Benefits Available to Part-Time Employees
Frito-Lay is committed to becoming a great place to work and grow. As part of our package for Part Time associates, we offer the opportunity of an exciting career, competitive pay and also some benefits that are available to you. This handout contains the key information on these benefits. All this information can be found on http://www.pepsicoemployee.com/
PEPSICO 401(k) PLAN
If you are classified as a Part-Time Employee (defined below), you must be credited with 1,000 hours of service during a 12-month measuring period. The first 12-month measuring period begins on the day you perform your first hour of service. Thereafter, the 12-month measuring period is the calendar year.
A Part-Time Employee can begin participation in the Plan on the January 1 or July 1 following completion of eligibility service as described above.
How does it work?
Based on your years of service, Frito-Lay will match your contribution 50c on every dollar you contribute up to certain limits. The Company match is as follows:
Your years of vesting service
You contribute up to
The Company gives you 50c on each dollar you contribute, which adds:
You can contribute up to 50% of your pay into the 401(k) plan subject to annual dollar limits — $15,500 in 2008. If you contribute more than the 4%, 6% or 8% shown in the chart above, you will be saving more for your retirement, but the company will not match that additional amount. The Company Match mirror the way you diversify your employee contributions (in other words, the match is no longer in PepsiCo stock - effective 1/1/08).
You are “vested” in the Company Match if you have at least 3 years of vesting service. To enroll, go on line at http://www.401k.com/ or call Fidelity at 1-800-632-2014. You can sign up at any time and you can change your contribution amounts on a weekly basis.
In addition, if you participate in the 401(k) plan, you are also eligible to use Financial Engines TM. Financial Engines TM is an online tool that will help you reach your retirement goals. To access it, look for the link on the top right hand side of the screen when you enter your 401(k) account through http://www.401k.com/
A pension from PepsiCo is an important benefit that can help you make the most of your retirement years. Add Social Security, any benefits payable from other PepsiCo plans as well as personal savings, and you have the formula for a sound financial future.
The best part about your pension benefit is that it is provided to you at no cost. Unlike a 401(k) retirement plan, you do not have to contribute any of your current compensation to receive a pension. There are no payroll deductions from your pay check and there are no out-of-pocket costs to pay. PepsiCo contributes amounts on your behalf to the Plan for your exclusive benefit in accordance with Federal tax law
The date you enter into the Plan and become a participant depends on the number of hours you initially work as an Hourly or Commissioned Employee. If you perform at least 1,000 hours of employment in your first year of service (12-month period beginning with your date of employment as an Hourly or Commissioned Employee), you automatically become a participant in the Plan on the January 1st or July 1st (whichever is earlier) that is coincident with or next follows:
- your becoming age 21, and
- the first anniversary of your date of employment as an Hourly or Commissioned Employee.
If you do not perform at least 1,000 hours of employment in your first year of service, you become a participant in the Plan on the January 1st that follows:
- your becoming age 21, and
- the close of the calendar year in which you perform at least 1,000 hours of employment as an Hourly or Commissioned Employee.
PepsiCo Stock Purchase Plan (PSPP)
The PepsiCo Stock Purchase Program allows you to purchase shares of PepsiCo Capital Stock conveniently through payroll deductions and without brokerage commissions or other service charges on stock purchases or dividend reinvestments. The program is administered by Fidelity Investments.
Eligibility & Enrollment
- This program is available to full-time and part-time employees who are on a U.S. payroll who are U.S. citizens, green card holders or residents age 18 or older.
- To enroll in this program call the PepsiCo Savings & Retirement Center at Fidelity:
- For U.S. citizens, green card holders or residents: 1-800-632-2014.
- You also can enroll online by logging onto: www.401k.com.com
HealthRoads gives associates and their families tools, resources and advice to help them on their personal journey to wellness - whether it’s improving their health or sustaining the good health they already enjoy. HealthRoads is tailored to associates and their families’ specific needs.
PT associates are eligible to use the website content, tools, and online programs. In addition PT associates can participate in the raffles, as well as other fitness and nutrition programs. PT associates are not eligible for other HealthRoads incentives including cash and the phone-based coaching.
- All employees are eligible to receive a 20% discount from LensCrafters on materials (not eye exams or disposable contact lenses).
- All you need to do is show your Company identification (e.g., ID card, pay stub) to receive this discount
- This discount cannot be combined with special retail offers such as sales or coupons
- Disposable contact lenses are not discounted
- There is a 15% discount on conventional contact lenses
Contact Lens Replacement Program
- The Contact Lens Replacement Program allows you and your family to get replacement contact lenses and lens care products from 1-800-Contacts at discounted prices
- Conveniently delivered to your home
- No enrolment necessary
- Almost all brands are available
SHAREPLUS FEDERAL BANK
The SharePlus Federal Bank offers personal financial services. Before going to a bank, stop by the Credit Union to find out more about:
- Checking accounts
- Direct deposit of your pay check
- 24-hour ATM access to your account
- Savings accounts (Christmas Club, IRA)
- Loans (auto, home, credit card, personal) at favorable rates
- Visa debit cards
- 24 hour audio response system
- Internet home banking
- Call 1-800-35-BUCKS Or access the website at: http://www.shareplus.org/
U.S. SAVINGS BONDS
U.S. Savings Bonds earn competitive market-based interest rates. You do not pay state or local taxes on any interest earned.
- You can buy Series EE Savings Bonds through convenient payroll deductions.
- You must hold bonds for at least 12 months. After that, you may cash them in at any time.
- You can defer income tax on the interest earned on the bonds for up to 30, unless you cash in the bonds sooner.
- You do not pay state or local taxes on any interest earned.
- For additional plan detail, or to enroll, contact National Bond & Trust at 1-800-426-9314.
FORD VEHICLE DISCOUNT
Ford’s Partner Recognition Program is a vehicle purchase program for the employees, retirees and members of selected suppliers, fleet customers and organizations. PepsiCo employees can purchase or lease eligible vehicles at Ford Motor Company’s X-Plan pricing, which offers a very attractive, predetermined price (plus applicable fees and taxes). You can choose from a wide range of Ford, Lincoln, Mercury, Mazda, Volvo, Land Rover and Jaguar vehicles.
To use the Ford Partner Recognition Program:
- PepsiCo’s Partner Code is XA206.
- Log on to http://www.fordpartner.com or call the Ford Partner Recognition Hotline at 1-877-XPLAN-00. Using PepsiCo’s Partner Code, obtain a Personal Identification Number (PIN).
- Visit a local dealer with your PIN and identify yourself as a Partner Recognition participant. Provide your PIN and Social Security Number to verify your eligibility.
- Select an eligible vehicle
- Provide proof of employment through a pay stub, company I.D., business card or W-2.
- You may buy or lease a vehicle through this program. You also may lease through the respective brand’s credit source or any other outside source of financing.
- You are eligible for all public incentives plus many incentives normally paid to the dealer. Some special offers may not be compatible with this offer so check with your dealer to determine which incentives you are eligible for.
- Prior model year vehicles are only eligible through March 31st of the current model year.
- Used vehicles are ineligible.
- You may choose to trade-in your previous vehicle, but the trade-in allowance must be negotiated with the dealer.
- Dealer participation in this program is voluntary.
For complete details on the Ford Partner Recognition Program, log on to http://www.fordpartner.com or call the Ford Partner Recognition Hotline at 1-877-XPLAN-00. PepsiCo’s Partner Code is XA206.
GM VEHICLE DISCOUNT
Through GM’s Supplier Discount Program, PepsiCo employees can purchase or lease up to two GM vehicles at a discounted price from a participating dealership. You will pay just 4% over the price offered to GM employees on most vehicles. This offer is valid for all new GM passenger cars, SUVs, minivans and light-duty trucks, such as:
To use the GM Supplier Discount Program:
- Request a GM Supplier Discount Form on http://www.gmsupplierdiscount.com/ or by calling 1-800-960-3375.
Company Codes for website: Frito-Lay = 812788
Send in proof of employment (follow instructions on Discount form)
- Receive your discount form in the mail
- Present the form to your nearest participating GM Dealer.
GMAC Insurance offers auto insurance with benefits like:
- Guaranteed claims satisfaction
- Convenient electronic payments
- 24-hour, toll-free claims hotline
- Online account management
- Free towing coverage to the nearest place of repair
- Up to $500 emergency expense allowance
- $50 locksmith allowance.
Go to http://www.gmsupplierdiscount.com/ or call 1-800-960-3375 to find out more about their Supplier Discount Program.
Company Codes for website: PepsiCo & Frito-Lay = 812788
DELL COMPUTER PROGRAM
- PepsiCo employees receive up to a 12% discount off Dell list prices on Dimension desktops and Inspiron notebooks.
- The Employee Purchase Program also offers the same promotions (free upgrades, etc.) that are offered on http://www.dell.com/, Home and Home Office website.
- If you have any questions, call 1-800-695-8133 to speak to a Dell EPP Sales Representative.
- Please proved your Member ID Number: GS13399912
CHILD CARE CENTER DISCOUNTS
- To obtain a 10% discount on child care services, consult the white and/or yellow pages of your local telephone directory for the location nearest you
- Services are offered nationally at the KinderCare Learning Centers
- The Work Number (also known as TALX) is an automated service that will provide fast, accurate and confidential employment verifications when you apply for apartment leases, mortgages and other loans
- The service is available 7 days a week, 24 hours a day
- Employment verification includes
- - Social Security Number
- - Name
- - Most recent start or termination date
- - Total time with the company
- - Current or last job title
- - Reference number
- Employment Plus Income verification includes:
- - All Employment verification information
- - Rate of pay
- - Year to date gross earnings plus your earning totals for the past two years
- Have Questions? Call Customer Service Representatives at 1-800-9-WORK-NO (1-800-996-7566) or go to http://www.theworknumber.com/
You and your extended family are also eligible for the education loans.
- Apply for both private and federal loans to finance an undergraduate, graduate, professional or private (grades K-12) education through the ConSern Education Program.
- A person can borrow up to $20,000 per year and use the funds for all related expenses, including tuition, room and board, books, supplies, a previous year’s tuition and up to $5,000 for a computer to use at school.
- Contact ConSern Education Program at 1-800-SOS-LOAN or use the Internet: http://www.consern.com/ password SOSLOAN