Health insurance
The bank pays approximately 70% of the total health plan costs each year, keeping our associate’s portion more affordable. Coverage is available for our associate, spouse and eligible dependents up to age 26.
Medical insurance: Two plan types are available — traditional and high deductible. All plan types include 100% coverage of preventative screenings and actively negotiated healthcare discounts.
Dental insurance: 100% coverage for preventative dental care and up to 80% coverage on most other dental care. Orthodontic allowance for dependents.
Vision insurance: Affordable vision with $10 co-pay for vision exams, $15 lens co-pay and annual allowance for either frames or contacts.
Retirement planning
Managed by the bank’s trust and investment professionals
The bank offers extremely competitive retirement savings plans, including a KSOP and a pension.
Employee Stock Ownership Plan (KSOP): Voluntary salary deferral plan with a 50% employer match. 100% vested upon first salary deduction.
Pension: Defined benefit plan paid entirely by the bank. The design is a cash balance plan providing a credit equal to 7% of your eligible compensation for qualified plan participants. Your benefit grows each year with a guaranteed interest credit based upon the 30-year Treasury rate. Three years of service required to be 100% vested.
Paid time off
We believe time away from the office is critical for overall wellness. Vacation, personal time and long-term sick are provided based upon your years of service and status as full or part-time.
Life insurance
Provided through Mutual of Omaha
The bank provides a generous Group Term Life policy as well as the opportunity to purchase Voluntary Term Life insurance for associates, their spouse, and dependents.
Group Term Life Insurance / Accidental Death & Dismemberment (AD&D): Group insurance plan providing a benefit to the named beneficiary for life and/or AD&D claims. The bank pays premiums for coverage up to 2.25 times annual earnings for full-time associates and $50,000 for part-time associates.
Voluntary Life Insurance / AD&D: Supplementary voluntary life insurance and AD&D plans providing additional coverage for you, your spouse, and dependents at negotiated group rates. Plan offers a guaranteed issue amount without needing evidence of insurability upon initial eligibility.
Pre-tax savings plans
We provide a turn-key way for you to save pre-tax money for health and/or dependent care expenses.
Dependent Care Flexible Spending Account (DC-FSA): Set aside money through salary deferral to pay for qualifying dependent care expenses (i.e. daycare, preschool, before or after-school care, elder daycare centers, etc.). *PLUS* The bank matches 50% of contributions up to the $5,000 IRS limit ($2,500 personal contribution, $2,500 bank contribution).
Healthcare Flexible Spending Account (HC-FSA): Set aside money through salary deferral up to the annual IRS limit for qualifying medical expenses. Save money by reducing taxable income and out-of-pocket expenses when using HC-FSA funds. Funds are easily accessible when using our Visa HC-FSA debit card. HC-FSA is available to those in a non-high deductible health plan, whether or not you participate in the bank’s medical insurance.
Associates can participate in a post-tax health savings account if covered in a high deductible health plan.
Benefit Overview
Enjoy a full range of benefits
We are proud to provide competitive benefits to all Park National associates. On average, our benefits provide an incremental value of 26% of an associate’s annual salary.
Benefits include:
Health insurance
- Medical, dental and vision insurance
Retirement planning
- Employee Stock Ownership Plan (KSOP)
- Defined benefit pension
Life insurance
- Group term life insurance / Accidental death and dismemberment (AD&D)
- Voluntary life insurance and AD&D insurance
Paid time off
- Vacation
- Personal time
- Long-term sick leave (full-time associates)
- 11 paid holidays
- Paid childbirth and parental leave
- Paid military leave
- Long-term disability (full-time associates)
Pre-tax savings accounts
- Dependent care flexible spending account (DC-FSA)
- Healthcare flexible spending accounts (HC-FSA)
Transparency in Coverage
This link leads to the machine-readable files that are made available in response to the federal Transparency in Coverage Rule and includes negotiated services rates and out-of-network allowed amounts between health plans and healthcare providers. The machine-readable files are formatted to allow researchers, regulators, and application developers to more easily access and analyze data.