The Apache Retirement Plan is a defined contribution plan that is designed to provide income for your retirement.
Apache will contribute 6% of your annual salary, overtime, and annual bonus to your retirement plan each year. You are not able to contribute to the Retirement Plan.
You may contribute a percentage of your eligible annual pay to the Plan. The contribution is made before income taxes.
Company Matching Contributions
Apache matches every dollar you invest up to 8% of annual earnings.
Apache may award you equity at the end of the year. The equity is typically awarded annually, with the amount of the award determined by level in the company and performance.
Employees have the choice of four different Medical Coverage options:
Apache Saver Plan - High deductible plan with a health savings account option
Apache Basic Plan - Traditional PPO with higher deductible and out-of-pocket maximums
Apache Gold Plan - Traditional PPO plan
Apache Frontier Plan - Out of network plan
Prescription Drug Coverage
By participating in any of Apache's medical plans, you also receive the retail and mail-order prescription drugs benefits.
A traditional dental plan is offered. You may select the dentist of your choice.
Apache provides a managed care vision plan that offers in-network and out-of-network benefits. All employees receive one, free eye exam per year.
Flexible Spending Accounts
Apache offers both health care and dependent care flexible spending accounts that allow employees to set aside pre-tax dollars each year for health care and dependent care needs. Pre-tax limits are set by the IRS.
Health Savings Account
Apache offers an HSA in conjunction with the Apache Saver Plan to help cover qualified medical expenses.
A retiree medical plan is available for Apache’s early retirees and their eligible dependents. Initial eligibility commences at age 55 for employees with at least five years of continuous service. Eligibility ends at age 65, or the Medicare eligibility date, if later.
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