Employee Benefits

Insurance
Life and LTD insurance benefits are provided at no cost to the employee. Medical, dental and vision insurance is available at market rates. The employee's eligible family members may also be covered under the medical, dental and vision plans at a slightly higher cost.

Medical
Medical, dental and vision coverage begins on the first day of the month following or coinciding with the 30th day of employment. Medical Plans offered:

• Preferred Provider Organization (PPO) plan, a health care organization composed of physicians, hospitals, or other vendors providing health care services at a reduced fee and,
• A Health Savings Plan (HSP) which includes a Health Savings Account (HSA). The HSA is an account that allows you to put money aside and reimburse yourself for medical expenses on a tax-deductible basis. Unspent funds accumulate tax-free and roll over from year-to-year. (There is no "use it or lose it" rule as with flexible spending accounts.)

• After you meet the annual deductible, the PPO pays a percentage of the cost of care (80%) and you pay the remaining percentage (20% coinsurance).
• Annual deductible - $1000 Employee only/$3,000 Family
• Physician Home and Office Services - $20 copay
• In-network preventive care is covered at 100%
• Network Retail Pharmacies (30-day supply) - $10/$20/$30
• Rx Direct Mail Service (90-day supply) - $10/$50/$90

• After you meet the annual deductible the Health Savings Plan pays 100% of in-network services
• Annual deductible - $2,000 Employee only/$4,000 Family
• In-network preventive care is covered at 100%

Vision
The vision benefit provides $40 for exams, $45 for frames, and $80 for lenses within any 24 month period.

Dental
The dental plan coverage provides 100% reimbursement of reasonable and customary expenses for all preventative services, i.e., x-rays, cleaning of teeth, and oral examinations. After a $25 per person deductible, the plan pays 85% of reasonable and customary expenses for such services as fillings, extractions, and periodontal services, and 50% of reasonable and customary expenses for bridges, dentures, or crowns, up to a $2,000 per year per covered person limit. The orthodontic benefit pays 50% of charges up to a lifetime maximum of $1,200 per person.

Life
Life insurance coverage becomes effective on the 91st calendar day of continuous service. Group term life insurance is provided in an amount equal to twice the employee's annual salary. The employee may also purchase dependent coverage.

Accidental death insurance covers employees while traveling on FHLBI business as follows: exempt (salaried) employees, $500,000; non-exempt (hourly) employees, $250,000.

Disability
If an employee is disabled more than 90 days, this plan pays 65% of the employee's salary, up to age 70. The benefit is reduced by amounts received from Social Security, workers' compensation, and / or
retirement disability.

Flexible Spending Accounts (FSA)

Medical FSA
This tax-advantaged plan lets you pay for certain expenses not covered under the medical, dental, or vision plan, such as deductibles and co-payments.
A Medical FSA cannot be combined with a Health Savings Account (HSA).*

Health Savings Account
A Health Savings Account, or "HSA," is an employee-owned, tax-advantaged savings and investment account to pay for health care expenses both now and after retirement.
The HSA is only available if you enroll in the Health Savings Plan (HSP) option.

Limited FSA
A Limited FSA is a new money-saving option available only to employees who are enrolled in the Health Savings Plan option with a health savings account.
Expenses are limited to dental and vision care services/products that meet the IRS guidelines.*

Dependent Care Account
This account offers you a tax break on your expenses of caring for your children or disabled spouse or parent while you work.
A Dependent Care FSA does not affect your eligibility for an HSA. You can have both accounts without creating any conflict of benefits.*

*Use it Or Lose It Rule - Any money you do not spend in your account at the end of the year is forfeited.

Employee Assistance Program (EAP)
All regular employees and family members are covered under this program at no cost to the employee. It provides employees and family members a resource for help when faced with personal problems.

Thrift / 401(k) Plan
The first of the month following hire an employee may elect to contribute to the FHLBI's Thrift Plan. The FHLBI matches 100% of the employee's contributions up to 6% of basic salary. The plan includes a tax-deferred 401(k) feature that includes a Roth 401(k) option.

The employee is immediately vested in the Thrift Plan account from the day of enrollment. The plan provides for rollovers from other qualified IRS plans, withdrawals, and also has loan provisions. Amounts contributed to the plan are invested in the employee's choice of various investment funds.

Vacation / Holiday / Sick Days
All regular employees are entitled to earned vacation leave. Vacation leave is accrued and credited biweekly based on the biweekly factor appropriate to the employee's status and years of service. The following schedule outlines the manner of accruing vacation leave for full-time employees.

Part-time employees accrue leave on a prorata basis.

All full-time and part-time employees are eligible for the ten paid holidays provided by the Bank.

Sick time is provided for all employees and is accrued for non-exempt staff based on the employee's status and years of service.

Educational Assistance
FHLBI offers full-time employees reimbursement for educational courses provided by accredited institutions after the employee has completed six months' service. Tuition, textbooks, student parking, and most other normal expenses are reimbursed up to 100% of cost up to the annual cap when the student receives a grade of C or better.

Equal Employment Opportunity
FHLBI is firmly committed to a policy of equal employment opportunity and will administer its personnel policies and conduct its employment practices in a manner which treats each employee and applicant for employment on the basis of merit, experience, and other work-related criteria without regard to race, color, religion, sex, age (except where sex or age is a bona fide occupational qualification as defined by law), national origin, sexual orientation, gender identity, genetic information, mental or physical disability (except where the disability prevents the individual from being able to perform the essential functions of the job and cannot be reasonably accommodated in full compliance with the law), status as a parent, or status as a Vietnam-era or special disabled veteran.
> President's Policy Statement on Equal Employment Opportunity

Employee Incentive Plan
We have an employee incentive plan designed to create a total organizational commitment to producing results beyond what would normally be expected. If normal expectations are exceeded, employees share in those financial gains.

Dress Code
The dress code is business casual.

Updated: February 2, 2012