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Benefits

The Dime Bank is proud to offer employees an outstanding variety of benefits.

This listing is being provided as a mere outline of all our traditional and non-traditional benefits. Plan specifics are contained in the plan documents. Eligibility for health, dental, vision, disability and life insurance is effective the first of the month following Date of Hire for Exempt and the first of the month following 30 days of employment for Non-Exempt. All other benefits are effective after successful completion of the employee’s 3-month introductory period.

  1. Health Insurance
  2. Dental Insurance
  3. Vision Insurance
  4. Retirement/401(k)
  5. Paid Time Off (PTO)
  6. Volunteer Time Off (VTO)
  7. Paid Holidays
  8. Short and Long-Term Disability Insurance
  9. Life Insurance / ADD
  10. Medical Flexible Spending Accounts
  11. AFLAC
  12. Employee Stock Purchase Plan (ESPP)
  13. Additional Benefits
Health Insurance
Health insurance is available to all ACA qualifying employees. Coverage includes payment for doctor visits with a $25 or $35 copay to primary or specialty doctors respectively. Annual, in-network deductibles are $500 for individuals and up to $1,500 per family. Retail prescription drugs carry a co-pay of $0/10/40/60 and mail order Rx has co-pays of $0/20/80/120. Also, eligible employees who waive medical coverage and have coverage elsewhere can receive an annualized opt-out incentive of $600. Virtual doctor visits through Doctors on Demand or Amwell have a $0 copay.

Dental Insurance
The Dime Bank pays 100% for dental insurance for its full-time employees through Lincoln Financial Group. Dependent coverage is available at the employee’s expense. Dental coverage is also available to part-time employees and their dependents. Preventative services are covered at 100%, minor restoratives are covered at 80% and major restoratives are at 50%. This plan allows you to select a participating dentist and receive treatment up to the plan’s annual maximum of $1,500 or $2,000 depending on the doctor’s participation.

Vision Insurance
The Dime Bank pays 100% for vision insurance for all its full-time employees through VBA. 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 VBA participating provider, you will receive up to full coverage of routine eye examinations, lenses, frames, and contacts subject to maximum reimbursements.

Retirement/401(k)
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 on the 1st of the month 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%.

Paid Time Off (PTO)
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 7 years, PTO accruals increase to a rate equivalent to one additional week of time per year.

Volunteer Time Off (VTO)
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.

Paid Holidays
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.

Short and Long-Term Disability Insurance
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 at a rate of 70% of the employee's base pay. Eligible employees medically disabled for more than 12 weeks are paid 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.

Life Insurance/ADD
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.

Medical Flexible Spending Accounts
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 $2,500 per plan year.

AFLAC
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:
  1. Accident Plan helps with paying for medical and non-medical expenses that come out of your pocket in the form of co-pays, deductibles, travel, lodging, medications, etc.
  2. Short-Term Disability supplements your income while medically disabled and unable to work.
  3. Cancer Plan can help with the treatment costs of cancer, as well as costs not covered by major medical, such as out-of-pocket medical or travel and lodging expenses.
  4. Lump Sum Critical Care helps employees recuperate without the stress or worry over financial setbacks.
Employee Stock Purchase Plan (ESPP)
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.

Additional benefits
In addition to the benefits listed above, The Dime Bank provides the following:
  • Discounted loan rates
  • Educational assistance
  • Jury Duty and Bereavement Pay
  • Payment of up to half of gym membership
  • Anniversary gift and dinner
  • Investments and Employment referral bonuses
  • Fully paid, on-site annual flu shots
  • Holiday party and summer picnic
  • Access to financial/retirement advisors
  • Subsidized apparel with The Dime Bank logo










Equal Opportunity Employer–minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity.
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