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| DISABILITY |
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| Highlights |
If you become disabled and are unable to work, the loss of your income
could cause a serious financial hardship. Valassis' Disability Plan
is designed to provide you with continuing income during your disability,
and includes:
- Short-term Disability (STD) Benefits that pay all or a percentage
of your weekly pay for qualified disabilities lasting six months or
less. You will qualify as disabled if you are unable to perform the
essential functions of your occupation for more than 15 consecutive
calendar days due to an illness or injury that is not covered by Workers'
Compensation. This means you will not receive STD benefits for any
illness or injury that is covered by Workers' Compensation.
- Long-term Disability (LTD) Benefits that pay a percentage
of your monthly pay for qualified disabilities lasting longer than
six months. (If you qualify, your long-term disability benefits pick
up where your short-term disability benefits leave off.)
Disability Benefit at a Glance
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Short-term Disability Benefits |
Long-term Disability Benefits |
| Amount of Benefit |
All full-time associates: 66 2/3%, up to maximum of
$2,000 per week |
All full-time associates: 60% of base pay at the time
of disability, up to $10,000 per month |
| When Benefits Begin |
When you are unable to work after more than 15 consecutive calendar
days due to an illness or injury |
After 26 weeks of total disability |
| Duration of Benefits |
Up to 26 weeks per period of disability (2 weeks of this represents
the 15 day waiting period) |
For salaried associates - until Social Security Normal Retirement
Date or longer if disability starts at age 63 or later. For hourly
associates - 5 years. |
| Cost |
Fully company-paid |
Fully company-paid |
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Summary Plan Description
The legal summary of this benefit will be included in the
2008 Benefits Handbook.
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