Wealth/IncomeAeroVironment offers tools to help you build your wealth and plan for retirement.
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 investment options and financial wellness tools, can be found on www.mykplan.com.
Documents401(k) Safe Harbor Notice 401(k) Automatic Account Rebalancing Brochure 401(k) Rollover Policy In Service Withdrawal 401k Enrollment Guide 401k Summary Plan Description Financial Engines Online Beneficiary Updates Newsletter_2021 2Q
Technology Federal Credit Union
As an employee of AeroVironment, you and your family members are eligible to join the Technology Federal Credit Union (Tech Fed), which provides a wide array of services for a nominal membership fee. Tech Fed is now among the top 1% of the nation’s largest credit unions with seven full service branches in the Silicon Valley. Tech Fed is affiliated with other credit unions to make these benefits more accessible to you. To find associated branches, visit www.techcu.com.
Paychecks are distributed every two weeks on Friday. Pay is for the two week period ending the Saturday before your check is distributed. You have the option to elect direct deposit and you will have access to the Paychex website for easy viewing of your paystubs. View your paystubs at eservices.paychex.com.
To adjust your wage withholding, please complete a new DE 4 and W-4 and submit to your local payroll department.
DocumentsDirect Deposit Form (payroll) Direct Deposit Form (expense) Paycheck Access Federal W4 CA State Tax withholding D4
LifeLock is a leader in identity theft protection services. Their focus is on helping you protect your identity—to help keep you safer—in an always connected world.
AeroVironment employees will have a choice of two LifeLock options, Benefit Elite and Ultimate Plus. Both options include the following 3 Layers of Protection:
• Detect – LifeLock searches over a trillion data points looking for potential threats to your identity.
• Alert – The patented LifeLock Identity Alert System will let you know about suspicious activity by text, phone or email.
• Restore – If you become a victim of fraud, an Identity Restoration Specialist handles your case every step of the way.
LifeLock Benefit Elite helps protect your identity along with your nest egg and includes scanning for misuse of your 401(k), Social Security Number, change of address and court records, and 3 Layers of Protection.
LifeLock Ultimate Plus provides the services of Benefit Elite plus bank account application and takeover alerts, online credit reports and credit scores, and the 3 Layers of Protection.
DocumentsLifeLock Membership Election Form
Momentum onUp is here to help you learn more about managing your money and building financial confidence — no matter where you are in life! It’s free, fully confidential, and it starts with what matters most to you. Learn how to eliminate debt, improve your credit score, plan for retirement, buy or sell your home, invest and much more — all without giving up the things that bring you joy. Get one-on-one phone counseling with an expert financial advisor, access helpful online planning tools, and sync your accounts for budgeting made easy! Click the documents below to learn more.
DocumentsMomentum onUp Informational Flyer Momentum OnUp Sign Up Info
Mutual of Omaha | Accident
Mutual of Omaha’s Accident 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. Benefits are paid according to a fixed schedule that includes benefits for specified accidents, x-rays, treatment by a physician, treatment received in a hospital room, ambulance, follow-up treatment, rehabilitation, lodging, transportation, and more. On the High plan an additional wellness benefit includes coverage for screenings and procedures such as well visits, mammography, colonoscopy, pap smear, PSA, serum cholesterol test and many more. You must be enrolled in a major medical plan for yourself and your covered dependents in order to elect this plan. Age restrictions apply.
DocumentsVoluntary Accident Summary Accident Claim Form Accident Health Screening Benefit Claim Form
Mutual of Omaha | Critical Illness
Mutual of Omaha’s Critical Illness Plan will provide a lump sum benefit payment upon the first and second diagnosis of any qualified Critical Illnesses. Covered conditions include cancer, heart attack, stroke, heart failure, coronary arteriosclerosis, organ failure and kidney failure. Benefits are paid directly to you, and funds can be used under your discretion for things such as childcare, transportation and to fill in gaps in your medical plan, like co-pays and deductibles. Benefits are paid even if medical insurance is paying 100% of the cost. Please note, you must be enrolled in a major medical plan for yourself and your covered dependents in order to elect this plan. Age restrictions apply.
DocumentsVoluntary Critical Illness Summary Critical Illness Form Express Benefit Form Health Screening Form
Mutual of Omaha | Voluntary Short Term Disability
AeroVironment 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 25 weeks. This plan pays in addition to any state disability programs (if applicable) an additional 30% of your pre-disability earnings up to a maximum benefit of $2,500 per week. If you reside in a state which does not have mandated state disability coverage, your benefit level under this plan would be 60% of your pre-disability earnings, up to $2,500 per week.
Mutual of Omaha | Long Term Disability
AeroVironment provides you with Long Term Disability (LTD) as 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 180 days after the onset of your disabling injury or illness.
DocumentsVoluntary Short-Term Disability Summary CA & NY Employees Voluntary Short-Term Disability Summary Non CA & Non NY Employees
Mutual of Omaha | Basic Life and AD&D
Life insurance protects your family or other beneficiaries in the event of your death while you are still actively employed with the company. AeroVironment pays for coverage, offered through Mutual of Omaha, in the amount of 1 times your annual salary to a maximum benefit of $50,000. 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 your initial eligibility period (upon hire). Guarantee issue is available in the following amounts:
Employee = 7 times your annual salary to a maximum of $250,000
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
If you are no longer in your initial eligibility period, you may enroll in Voluntary Life and AD&D insurance anytime during the year as long as you provide proof of good health. To provide proof of good health, you will be asked to complete a health questionnaire and are subject to insurance carrier approval. Mutual of Omaha may approve or decline coverage based on a review of your health history.
DocumentsMutual of Omaha Evidence of Insurability Form Mutual of Omaha Voluntary Life Insurance Mutual of Omaha Voluntary Life Rate Sheet
Unum | Long Term Disability Care
AeroVironment provides you the opportunity to purchase Long Term Care insurance at discounted group rates, through Unum. Long Term Care provides resources that might be needed when your or an eligible family member requires help with two or more activities of daily living or when suffering a severe cognitive impairment.
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. Benefits are portable upon separation from the company.
Contributions are determined based on the coverage you elect and your age at enrollment. Once you are enrolled, your contributions will not increase as you age or if a claim is filed.
For More Information or To Enroll
Call 800.227.4165 or visit http://www.unuminfo.com/aerovironment/enrollment.aspx
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, Transferring.
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.