We believe our employees are the most important investment for success. Our comprehensive compensation and benefits programs reflect our belief. Our goal is to attract, retain, and reward employees who are responsible for the organization's long-term sustainability.
How do we achieve this goal?
Our benefits program is designed to provide employees and their family with quality offerings that promote prevention, wellness and provide financial security. You decide which benefit offerings best meet your personal needs.
There are three self-insured medical plans from which to select. Two of the plans include a health reimbursement account (HRA) and the other plan is a qualified high deductible health plan with a health savings account (HSA). Colorado Springs Utilities offers choices for each employee, so they can select a medical plan that is just right for them and their family. These three medical plans allow you to take control of your health care costs while providing affordable benefits and quality coverage. The plans are administered by Cigna who offers national health care access under the Open Access Plus network.
We provide comprehensive dental coverage, which offers access to use a variety of dentists. There are two self-insured dental plans to choose from. Benefit coverage includes routine/preventative services, basic services such as fillings and periodontal, major services such as crowns and implants, and orthodontia benefits. The plans are administered by Delta Dental of Colorado.
We offer employees a fully-insured vision plan from Anthem Blue View Vision, which has one of the largest nation-wide networks, with a selection of experienced ophthalmologists, optometrists, opticians and retail locations.
Our Educational Assistance Program provides reimbursement up to $5,250 each year for tuition for career development courses or for courses part of an Undergraduate or Master’s Degree Program. Courses must have a reasonable relationship to Colorado Springs Utilities business and be approved in advance. Employees are required to have 12 months of service before using this benefit program.
Short-term disability (STD)
STD is designed to bridge the gap when sick leave is exhausted and long-term disability benefits would begin. Benefits begin after a one week waiting period or after sick leave is exhausted, whichever is greater. The plan pays up to 60 percent of your weekly earnings up to a $1,500 per week maximum. STD benefits are payable up to seven or 25 weeks, depending on your vesting status. Benefit payments are non-taxable. This plan is fully paid by the employee. Aetna is the contracted vendor for disability services.
Long-term disability (LTD)
LTD begins after 180 days of disability. The plan pays up to 60 percent of your monthly earnings up to a $10,000 per month maximum. Benefits payments are non-taxable. LTD benefits are paid for a maximum of two years, unless disabled from all occupations. This plan is fully paid by the employee. Aetna is the contracted vendor for disability insurance.
PERA also offers disability programs once the employee becomes vested (5 years of service credit).
We offer employees and any member of their household confidential and convenient access to life management resources through our Employee Assistance Program (EAP) at no cost. Trained professionals will provide six face-to-face counseling sessions per issue, per person, per year and unlimited telephonic counseling. Counseling services can be used for stress and anxiety issues with work or family, relationship issues, substance abuse, personal life improvement, traumatic events. Other services include financial or legal services, identity theft services, tobacco cessation coaching, dependent care and daily living resources. Anthem EAP is the contracted vendor for these services.
We are committed to helping you balance your personal life with your important work at Colorado Springs Utilities. We understand how difficult it is to manage both a career and a personal life. We provide tools and employment solutions to reduce barriers of effectiveness caused by work and personal life challenges in order to maximize employee contributions over the course of your career, which reaffirms that Colorado Springs Utilities is a great place to work.
We offer a number of alternative work schedules directed by each business division intended to address both business needs and, whenever possible, your personal needs. Examples include 4-day workweeks; alternative start times; and part-time positions.
Basic life/accidental death and dismemberment (AD&D), supplemental life, supplemental AD&D insurance and Life Essentials Services are available to employees and eligible dependents. The contracted vendor for life insurance is Aetna.
Health Care Spending Account (HCSA)
The HCSA is an excellent tool to help employees plan and budget for qualified health care expenses. It provides you with the ability to pay for you and your family’s out-of-pocket health expenses with pre-tax dollars, up to a $2,600 annual maximum election. HCSA includes the IRS carryover provision allowing you to rollover up to $500 of unused funds into the following plan year.
Health Reimbursement Account (HRA)
The HRA is funded solely by Colorado Springs Utilities and is a component of the medical plan. HRA wellness funding may be earned by participating in the voluntary wellness program. You may use the HRA funding to pay for qualified out-of-pocket health care expenses. HRA funds rollover year-to-year if you remain enrolled in a medical plan. Additionally, the funds can be rolled over into the Retirement Health Savings Account if you retire from Colorado Springs Utilities.
Health Savings Account (HSA)
A HSA is a tax-advantaged health care savings account available to those employees who are enrolled in Colorado Springs Utilities qualified high-deductible health plan. This individually owned savings account is used to pay for qualified health care expenses for yourself and your tax-qualified dependents. Colorado Springs Utilities deposits funds into your HSA, as well as you may earn HSA wellness funding by participating in the voluntary wellness program, and you may then contribute the difference up to the IRS contribution limits with pre-tax deductions.
Dependent Day Care Spending Account (DCSA)
Paying dependent day care expenses with a DCSA is an excellent way to help save money on taxes. It allows you to pay for out-of-pocket dependent day care expenses with pre-tax dollars up to the $5,000 annual maximum.
WageWorks is our contracted vendor for spending and savings accounts.
Long-term care insurance (LTC) is designed to provide financial assistance in case care is needed in a long-term care facility, at home or another similar place such as a nursing home. You, your spouse as well as both you and your spouse's parents and grandparents (whether natural, adoptive or step), siblings and children (minimum age 18) are eligible to participate and receive monthly benefits for a three to five year duration or an unlimited duration depending on your election. This plan is fully paid by the employee who elects to buy coverage. Unum is the contracted vendor for LTC insurance.
Employees accrue paid vacation for years of continuous employment with Colorado Springs Utilities. You can earn 13 to 24 days of vacation each year depending on your length of service. Part-time employees earn vacation time as a pro-rata share of the full time accrual.
Vacation Buy enables employees to buy up to an additional week of vacation above their annual accrual and any carryover amount. The vacation you buy is paid for through payroll deductions over the year on an after-tax basis. Purchased vacation buy is added to your vacation accrual balance and is subject to Colorado Springs Utilities' carry-over policy.
Colorado Springs Utilities provides employees with ten paid holidays each year plus three personal leave days.
Employees accrue sick leave for hours worked at the rate of up to 3.6924 hours per pay period (12 days per year) for full-time employment. Part-time employees accrue sick leave hours as a pro-rata share of the full time accrual.
We promote a culture of health and wellness and our voluntary wellness program is designed to reinforce our commitment to helping you and your spouse become and remain healthy by providing rewards for making healthy lifestyle choices. We have partnered with Cigna and the YMCA of the Pikes Peak Region to bring you a very comprehensive wellness program package. By participating in the voluntary wellness program, you can earn wellness funding that can be used for qualified out-of-pocket health care expenses, as well as other various rewards.
YMCA of the Pikes Peak Region - Employees and spouses may each participate in facility visits that may include group fitness classes, working out in the gym, holistic health and wellness coaching services, personal trainer sessions, meeting with a nutritionist and fitness assessments at no cost. Access to a corporate membership program that provides you a monthly membership discount is also available.
Colorado Public Employees' Retirement Association (PERA)
PERA provides retirement and other benefits to employees at Colorado Springs Utilities. PERA qualifies as a bona fide fringe benefit, thereby exempting employees from paying into the Social Security system. In lieu of Social Security coverage, PERA provides benefits to you when you retire or are disabled or to your family after your death. In addition, PERA members may take advantage of voluntary programs offered such as life insurance, a 401(k) plan, Roth 401(k), and long-term care insurance. As a PERA member, you contribute a percent of your monthly salary to your PERA member contribution account and Colorado Springs Utilities contributes an additional percentage into your member account. Refer to the disability insurance section for more information on disability coverage through PERA.
International City Management Association (ICMA-RC)
Through ICMA-RC, employees can contribute to a Vantagepoint No-Fee Roth IRA, 457 plan, or a 457 Roth plan directly through payroll deductions. The Roth IRA is one of the best ways to grow your savings for retirement. Both the Roth IRA and the Roth 457 provides investors with the opportunity of a lifetime to build retirement assets without ever owing any taxes on the earnings, the ability to withdraw earnings tax-free and penalty-free withdrawal options. With the 457 plan, employees have the benefit of a convenient savings tool, an immediate reduction in their taxable income, tax-deferred growth and penalty-free access to their assets upon separation. The 457 plan also allows higher contributions than a Roth.