Essay on part I Profile of benefits of organiza

Submitted By victoriaber
Words: 839
Pages: 4
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Part I:

Benefit Plan Design Analysis

LORAL
Space & Communication (SSL)
INC.

DeVry University – Keller Graduate School of Management
HRM 599 Benefits
Prof. Thomas Kinney

Victoria Berahmandpour
07/12/14

Table of Contents:
Title Page…………………………………………………………………………. 1
Table of Contents…………………………………………………………………. 2
SSL Profile…………………………………………………………………...…… 3
SSL Benefits Plan…………………………………………………………...……. 4

SSL Profile
SSL Inc. is a satellite communications company which founded in 1996 and company headquarter is in New York. “SSL works closely with satellite operators to provide spacecraft for a broad range of services including television and radio distribution, digital audio radio, broadband Internet, and mobile communications.” (SSL Overview, n.d.). Beginning with the world’s first communications satellite, Courier 1B, launched in 1960, SSL has manufactured more than 250 satellites, delivering in excess of 2,000 years of on-orbit service (SSL Overview, n.d.). In addition to complete satellites, SSL was the exclusive provider of batteries to the International Space Station for more than 10 years and has provided the U.S. Government with a variety of instruments including antennas on the Voyager spacecraft and a ranging system on the GRACE satellites (SSL Overview, n.d.). SSL’s commercial platform has also been leveraged for numerous unique applications, such as GOES Weather satellites, Air Traffic Control in Japan, and a propulsion system for NASA’s Lunar Atmosphere and Dust Environment Explorer (LADEE) (SSL Overview, n.d. para.5.).
SSL owns 62.8% of Telesat, a leading global satellite operator providing reliable and secure satellite delivered communications solutions worldwide to broadcast, telecom, corporate and government customers and headquartered in Ottawa and Canada. Also, SSL owns 56% of XTAR, a joint venture between Loral and HISDESAT, a consortium comprised of leading Spanish telecommunications companies, including Hispasat, S.A., and agencies of the Spanish government (Loral.com). On November 2, 2012, Loral subsidiary, Space Systems/Loral was sold to MacDonald, Dettwiler and Associates Ltd. (TSX: MDA) (loral.com).

SSL Benefits Plan
SSL Inc. benefits plan includes health care, life insurance benefits, 401K, vacation pay, sick pay, disability insurance, dental and vision, and Supplemental, plus government regulations for employees such as Medicare, unemployment insurance, workers compensation, and family and medical leave (FMLA).
The Retirement Plan of Space Systems/Loral, Inc. (which will be referred to as the “Retirement Plan” or simply as the “Plan”) is designed to provide you with a foundation of retirement income. Together with Social Security, the Loral Savings Plan (the “Savings Plan”), and your own personal savings, the Pension Plan – which is paid for in full by the Company – can help provide a comfortable standard of living throughout your post-working years (Loral Pension Plan/Headquarter, 2013).
Health plan at SSL Inc. include blue shield PPO with Health Reimbursement Account (HRA) which is high deductible health plan, blue shield EPO (Exclusive Provider Organization) is where employee receive medical care through network of physicians. Kaiser HMO which employee receives health care through Kaiser Permanente network (Olerich, 2014).
Life Insurance provides for all active employee who has medical coverage and pays 0.6% times of annual base salary, times years of vested Accrual Service as of the last day worked. The company also has grandfather which pays a higher level of benefits which qualified if the employee at age 55, started since 1993, and has been credited with 10 full years of vesting service and pay 0.6% of the base salary and if
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