Benefits
Award-Winning Benefits
Employee Ownership Makes a Difference
Torch offers the traditional benefits, such as medical and dental insurance, but other unique benefits as well. Torch provides its employees with a comprehensive set of health care and retirement benefits, one we consider superior to those offered by other companies in the industry. In fact, Torch was recognized by the Principal Financial Group as one of the “The Principal 10 Best Companies for Employee Financial Security” in a national competition of small businesses based on an assessment of company benefit and retirement plans.
Being an employee owned company, we also offer benefits atypical for our industry. For example, Torch provides employees free access to a certified financial planner that includes a series of financial planning-oriented seminars. Employees can borrow up to 40 hours of Paid Time Off, with additional amounts with manager approval. We also allow employees to donate their own Paid Time Off to other employees in times of need. All regular employees are eligible for bonuses each year, and we have a mid-year merit cycle review to provide extra opportunities for pay raises for employees whose salaries warrant adjustment. Additionally, all employees are eligible for Stock Appreciation Rights.
Financial Security For You and Your Loved Ones
Retirement Benefits
Retirement plans consist of a 401(k) Plan, including a Roth option, and an Employee Stock Ownership Plan (ESOP). Torch offers a generous contribution to our employees’ retirement with annual contributions significantly above industry averages.
Income Protection
Torch provides short-term disability (STD) and long-term disability (LTD) insurance plans to maintain a stable income level in
case of disability.
Flexible Spending Account
For certain dependent care expenses and health expenses not reimbursed by insurance programs, employees may enroll in the flexible spending program (FSA), which allows expenses to be
paid with pre-tax dollars.
Life Insurance
Includes company-paid term life, basic accident and business
travel insurance.
Employee Owner Health and Well-being
Medical Benefits
Major medical benefits provided under our group plan are provided by Blue Cross/Blue Shield. Benefits include medical care and prescription drug coverage. Torch offers three medical plan options, including a PPO Plan, a High Deductible Plan coupled with a Health Savings Account (HSA), and a cash-in-lieu-of-benefits option for those employees who have health coverage elsewhere.
HealthMiles Program
Torch participates in the Virgin HealthMiles program through Horton Health Initiative. Features include a GoZone pedometer plus
up to $500 per year in rewards for getting active and tracking
your progress.
Dental Benefits
Coverage offered includes preventive, basic, and major services, including orthodontia.
Vision Benefits
Exams, glasses, and contact lenses are covered.
Enabling Work-Life Balance
Paid Time Off and Holiday Pay
Paid Time Off can be used for vacation, personal business or
short-term illness. In addition, employees receive paid holidays
and can defer holidays as well.
Bereavement Leave
Torch provides leave for bereavement, military duty, and jury duty.
Providing for Professional Development
Education Assistance
For eligible employees, Torch offers an education reimbursement plan that includes tuition and fees for colleges, as well as continuing education courses and certifications.
Interest-Free Computer Loans
For eligible employees, Torch offers a loan program allowing employees to purchase a home computer and re-pay through interest-free paycheck deductions.