Capital One CAPITAL ONE BENEFITS SUMMA- Benefits Summa- Benefits Summary Health and Wellness Insurance For Candidates Time Health Off and Wellness Financial Insurance Additional Time OffBenefits Financial Additional Benefits Updated June 2013
YOUR CAPITAL ONE BENEFITS PROGRAM Capital One offers a benefits program that is focused on helping you Be well physically, financially and emotionally. The program is designed to be: Responsive to our diverse associate population by providing the flexibility to select different benefits based on your personal situation and needs Competitive with other leading employers to ensure Capital One can attract and retain talented associates Consistent across the organization, where possible, to simplify administration, ensure high-quality service, achieve economies of scale, and make it easier for associates to move among our businesses as career development and business needs require Consumer-oriented with a rate structure that encourages informed decision making and where costs equitably reflect utilization of services This is a summary document for informational purposes only. Additional eligibility requirements may apply. This document is not intended to be part of the governing plan documents for the Capital One benefits plans. If there is a conflict between this document and the plan documents, the applicable plan documents will govern. Capital One reserves the right to modify or terminate benefits at its discretion at any time. The benefits described on these pages apply solely to employees of Capital One in the United States and are subject to the terms and conditions of any plans or policies for such benefits, as may be amended from time to time. HEALTH AND WELLNESS BENEFITS Medical Three options through Aetna offer a full range of preventative, emergency/ urgent care, inpatient/surgical, mental health and other coverages. Deductible, coinsurance and co-payments apply. Most preventative care is fully covered with no co-pay required. Dental Two dental options offer different levels of coverage based on needs and budget. Deductible and coinsurance apply. Vision Medically necessary vision care is covered under the Aetna Medical plan. Additional coverage can be purchased under the Davis Vision Plan, which may lower expenses for frequent users of vision-care services and supplies. Prescription Drug Capital One medical plan coverage includes prescription drug benefits through CVS Caremark. The program features both a retail pharmacy program and a mail order program designed to help you save time and money on maintenance medications. Prescription benefits are the same for all Aetna medical options. Be Well Programs Aetna offers a variety of interactive health and wellness programs where you can set and achieve individual health goals, identify your health needs, receive a personalized Health Report and Action Plan, earn incentives, and participate in recommended Healthy Living Programs. Employee Assistance Program The Capital One Employee Assistance Program (EAP) provides 24x7 support, advice and resources on subjects ranging from coping with change or a personal issue to finding a pet sitter or a moving company. Using EAP services is completely voluntary and confidential, and free of charge. Fitness Centers Capital One offers discounts to fitness centers around the country. Capital One also offers on-site fitness centers at select locations. VISIT AN ONSITE HEALTH CENTER Full time (FT) associates eligible at date Part time (PT) associates with standard hours of at least 20 hours per week are eligible after 6 months FT associates eligible at date 20 hours per FT associates eligible at date 20 hours per FT associates eligible at date 20 hours per Available to FT and PT associates and their family members enrolled in Capital One s medical plan through Aetna. There is no cost to use these programs. eligible upon date All associates and family members age 18+ are eligible at date of hire; Membership fees are managed through payroll deductions and are $15/month for associates and $25/month for each family member. As part of our continuing efforts to encourage all Capital One associates to Be Well, and to provide a convenient method for treating urgent and non-urgent illnesses, Capital One provides Family Health Centers at several of our campuses. Available to all associates and their immediate family members, the Family Health Center is a great way to reduce your out-of-pocket health care costs under the medical plan as co-pays are waived for all visits. Michelle, HR Communications: Capital One provides resources to support my wellness goals. I have taken advantage of the health assessment through Aetna which has shown me the areas I need to focus on based on my life and family medical history. The Employee Assistance Program is also a great resource for information on wellness for every part of my life and work. The best part about these services is that they are free and online. CAPITAL ONE BENEFITS SUMMARY FOR CANDIDATES 1
INSURANCE BENEFITS TIME OFF BENEFITS Stacey, Capital One Bank: Capital One gives us a variety of medical plan choices and provides us with a great deal of information to make the decision-making easier. Associate Life, Accidental Death and Disability/ Personal Loss Capital One pays 1x annual pay of life insurance to the designated beneficiary in the event of an associate s death, or in the event of certain injuries. Additional coverage can be purchased up to 5x annual pay as a new hire without proof of good health. If the combined coverage exceeds $1 million (as a multiple of annual pay), the total coverage will be lowered to the next multiple of salary below $1 million. Dependent Life Various coverage options are available through Aetna that pay a benefit in the event of the death of a spouse or child. By enrolling your spouse at the time of your hire, proof of good health will not be required from your spouse. Short-Term Managed Income Protection MIP (Disability) Pays benefits (as a percentage of base earnings based on years of service, up to a monthly cap) when work is missed for up to 180 days due to certain illnesses or injuries not covered by Workers Compensation. This plan is administered by Aetna and a probationary period applies. Long-Term MIP (Disability) The plan pays benefits (50% of base earnings, up to a monthly cap) when work is missed for more than 180 days and the associate is certified as partially or totally disabled. Additional coverage (additional 20% of base earnings) may be purchased as a new hire without proof of good health. Long-Term Care Coverage can be purchased to help pay for custodial care (i.e. nursing home care) for yourself or a family member as a result of an illness, accident or advanced age. New hires have a one-time opportunity to enroll without proof of good health. Workers Compensation Coverage is provided through the company, which pays benefits to an associate when work is missed based on state mandated guidelines. LONG-TERM CARE PLAN Available only to FT associates after 90 days week are eligible at date eligible upon date Our Long-Term Care Plan provides financial assistance if you or your eligible family members become unable to take care of yourselves. You may find care in the home with day-to-day activities or special attention in a residential facility, such as a nursing home or assisted-living center. Our Long-Term Care program provides various coverage levels based on what is required by your or your family member s needs. The program is open to associates whose standard hours are at least 20 each week.* You can apply for coverage for you, your spouse or domestic partner, along with your parents and grandparents. Your spouse or domestic partner s parents and grandparents can apply as well. If you enroll as a new hire you can obtain coverage for yourself without proof of good health. If you enroll later you will need to submit proof of good health. Proof of good health must always be provided for family members enrolled in Long- Term Care. Vacation - Non-exempt Associates The Paid Time Off (PTO) program provides non-exempt associates with a bank of time to use at their discretion - for vacation, illness or other time-off needs. One day is considered eight hours. Part-time nonexempt associates have their PTO pro-rated based on their standard hours per week.* Vacation - Exempt Associates Exempt associates earn vacation time month-by-month from their date Vacation time can be used after satisfying a 90 day waiting period. Vacation / PTO Buy Although you are not eligible to buy additional vacation or PTO in your year of hire, you may do so during open enrollment each fall for the upcoming calendar year. Holidays Capital One recognizes most major holidays and posts the annual holiday schedule on The One Place each November. Bereavement Leave All full-time associates may take up to three days of paid leave per year for the loss of a family member, relative or someone you consider to be family. Family Care Leave Exempt associates are provided with three family care days each year. A family member can be anyone that you consider to be family. FMLA/Parental Leave The Family and Medical Leave Act (FMLA) provides eligible associates up to 12 work weeks of unpaid, job protected leave for certain family and medical reasons over a 12-month period. It also provides up to 26 work weeks of unpaid, job protected leave in a single 12-month period for military caregiver leave. Additional Parental Leave options are available to eligible new mothers, fathers, and secondary care parents. Sick Leave All associates are granted time off from work when ill. Non-exempt associates utilize their PTO bank for sick leave. Exempt associates work with their managers to take sick time as necessary. Both non-exempt and exempt associates must apply to have their leave certified under Short-Term MIP if out (or anticipate being out) for more than 5 consecutive work days for their own illness or disability. Required Court Appearances Full-time associates receive full pay for time away from work when serving on a jury or making a required court appearance, except when appearing in a civil or criminal case on their own behalf. Military Leave Capital One supports associates in fulfilling military obligations, including granting time off for military training and active duty, and in some cases, providing a pay differential after returning to work. Associates receive make-whole pay when called to active duty due to military conflict, and will pay for up to 11 business days each calendar year to participate in Military Training. FT non-exempt associates are eligible to use PTO after 90 days Non-exempt PTO: 1-4 years: 20 days; 5-9 years: 25 days; 10+ years: 30 days. Includes vacation, Family Care/ Personal Days, and Sick time. In addition to one s PTO bank, full-time associates also have ten fixed holidays recognized across Capital One. PT nonexempt associates with standard hours of at least 20 hours per week are eligible to use PTO after 6 months FT exempt associates are eligible to use PTO after 90 days Exempt PTO: 1-4 years: 15 days; 5+ years: 20 days. PT exempt associates with standard Only eligible to buy vacation/pto during Open Enrollment each fall. PT associates with standard hours of at least 20 hours per of employment, but must enroll at Open Enrollment. FT & PT exempt associates and FT non-exempt associates are paid for the 10 fixed holidays established each calendar year. PT non-exempt associates must work on the holiday to be paid. These may vary slightly by Line of Business; please check with your manager for any changes. FT associates are eligible after 90 days of employment. PT associates are not eligible for bereavement leave. Exempt associates are eligible for three family care days each year after satisfying a 90 day waiting period. To be eligible for FMLA leave, associates must have been employed with Capital One for at least one year and have worked 1,250 hours in the 12 months preceding the leave. FT associates are eligible after 90 days PT associates are eligible after 6 months of employment. FT associates are eligible.except as required by State law, PT associates are not paid for time away from work for jury duty or court appearances. All associates are eligible for Military leave. To be eligible for differential pay for military training or active duty, an associate must be a FT associate enlisted in a branch of the US Military, who has returned to work after being called up for active duty or from having participated in qualified training. PARENTAL LEAVE PROGRAM New mothers who are eligible and approved for FMLA at the time of birth will receive 12 weeks of leave. Short-Term MIP (Disability) pays benefits for up to 8 of these weeks, regardless of the method of delivery. New mothers can also receive 4 additional weeks of unpaid leave to be taken after the child s birth and at the end of their MIP and FMLA leave, for a potential total of 16 weeks of paid and unpaid leave. Birth mothers can substitute remaining Paid Time Off (PTO) or vacation during this time as well. New fathers and secondary care parents who are eligible and approved for FMLA at the time of birth, will receive two weeks paid leave (taken in two 1-week blocks or two consecutive weeks) to take within one year of the child s birth. 2 CAPITAL ONE BENEFITS SUMMARY FOR CANDIDATES 3
FINANCIAL BENEFITS ADDITIONAL BENEFITS Jun, Enterprise Payments: Since joining Capital One a year ago I began using the Flexible Spending Account. It will help me budget my annual benefits spending. Also, the company contributes 50 to my Flexible Spending account for every dollar I contribute, so this will save me money. 401(k) Associate Savings Plan Capital One has a 401(k) retirement plan, provided through Fidelity, which allows associates to make pre-tax or Roth contributions of up to 50% of eligible pay (up to IRS limits). Through this plan, associates receive a 3% non-elective basic contribution regardless of whether you contribute or not, plus a 100% company match on the first 3% of pay that you contribute to the plan and an additional 50% on the next 3% for a maximum match of 4.5%. The total maximum company contribution that you can receive is 7.5% of eligible pay if you contribute at least 6%. Associate Stock Purchase Plan This benefit enables associates to contribute up to 15% of eligible pay to purchase Capital One stock at a 15% discount with no brokerage fees. Health Care & Dependent Care Flexible Spending Account (FSA) This account enables an associate to pay for certain health care costs, such as co-pays, or dependent care costs, such as day care, by making pre-tax contributions that are matched by the company 50% up to $1,000 each year Adoption Benefits The Adoption Reimbursement Program provides guidance and financial support to associates who choose to build their families through adoption. Capital One reimburses a portion of eligible expenses including attorney fees, court costs, licence adoption agency fees and international adoption fees. Educational Assistance Associates can take degree or non-degree academic courses (both undergraduate and graduate) for personal and career growth and Capital One will reimburse 100% of the tuition, books and fees, up to $5,000 per calendar year limit for full-time associates and $2,500 per calendar year limit for parttime associates. Certain programs are offered on a nomination basis. HOW DOES A FLEXIBLE SPENDING ACCOUNT BENEFIT ME? All FT and PT associates age 18 or older are eligible upon date Employer matching contributions are 100% vested after two years of service. 3% non-elective basic contributions and associate elective deferrals are always immediately vested. eligible upon date Active full-time associates are eligible for this program at the time: - the adoption is finalized and - documentation of eligible expenses incurred is provided Flexible Spending Accounts (FSA) allow you to pay for eligible medical, dental, vision or dependent/child-care expenses on a pre-tax basis that are not paid for by our group plans or an outside group plan. One way the Capital One FSA will benefit you is by saving you money via reduced income taxes. The contributions you make to these FSAs are deducted from your pay before your federal, state or Social Security taxes are calculated. The end result is that you decrease your taxable income and increase your spendable income. The other way that FSAs benefit you is through the company contribution. Capital One will match 50 of every $1.00 you contribute to the FSAs, up to a combined (health care and dependent care FSAs) maximum company contribution of $1,000 each year. You are allowed to elect an annual pledge of $50 to $2500 for the Health Care FSA, and $50 to $5000 for the Dependent Care FSA. The annual company contribution counts towards the maximum amount that is allowed to be set aside. Example: Victoria wants to contribute $1,000 to a health care FSA and $4,000 to a dependent care FSA. Victoria s actual total annual contribution to both of these accounts is $4,000 and Capital One will contribute $1,000, making $5,000 total. Flexible Work Solutions Capital One supports, encourages and advocates Flexible Work Solutions when appropriate to specific business and associate needs. Flexible Work Solutions enable associates to sucessfully own, manage and deliver on business and personal commitments. Capital One University Capital One University (COU) is our nationally recognized learning organization, offering more than 600 instructor led courses, over 100 instructor lead virtual classroom courses and over 1,400 elearning programs. Career Development Center The Career Development Center (CDC) can help you define your interests and development goals and take ownership of your career. Associates have access to Career and Skill assessments, One-on-one career counseling, Mentoring, Competency training and more. Mentoring Programs Mentorships enable associates to build skills and knowledge on the job, while building leadership skills for the mentor and enhancing the associate s sense of corporate culture and community. There are a variety of formal and informal mentoring opportunities available at Capital One. Commuter Benefits Allows eligible associates to set aside a portion of his/her paycheck before taxes are deducted to pay commuting expenses. Associates see savings in the form of reduced tax withholding. Eligible associates pay only the cost of their transit or parking. Capital One Discount Program Capital One offers an online Associate Discount Program that provides easy access to hundreds of everyday discounts, including travel, shops, restaurants, and more. Discounts are also available to a designated family members. Associate Networks Associate Networks provide support in the form of programs, resources and tools that enable Capital One s diverse associates to achieve their full potential in an environment that values the differences we bring to the workplace. Capital One invites all associates to participate in the associate networks. Community Service / Volunteer One Program Capital One offers a variety of associate-based volunteer programs to enhance contributions and create meaningful results in the communities where we live and work. As part of the Volunteer One program, Capital One will donate $1 to an eligible nonprofit of choice (up to an annual limit of $300) for every hour volunteered. Matching Gift Program Through the Matching Gifts for Schools program, associate donations to accredited schools are matched dollar for dollar up to $2000 per calendar year. All US associates who have made a donation of at least $25 to a qualified school are eligible for the Matching Gift program. Associates must discuss eligibility requirements with their manager prior to pursuing a flexible work solution. eligible upon date Janet, Audit: I have worked for Capital One for almost thirteen years and have seen firsthand the wonderful opportunities Capital One provides their associates. I am proud to say that for the past two years I have been afforded the opportunity to attend Strayer University. At this point in my life, I wouldn t have taken this leap to obtain my Bachelors Degree without the assistance of this program. My only regret is not leveraging the Educational Assistance Program sooner!! EDUCATIONAL ASSISTANCE When your goal is to further your education, there s no question that Capital One stands ready to support you. Capital One s Educational Assistance Program offers you an annual budget to use for tuition, books and fees at accredited institutions. Depending upon your course of study, you may be reimbursed through the undergraduate or graduate assistance programs. Associates can utilize this benefit to take degree or non-degree academic courses for personal and career growth. 100% of the tuition, books and fees, up to $5,000 per calendar year limit for fulltime associates and $2,500 per calendar year limit for part-time associates will be reimbursed, provided the appropriate grade is received. Certain graduate level programs are offered on a nomination basis, including traditional and executive MBA and certain certificate programs. 4 CAPITAL ONE BENEFITS SUMMARY FOR CANDIDATES 5
* Full-time is defined as having standard hours of 33 hours per week or more. Part-time is defined as having standard hours of less than 33 hours per week. Standard Hours are the number of hours associates are scheduled to work each week, as maintained in Capital One s system of record (Global One). Standard Hours are used to determine benefits eligibility and are maintained by managers in Global One, but may not be reflective of actual hours worked in any given week. The benefits described on these pages apply solely to employees of Capital One in the United States and are subject to the terms and conditions of any plans or policies for such benefits, as may be amended from time to time. 2013 Capital One Financial Corporation Printed on 20% post-consumer recycled content CAPITAL ONE CONFIDENTIAL