Benefits

The Dime Bank pays 100% for vision insurance for all its full-time employees. Dependent coverage is available at the employee’s expense. Vision coverage is also available to part-time employees and their dependents. When you or your eligible dependents use a participating provider, you will receive up to full coverage of routine eye examinations, lenses, frames, and contacts subject to maximum reimbursements.

The Dime Bank is pleased to partner with you and Fidelity Investments in providing for your retirement. Our 401(k) plan offers you the convenience of auto enrollment for eligible employees following hire with a deferral rate of 5% unless otherwise directed. The Bank provides a Safe Harbor matching contribution on your behalf at a rate of 100% of the first 3% and 50% of the next 2% deferred following six (6) months of service. The bank may also make a discretionary profit-sharing contribution as provided by the plan and is determined at the end of each calendar year. Historically, this contribution has been between 1% and 4%.

PTO offers a flexible approach for your time off needs. The objective of the paid time off program is to minimize unplanned absences, and at the same time better accommodate the planned time off needs of The Dime Bank employees. PTO empowers you to be responsible for your time, and it helps the Bank reduce disruptive unplanned absences. PTO provides you with a block of time for your personal use, based on your length of service and organizational level. New full-time employees will immediately begin to accumulate PTO equivalent to 16 days per year. New part-time employees will immediately begin to accumulate PTO equivalent to 2 weeks per year. After 6 years, PTO accruals increase to a rate equivalent to one additional week of time per year.

The purpose of VTO is to support volunteer activities that enhance and serve the communities in which we live and work. This program is intended to create opportunities for employee engagement in the community that are meaningful, purposeful and will also help those in need. It is also recognized that, by participating in these activities/events it will deepen the bank’s roots within the community. Full-time employees receive 8 hours per year and part-time employees receive 4 hours per year.

The Bank provided the following paid holidays to all full and part-time employees:
New Year's Day, Martin Luther King Jr. Day, Presidents’ Day, Good Friday (one-half day), Memorial Day, Juneteenth Day, Independence Day, Labor Day, Columbus Day, Veterans' Day, Thanksgiving Day, and Christmas Day.

In the event that a full-time employee is unable to work because they are medically disabled beginning on the 8th day of disability. Short-term disability coverage will be paid upon approval from an insurance carrier at a rate of 70% of the employee's average hours worked 4 weeks prior to disability. Eligible employees medically disabled for more than 12 weeks are eligible to apply for long-term disability benefits on the basis of 60% of basic monthly earnings. Long-term disability benefits continue to age 65 or until your disability ends as defined in the contract.

The Dime Bank pays for group term life insurance benefits, with an accidental death and dismemberment (AD&D) feature, for all full-time employees. The amount of insurance is calculated at two times the employee's current salary up to a maximum of $100,000 of life insurance. This is a term insurance policy and has no cash surrender or paid-up insurance value. Optional employee, spouse and dependent life insurance is available at a cost to eligible employees.

As an employee of The Dime Bank, you are eligible to participate in the Flexible Spending Account Plan. A Flexible Spending Account enables you to set aside dollars from your paycheck on a pretax basis for your eligible out-of-pocket medical, dental, and vision expenses. These include but are not limited to office visit co-pays, prescription drug co-pays, dental, and orthodontia expenses. The maximum amount you may defer is $3,050 per plan year.

Dime Bank employees have the opportunity and convenience to purchase AFLAC insurance through payroll deduction. AFLAC policies pay cash benefits directly to you if you get sick or hurt. The money can be used to help pay for lost wages, out of pocket medical expenses, and everyday living expenses. All benefits are portable, and rates never increase. Plans include:

The ESPP is a convenient opportunity for all eligible employees to set aside funds, through payroll deduction, for the purchase of Dimeco, Inc. common stock without having to engage or pay a broker. Employees may elect to participate each June 1st and December 1st and have payroll deductions between 1% and 10% taken on an “after tax” basis for each subsequent payroll the following six months. Stock purchases will be calculated at 5% discount on each subsequent May 31st and November 30th. Employees may make one increase/decrease to their payroll deduction in each offering period as defined in the plan document and account statements are sent after each stock purchase to summarize the transaction.

In addition to the benefits listed above, The Dime Bank provides the following: