What are my benefits options?
Lithia Benefits Mission Statement
It is the mission of Lithia Motors, Inc. to partner with its team members in providing a benefit package that helps to provide financial security in the event of an illness or accident. This partnership will empower team members with personal responsibility in choosing alternatives.Lithia's Long Term Goals
- Focus on health and welfare, provide good health benefits for employees and their families
- Provide multiple benefit choices for employees and their dependents
- Focus on preventive care services
- Create more stable medical plan over the long term
Lithia’s IRS based Cafeteria Plan is the umbrella that all Lithia insurance is governed by. Most employees’ insurance premiums are automatically paid pre-tax. By utilizing the programs available in the plan, employees pay less tax on the money they earn.
Employees are eligible to participate in all benefits the first day of the first month following 90 days of continuous full-time employment.
Employees may elect to contribute to reimbursement accounts which set aside "pre-tax" dollars for dependent care or out-of-pocket medical, dental, and vision expenses. Employees pay eligible expenses directly to the provider and then are reimbursed from their account.
Health Care Benefits
Medical, Dental and Vision Insurance
All eligible employees have the option to enroll in Lithia’s group medical plan, of which Lithia contributes to the cost of the monthly premium. Voluntary benefits including Dental and Vision are meant to supplement your Lithia medical benefits, giving you additional protection that you and your family may need. Services performed by the plan’s network of providers qualify for maximum benefit. Services performed by a non-participating provider are eligible for payment at a reduced benefit level.
Your Personnel Coordinator or Hiring Manager can provide you with more detailed information on the coverage levels offered through these benefits plans.
Disability and Survivor Benefits
Short and Long Term Disability Insurance
Under the Short Term Disability Plan, employees receive a Lithia paid base benefit for a maximum of 26 weeks in the event of absence due to illness, injury, or disability. For additional coverage, employees may elect to supplement the base amount with one of four available buy up options. Employees may also elect to participate in the Long Term Disability supplemental insurance plan.
Under the Basic Life Insurance Plan, employees receive a Lithia paid group term life insurance policy and an accidental death and dismemberment policy. For additional individual or family coverage, employees may elect to supplement the base amount with one of the available buy up options.
Retirement and Investment Benefits
Employees may elect to contribute to a tax-deferred retirement savings plan. Employees may contribute from 1% to 85% of gross pay up to the annual maximum.
The plan offers many investment options, ranging from conservative to aggressive. Investment allocation can be changed at any time.
Full-time and regular part-time employees over 18 years of age are eligible the first day of the first month following their date of hire.
401(k) Plan Employer Match
Annual employer matching contributions may be made to participating employees’ 401(k) accounts. Contributions when made are done at the end of the plan year. Participants must be employed on the last day of the plan year to receive a contribution.
Employee Stock Purchase Plan
Employees may elect to participate in Lithia’s Employee Stock Purchase Plan (ESPP). The plan provides an opportunity to purchase Lithia’s common stock at 85% of the closing price on the last business day prior to the last day of the quarter. Employees may contribute from 1% to 10% of gross pay.
Employees over 18 years of age and working at least 20 hours per week are eligible for the plan. Employees are eligible to participate the first day of the first quarter following 90 days of employment.
Vacation and Holidays
Employees are eligible for vacation and holidays based on employee status and years of service.
Employees are eligible for discounts on parts and accessories, vehicle detail packages, and service agreements as well as new vehicles.
Lithia Motors Inc. is an Equal Employment Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, national origin, gender, age, religion, disability, sexual orientation, veteran status, or marital status. Lithia Motors is an at-will employer.