Wealth/Income

The 401(k) Plan allows employees to defer present income for future retirement use by electing a traditional pre-tax 401(k) or a Roth after-tax 401(k). Employees may join the plan upon hire. AeroVironment will make a Safe Harbor Matching Contribution each pay period to the Plan in the amount of 100% of the amount you contribute, up to a maximum of 5.75% of compensation that you defer into the Plan during the Plan Year, subject to relevant IRS limitations on total 401(k) contributions, which change annually. To be eligible for Safe Harbor Matching Contribution, you must make 401(k) contributions to the Plan. The Safe Harbor Matching Contribution will be fully vested and not subject to forfeiture.

There are a variety of investment options that you may select including bond, stock, money market and balanced retirement funds. Further information regarding the Plan and any requirements and limitations will be outlined in the AeroVironment Inc, Profit Sharing and Salary Deferral 401(k) Summary Plan Description. Additional information, including forms, investment options and financial wellness tools, can be found on www.mykplan.com.

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Paydays occur every two weeks on Friday. Pay is for the two week period ending the Friday before your check is distributed. Through the Workday portal you have the ability to view pay stubs, add/change direct deposit account information and update federal and state tax withholdings. For additional support, please review the Employee Self-Service Job Aids that are available on the Workday homepage.

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Norton identity theft protection services focuses on helping you protect your identity and to help keep you safer in an always connected world. They offer 3 layers of protection: Detect, Alert and Restore. Employees will have a choice of two LifeLock options, Benefit Essential and Benefit Premiere.

Eligibility: All active full time regular employees and eligible dependents. Children under the age of 18 will receive a product designed specifically for minors, LifeLock Junior® service. LifeLock Junior membership is available as an added membership to an adult LifeLock plan.

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Mutual of Omaha | Accident

AV offers High and Low Accident plan options through Mutual of Omaha. Accident insurance offers financial protection for You and Your insured Dependent(s). The plan will pay you a benefit to help cover your out-of-pocket medical costs in the event of an accident. For covered accidental injuries, fixed benefits are paid directly to you, regardless of any other coverage. The benefit amount(s) payable is/are based on the type and amount of insurance in effect on the date the Accident occurs. All benefit payments are subject to the definitions, limitations, exclusions and other provisions of the Policy.

Eligibility: Active full time regular employees and spouses. Dependent children up to the age of 26 unless otherwise required by law due to disability.

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Mutual of Omaha | Critical Illness

Mutual of Omaha’s Critical Illness Plan will provide a lump sum benefit payment upon the first and potentially second diagnosis of any qualified Critical Illnesses. Covered conditions include cancer, heart attack, stroke, heart failure, neurological movement disorders, organ failure and kidney failure. Benefits are paid even if medical insurance is paying 100% of the cost. Additionally, included in this plan is an annual payment to covered individuals for “Be Well Screening Tests”. Evidence of Insurability is not required. Benefits are $5,000 to $50,000 in $5,000 increments.

Child Coverage: Coverage is automatic for eligible dependent children up to age 26 (a separate election is not required). Coverage is up to 50% of employee benefit, up to $15,000.

Eligibility: All full time, regular employees. Please note, you must be enrolled in a major medical plan for yourself and your covered dependents in order to elect this plan.

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Mutual of Omaha Group Number: G000AXG7

Mutual of Omaha | Long Term Disability AV offers you Long-Term Disability (LTD) at no cost to the employee. This coverage provides income replacement if you become disabled for an extended period of time, through Mutual of Omaha. If you meet the definition of disability under the plan, there is an elimination period before benefits are payable. Your benefits under this plan would begin 90 days after the onset of your disabling injury or illness. The LTD benefit will cover 60% of your monthly pay up to a maximum of $10,000. LTD works with state disability programs, Social Security, and any other group disability coverage, to provide you with a combined monthly benefit.

Mutual of Omaha | Short Term Disability AV offers you Short-Term Disability (STD) at no cost to the employee. This coverage provides a benefit up to 60% of your earnings, through Mutual of Omaha. If you meet the definition of disability under the plan, there is an elimination period before benefits are payable. Your benefits under this plan would begin 7 days after your injury, illness, or pregnancy. The STD benefit will cover 60% of your monthly pay up to a maximum of $2,000 per week for a period of 12 weeks. STD works with state disability programs, Social Security, and any other group disability coverage, to provide you with a combined monthly benefit.

Mutual of Omaha | Short Term Disability Buy Up AV offers you the opportunity to purchase Voluntary Short-Term Disability (STD) income replacement at discounted group rates, through Mutual of Omaha. If you experience a temporary disability, benefits begin 7 days after the start of your accident, sickness or pregnancy and will continue up to a maximum of 12 weeks. This plan pays an additional 10% of your pre‐disability earnings. Combined with the AV paid STD plan, employees receive up to a maximum benefit of $3,000 per week. Not recommended for employees who reside in states that provide worker short term disability. For example, California.

Eligibility: All full time regular employees.

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Mutual of Omaha | Basic Life and AD&D Basic Life is company provided life insurance through Mutual of Omaha at no cost to the employee. Employees will receive 1 x their basic salary up to $600,000. Employees will receive an equal amount of AD&D to their Basic Life Insurance coverage. If your death is due to a covered accident or injury, your beneficiary will receive an additional amount through Accidental Death and Dismemberment (AD&D) coverage. 

Mutual of Omaha | Voluntary Life and AD&D In addition to the company provided Basic Life and AD&D benefits, you may elect to purchase additional Term Life and AD&D insurance at discounted group rates provided by Mutual of Omaha. If elected, you pay for this coverage with after-tax dollars through convenient payroll deductions. You have the option to elect Accidental Death & Dismemberment (AD&D) for yourself, your spouse, and your dependent child(ren). If coverage is elected, the Principal Sum Amount is equal to the amount of the life insurance benefit. AD&D coverage is available if you or your dependents are injured or die as a result of an accident, and the injury or death is independent of sickness and all other causes. The benefit amount depends on the type of loss incurred and is either all or a portion of the Principal Sum. Guarantee issue is a pre-approved amount of coverage that does not require you to provide proof of good health and is available to you during the 2026 Open Enrollment. Guarantee issue is available in the following amounts: Employee = $300,000, Spouse = 100% of employee benefit up to a maximum of $50,000 Child(ren) = 100% of employee benefit up to a maximum of $10,000. Employees may enroll in an amount above the Guarantee issue up to $1,000,000 for themselves and $250,000 for spouse. Any amount over the guaranteed issue and/or any requests for any dollar amount outside of New Hire or the 2026 Open Enrollment will require the completion of an Evidence of Insurability (EOI) form with MOO and is subject to underwriting.

Complete the EOI online here:EOI Form  AV Group number: G000AXG7

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Unum | Long Term Disability Care AeroVironment provides you the opportunity to purchase Long Term Care insurance at discounted group rates, through Unum.  

What is long term care? It is the type of care you may need if, due to an accident or serious illness, you are unable to perform, without Substantial Assistance from another individual, two or more Activities of Daily Living such as: Eating, Bathing, Dressing, Toileting, Continence, or Transferring.  Plan options are available that provide monetary assistance for nursing and residential care facilities, community-based and immediate family member care. 

Your plan can be purchased at a flat rate of coverage or with an inflation writer. You will not be subject to underwriting if you enroll within 30 days of your hire date. Contributions are determined based on the coverage you elect and your age at enrollment.

How does this coverage Help? Long term care provides benefits to help you pay for care provided by: 

You can learn more about coverage for you and your eligible family members by visiting your Unum info-site: http://www.unuminfo.com/aerovironment/index.aspx To enroll in coverage, please fill out all applicable forms on the info-site, turn in forms to your People & Culture team, or mail to the address indicated on the form. If you have questions about your coverage, please contact: Unum Customer Service at 800-227-4165.

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AV offers employee paid legal coverage through ARAG. ARAG legal insurance makes it affordable to get the legal help you need: network attorney fees are 100% paid-in-full for most covered matters. Benefit from a wide range of coverage and services to protect you and your loved ones and better navigate life’s legal challenges. Members can also access a nationwide network of thousands of attorneys who can review and prepare legal documents, as well as provide legal counsel and representation.

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AV offers you pet insurance through Nationwide. You care about your pets and consider them members of your family. Whether your family includes kids with two feet or kids with four paws - or both - you know what responsibility looks like. My Pet Protection through Nationwide offers choice of 50% or 70% reimbursement options so you can find coverage that fits your budget. All plans have a $250 deductible and $7,500 maximum annual benefit.

To enroll in this benefit, visit here and you will be led to a landing page where you can enter information about the pet, you'd like to get an insurance quote for.

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