PRE-TAX SAVINGS PLAN (THE 401(K) PLAN)
After completing one month of service, DLO employees may invest up to 35% of their pre-tax income in any one, or a combination of over 15 available, investment options with Fidelity Investments. The available options include investment funds, lifecycle funds, and a company stock fund. After 12 months of service, the company matches employees' contributions, dollar for dollar, up to 6%. This match is non-forfeitable, i.e., fully vested, at all times
EMPLOYEE STOCK PURCHASE PLAN (ESPP)
DLO employees may purchase Quest Diagnostics Incorporated stock each calendar quarter, at a cost of 85% of the market price at either the beginning or end of that quarter, whichever is lower. From each paycheck, a minimum of $10 and a maximum of 10% of the employee's pay may be invested. Through a quarterly enrollment, The ESPP is available to employees regularly scheduled to work at least 20 hours per week. Dividends paid on purchased stock are automatically reinvested.
VARIABLE COMPENSATION PLANS
Through the Company’s Goal Sharing Plan, employees are recognized and rewarded for the continuous improvement of their organization. This plan is paid via direct deposit once annually to all eligible regular full time, part time and on call employees with more than six months of service. Eligible earnings do not begin to accrue until after six months of service. Management Incentive Plan (MIP) eligible employees and sales personnel participating in variable compensation plans are rewarded under separate incentive compensation plans. Details of these plans are outlined in the relevant plan.
FLEX SPENDING ACCOUNT
Employees use an FSA to set aside (through pre-tax payroll deductions) up to $5,000 per account for expenses related to eligible health care or dependent/child care. Employees regularly scheduled to work at least 30 hours per week are eligible to participate in these accounts after one month of employment.