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Benefits Summary Legg Mason believes in the delivery of a total rewards package that is competitive, affordable, and flexible. Below is a brief overview of benefits available to eligible Legg Mason employees. This summary is not intended as a full description of each plan. Legg Mason reserves the right to eliminate, modify or interpret any of the benefit plans described herein at any time. Eligibility ^ top Employees Full-time regular employees are eligible for the benefits below. Part time regular employees who work an average of 20 hours per week are eligible for medical, dental, vision, flexible spending accounts, tuition reimbursement, the 401(k) Savings plan and the Employee Stock Purchase plan. Dependents Eligible participants in the medical, prescription, dental, and vision plans include spouses, domestic partners and children. Insurance and Health Benefits ^ top Medical Insurance Legg Mason offers several comprehensive medical insurance options, giving employees flexibility in choosing the program that works best for them and their families. Options include national Preferred Provider Organization (PPO) plans, national Exclusive Provider Organization (EPO) plans, a regional HMO-type plan, and a national Consumer Driven Healthcare Plan (CDHP). Premiums for health plans are shared by Legg Mason and participating employees. Prescription coverage is tied with medical enrollment. Dental and Vision Insurance Dental and Vision Insurance are available through two national provider networks. Participants may receive care from in- or out-of-network providers. Life Insurance Legg Mason provides full-time employees with Basic Life Insurance at no cost to employees. Voluntary Group Universal Life Insurance is also available. Dependent Life Insurance Legg Mason also provides full-time employees the option of purchasing Life Insurance for spouses, domestic partners, and dependents. Income Continuance/Short Term Disability Legg Mason has its own income continuance plan, which covers short-term disability conditions for up to six months, depending on length of service. Long Term Disability Legg Mason provides full-time regular employees with Basic Long-term Disability coverage, which provides partial income protection if disabled for longer than six months. Supplemental Long Term Disability coverage is also available. Flexible Spending Accounts Legg Mason provides employees with the opportunity to set aside pre-tax dollars for unreimbursed Healthcare and/or Dependent (child) care costs. These flexible-spending accounts can provide considerable tax savings. Savings/Retirement/401k Benefits ^ top 401(k) Savings Plan/Profit-sharing Contribution Legg Mason offers employees the opportunity to save pre-tax dollars, avoiding current taxes on amounts saved and on dividends and interest income earned on those savings. Eligibility occurs on the employee’s date of hire. There is also a company match on one’s contributions. The plan permits rollovers immediately upon date of hire from other qualified plans. The company also offers a profit-sharing plan. The discretionary profit sharing contribution is paid to eligible employees. Employee Stock Purchase Plan Our Employee Stock Purchase Plan permits employees to invest in Legg Mason common stock through after tax payroll deductions. The Company contributes a percentage to the amount contributed by the employee. Other Benefits ^ top Paid Time Off Paid Time Off (PTO) provides employees with the opportunity to manage their own time off for reasons such as vacations, personal and family needs, and illness. All time off for vacation, sick, or personal reasons is combined into one allotment. Paid Leave for Pregnancy and Adoption Legg Mason provides paid leave for pregnancy and adoption. In addition, employees may receive partial reimbursement for adoption-related expenses. Legal Plan Legg Mason offers eligible employees access to a vendor that provides legal services for a small annual fee. The service entitles employees and their eligible dependents to receive certain personal legal services. Commuter Programs Employees are eligible to participate in a commuter program designed to save tax dollars for commuting expenses, including transit passes and parking fees. Tuition Reimbursement Tuition reimbursement is available to eligible full-time and part-time non-temporary employees for job-related courses taken in a degree-seeking program at an accredited educational institution. Individual, job-related courses that are not part of a degree program are eligible when approved by the employee’s manager. Employee Referral Bonus Program Referring a former co-worker, relative, or friend can bring cash rewards. Legg Mason encourages employees to refer quality individuals that would add value to our firm. Employee Assistance Plan (EAP) The EAP provides free, confidential, professional assessment and referral assistance for employees and family members, covering a wide range of work/life needs including confidential counseling, adoption referral, elder/adult care referral, and childcare referral. Automobile and Home Insurance Discounts This voluntary program offers competitively priced auto and homeowners insurance with premiums payable through payroll deductions. Other Employee Discounts Legg Mason provides employees with access to many other employee discounts on apparel, cell phones, entertainment, computers, and other products. ^ top |