident Insurance Basic Optional
Paid for by… Schlumberger You Automatic Yes No
Coverage For you 2 x your admissible
compensation Multiples of $25,000
For your spouse N/A Multiples of $25,000
For your child(ren) N/A Multiples of $5,000
No evidence of insurability is required for AD&D coverage
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Schlumberger-Private
Critical Illness (new since 2017) Optional coverage Provides a tax-free lump sum that you can
spend how you choose Paid through payroll deductions Units of $10,000, starting at $20,000 to a
maximum of $250,000 You can select up to $50,000 in coverage
without providing EOI 2017 year only! Premiums are based on your gender, age
and smoking status You can also purchase $5,000 in critical
illness coverage for your child(ren)
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You can use it for …
Treatment outside of Canada
Treatments not covered by your provincial plan
Child care Travel to a regional
treatment centre Meals Parking New or experimental
drugs Lost income for a family
member to support the patient.
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Schlumberger-Private
Critical Illness (continued)
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Covered illnesses include:
Aortic surgery Aplastic anemia Bacterial meningitis Benign brain tumour Blindness Cancer (life-threatening) Coma Coronary artery bypass surgery Deafness Dementia, including Alzheimer’s disease Heart attack Heart valve replacement or repair Kidney failure
Loss of independent existence Loss of limbs Loss of speech Major organ failure on waiting list Major organ transplant Motor neuron disease Multiple sclerosis Occupational HIV infection Paralysis Parkinson’s disease and specified atypical parkinsonian disorders Severe burns Stroke
For children: Cerebral palsy Congenital heart disease Cystic fibrosis Down’s syndrome Muscular dystrophy Type 1 diabetes mellitus * Note: Check out Enrollment Central for more details
*
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Schlumberger-Private
Business Travel Accident Insurance
You *Spouse
Paid for by… Schlumberger Schlumberger
Mandatory Yes Yes
Coverage 4.5 x eligible compensation $50,000
Maximum $1,000,000 $50,000
*Spouse is covered only if Schlumberger requested that they travel with you.
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Schlumberger-Private
Short-term Disability Coverage
Fully paid by Schlumberger Available for 26 weeks Equal to 100% of your base pay for Office Employees and 130% of
base pay for Field Employees No options to choose
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Schlumberger-Private
Long-Term Disability
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Schlumberger-Private
Your Health Care Spending Account
How it works: Schlumberger provides each employee with $300 in flex dollars You’ll use your flex dollars to pay for the benefits you choose Depending on your benefits selections, you may have leftover flex
dollars This amount can be deposited into your HCSA or Wellness
Spending Account You can use the funds in your HCSA for reimbursement for any
eligible medical expense (per CRA) The best part is that it’s tax free!
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Schlumberger-Private
Your Health Care Spending Account
Examples of eligible expenses: The percentage of dental or health care related expenses that you pay Prescription drug dispensing fees Eyeglasses, contact lenses, or laser surgery Orthodontia or other dental expenses not covered under your
dental option Health care expenses of relatives who are financially dependent on
you, but not covered by Schlumberger Flex, like a parent or sibling
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Schlumberger-Private
Wellness Spending Account
Your allocation – January 1 You pay tax each January on your
wellness claims made in the previous year.
You submit claims to Sun Life just as you would for your HCSA
Claim forms will be available on the Sun Life website
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Schlumberger-Private
Wellness Spending Account Examples of eligible expenses: Vitamins and supplements Orthopedic beds & pillows Cholesterol and
hypertension screening Health assessments/
screening Allergy tests Reflexologists Herbalist Homeopaths Athletic therapists Maternity services Health education programs
Exercise physiologists Chinese medical practitioners Shiatsu therapists Osteopathic practitioners Acupressurists Occupational therapists Fitness equipment (excluding
apparel and footwear)
Fitness league fees Fitness classes LTD premiums Comprehensive medical exams Naturopathic medicines Financial Planning
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Schlumberger-Private
Your HCSA & WSA
The fine print: Flex dollars expire two plan years after deposit You must claim expenses in the year they occur Flex dollars may only be withdrawn to reimburse eligible expenses If your employment with Schlumberger ends or you are transferred
outside of Canada, any eligible claims incurred before you leave must be received by Sun Life within 90 days of your last day at work; after that, your HCSA & WSA dollars will be forfeited.
You have two years!
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Schlumberger-Private
How to select the right benefits for you
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Schlumberger-Private
What you need to think about
Health and Dental Look at this year’s claims Think about what’s changed
Chronic conditions? The need for major
dental work? Orthodontia planned?
Talk to your doctor and dentist
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Schlumberger-Private
What you need to think about (continued)
Life and Accident Coverage Think about your current
financial obligations Determine what your future
income needs will be What would your family need if
you weren’t there? Consider other insurance
coverage you may have
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Schlumberger-Private
What you need to think about (continued)
Long-Term Disability Think about your current
financial obligations Consider other family income Determine what your future
income needs will be
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Schlumberger-Private
Coordinating Your Benefits
Does your spouse have a benefit plan? Receive up to 100% coverage by coordinating your two plans By choosing a lower option with a less expensive price tag, you’ll
have more flex dollars to direct elsewhere or deposit into your HCSA/WSA.
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Schlumberger-Private
Coordinating Your Benefits
An example Marco has chosen
Extended Health Option 1 (70% reimbursement)
Marco has $400 in physiotherapy claims to submit
Submits $400 claim to SLB Flex (70%)
Receives a reimbursement of $280
Submits to his spouse’s plan
Receives a reimbursement for the remaining $120
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Schlumberger-Private
What you need to think about (continued)
Taxable Benefits Premiums on a number of benefits are taxable You’ll see the amount on your pay slip You pay tax on:
Flex dollars used to pay for life insurance Flex dollars used to pay for accident insurance Business travel accident insurance premiums Wellness Account reimbursements
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Schlumberger-Private
Want more information? Enrollment Guide • Plan summary • Help with decision-making • Real life examples
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Schlumberger-Private
How to Enroll (continued)
Benefit Default Coverage
Extended Health Care Option 1
Provincial Health Care (BC only) Current coverage
Dental Option 1
Basic Employee Life 2 x eligible compensation
Basic Spouse Life (if on file) $10,000
Basic Child Life (if on file) $5,000
Basic AD&D 2 x eligible compensation
Long-Term Disability (LTD) Option 1
Any excess flex dollars Deposited to your Wellness Account
If you don’t enroll
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Schlumberger-Private
Changing Your Benefits
Life changes! So can your benefits There are two types of opportunities to change your coverage:
During the annual enrollment period each year After you have a life event
Be sure to make your benefit changes on the enrollment tool within 30 days of any life event https://schlumberger.seb-admin.com
Life events include marriage, divorce, the birth or adoption of a child, the death of a dependent, or your
spouse losing his or her benefits coverage.
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Schlumberger-Private
Managing your claims throughout the year
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Schlumberger-Private
Submitting Your Claims
Sun Life is the benefits provider for Schlumberger Flex You can submit claims many ways:
Paper forms Online via Sun Life website Mobile App (for iPhone, Android or Blackberry) Automatically with your Assure Card (prescription drugs) at the
pharmacy Wellness Account claims may only be submitted via paper claim
form
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Schlumberger-Private
Sign up for Sun Life
Go to www.mysunlife.ca Click “Register now”
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Schlumberger-Private
Sign up for Sun Life
Go to
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Schlumberger-Private
Mobile App
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Benefits in your pocket
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Schlumberger-Private
Additional Employee Benefits
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Schlumberger-Private
Shepellfgi
Employee and Family Assistance Program Confidential help with work and life issues Services include:
Professional counseling including an online program. Access to subject matter experts.
Online resources, tools, articles, action plans and self-directed help kits on real and relevant issues.
www.workhealthlife.com or 1-866-833-7690
Family Support Financial Support Legal Health Coaching
Naturopathic Service Nutrition Work/Life Balance
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Schlumberger-Private
Medical Travel Assistance
For use with business or personal travel (can be used in Canada outside of your province, or anywhere outside of Canada)
Covers a variety of costs resulting from a medical emergency while traveling (read Emergency Travel Assistance section of Your Group Benefits booklet for full services offered)
Treatment charges are paid by the employee and then reimbursed through the Sun Life
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Schlumberger-Private
Schlumberger’s Financial Benefits Defined Contribution Pension Plan (DCPP) Deferred Profit Sharing Plan (DPSP) Group Registered Retirement Saving Plan (RRSP) Tax Free Savings Account (TFSA) Discounted Stock Purchase Plan (DSPP)
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Schlumberger-Private
Defined Contribution Pension Plan (Schlumberger) Eligibility – First of the month following 3 months of service Contributions are made each pay period as a percentage of your
total pay You will be automatically enrolled at a 3% contribution rate in order
to maximize company contributions Schlumberger will contribute 2% automatically, and will additionally
match your contribution up to 3%. You can contribute a maximum of 5%, bringing your maximum
possible contribution to 10% Vested immediately in Employer Funds EE 5% + ER 2% (basic) + ER 3% (match)
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Schlumberger-Private
Your Pension Plan Eligibility Full-time regular non-union employees and
part-time non-union employees with regular work schedules of 30 or more hours per week must join the plan on the first day of the month of eligible employment
Your Contributions You are not required to contribute. You may make optional contributions from 1% to 5% of your earnings. You may change the amount of your contributions on Jan 1, Apr 1, Jul 1, or Oct 1 of each year.
Employer Contributions 3.5% of your earnings up to the YMPE, then increase 2.5% of the remainder In addition, your employer will match your optional contributions at a rate of 100% of your contributions up to 3%, and 50% of the next 2%
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Schlumberger-Private
Deferred Profit Sharing Plan (DPSP)
Eligibility – First of the month following one year of service Vested after 3 years of service Based on profitability, the Company will contribute up to 15% of
your admissible compensation to your DPSP account For Example: (2015 award was 6%)
If the employee’s admissible compensation was $80,000.00 and the profit sharing award was 6%, the dollar figure would translate to $4,800.00
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Schlumberger-Private
Registered Retirement Savings Plan (RRSP)
A savings plan registered with the Canadian federal government
allowing you to save for the future on a tax-sheltered basis. An RRSP is an investment portfolio. It can contain a variety of
investments What makes an RRSP special is that your contributions to it are tax
deductible and your portfolio grows tax sheltered. Eligibility - voluntary participation on the first day of the month
following 3 months of service No Company contributions Voluntary contributions (payroll deductions) up to your RRSP
contribution limit - if you don’t know your limit, contact the Canada Revenue Agency
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Schlumberger-Private
Tax Free Savings Account (TFSA) A flexible, registered, general-purpose savings vehicle that allows you
to earn tax-free investment income
Voluntary contribution up to $5,500 annually Investment income earned & withdrawals from a TFSA are tax-free.
Contributions are not tax-deductible.
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Schlumberger-Private
Pension and Profit Sharing Package
Sun Life is our benefits carrier for the financial benefits Employees receive a Financial benefits package with information
on how to access their accounts Transfer ins to Canada will receive this 2 – 4 weeks after their start
date New Hires will receive this 6 weeks before they are eligible, so
about 6 – 8 weeks after their start date
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Schlumberger-Private
Sun Life website
Retirement and Savings Check out your Sun Life
retirement and savings accounts
How much are you contributing? Should you be contributing more?
Have you used the Sun Life financial planning tools?
What about your investments?
mysunlife.ca
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Schlumberger-Private
What you need to think about (continued)
Retirement and Savings Go to ‘my financial centre’ and
update your beneficiary information under tab ‘Quick Links’
Click on the “Edit” button and ‘Submit’
No form to sign and no form to mail
mysunlife.ca
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Schlumberger-Private
Discount Stock Purchase Plan (DSPP)
Eligibility – Employees are eligible upon hire, but can only enroll in June or December Employees can contribute 1 to 10% of their total pay towards DSPP Your DSPP balance accumulates throughout the plan period
(January through June and July though December) On the last day of the plan period, you automatically purchase as
many shares of stock as you can with your DSPP balance Price is determined as: lower of the stock price on the first trading
day of the plan period (July 1st Or Jan 1st) or the last trading day of the plan period (June 30th or Dec 31st) less 7.5%
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Schlumberger-Private
Discount Stock Purchase Plan (DSPP)
Plan Period July 1, 2015 – Dec 31, 2015 Price on July 1, 2015 Price on Dec 31, 2015 $85.30 $69.69 -7.5% Purchase Price is $64.47 USD
Example:
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Schlumberger-Private
Discount Stock Purchase Plan (DSPP)
Certify your tax status
W-8BEN FOR NON-US CITIZENS/RESIDENTS OR W9 FOR US RESIDENTS/TAX PAYERS
If you don’t certify your tax status, you will be subject to an automatic
US Tax withholding (28%) as required by the US Internal Revenue Service (US tax authorities).
Questions: Contact Computershare Shareowner Services (previously known as BNY Mellon). [email protected] or +1-866-752-3777 in USA or +1-201-329-8253 outside USA
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Schlumberger-Private
Websites and Questions Enrollment Central: http://slb-benefits.ca Canada HR Hub http://www.hub.slb.com/display/index.do?id=id3025297 AskHR is your one-stop shop for all HR related questions
1-877-9-ASKHR-9 1-877-927-5479 Online : http://askhr.slb.com E-mail: [email protected]