Our Benefits
Active full-time employees who work thirty or more hours per week are eligible to participate and enroll in all company provided benefits. Active part-time employees who work less than thirty hours per week are eligible to participate in the company"s 401(k) Retirement Savings Plan, Employee Share Purchase Plan, Employee Apartment Discount, Camden University, Employee Referral Program, and Corporate Apartment Program. Eligibility waiting periods may vary depending on the benefit plan.
Available Benefits
Medical, Vision and Prescription Drug Plan (PPO)
Camden offers two Preferred Provider Organization (PPO) plan options to full-time employees. The Premium and Core PPO plans provide a higher benefit level when using a network physician, hospital, and/or provider. When services are received in network, physician office visits are covered 100% after a $20 co-pay. Other services received in network are covered at 80% under the Premium PPO and 70% under the Core PPO for usual, customary, and reasonable charges. Camden's PPO plans cover wellness exams (such as physicals and well baby care) up to a yearly maximum, as well as vision benefits, and prescription drug benefits. While Camden pays for the majority of the costs for medical coverage, participating employees are responsible for a portion of the cost through payroll deduction.
Dental Plan
Camden offers full-time employees a dental benefit plan that covers 100% of preventative care (e.g., cleanings, x-rays), 80% for basic treatment, 50% for major treatment and orthodontic care for children. The dental plan also offers employees the flexibility of choosing their own dentist or a PPO network dentist. Participating employees are responsible for a portion of the cost associated with the plan through payroll deduction.
Flexible Spending Accounts
Camden offers full-time employees the opportunity to deposit pre-tax money into accounts for health care and dependent care expenses. This allows employees to reduce their taxable income and be reimbursed for eligible expenses not covered by the Medical, Vision and Dental Plans or expenses for child care, an incapacitated spouse, and elderly parent care.
Life and Accidental Death & Dismemberment Insurance
The life and accident insurance plans help protect full-time employees and their survivors from financial hardship in the event of a death or accidental injury. Camden provides employees a benefit of two times their annual salary for basic life and accidental death and dismemberment coverage. Camden also offers employees an option to purchase additional life and accidental death and dismemberment insurance at reduced rates.
Short Term Disability and Group Long Term Disability
Camden offers Short Term Disability benefits to full-time employees who have been with the company for at least one year. Short term Disability pays 60% of eligible employee's base pay for the time they become disabled up to a maximum of eleven weeks.
Camden’s Long Term Disability Plan (LTD) provides monthly benefits when a full-time employee is disabled and prevented from working as a result of a covered accident or sickness. This program provides a monthly payment of 60% of the employee's base salary up to a maximum dollar amount per month after a ninety-day elimination period.
Adoption Benefit
Camden offers an adoption reimbursement benefit of up to $5,000 per child. The lifetime maximum benefit is $15,000. Most expenses directly related to the adoption are reimbursable. Camden also provides eligible employees up to three weeks of paid leave at 60% of base pay. Adopted children must be under the age of eighteen.
Paid Time Off (Vacation, Holiday and Sick Time)
Camden grants vacation time to full-time employees. The amount of vacation is determined by the employees' length of active service with the company. Camden grants forty hours of vacation time after six months of employment, after which time vacation hours begin accruing each pay period.
In addition to vacation time, Camden offers full-time employees nine paid holidays during the year. The holiday schedule is published on an annual basis.
Camden also recognizes an employee's inability to work due to personal or family illness. For this reason, the company provides paid sick time for full-time employees. After completing ninety days of employment, an employee will receive sick time based on a schedule. Each January thereafter, an employee will receive forty hours of sick time. Any unused sick time will be transferred into a Disability Bank.
401(k) Retirement Savings Plan
Camden offers all employees a 401(k) Retirement Savings Plan that allows them to watch their financial security grow each year with the company's matching contributions. The plan is designed to help employees save for their retirement and, at the same time, reduce their current taxes. All employees with at least six months of employment are eligible to participate in the plan. Through automatic payroll deduction, employees may make deferral contributions between 1% and 60% of their pre-tax earnings. Contributions are subject to annual dollar limits set by the IRS.
Camden matches:
- 100% of the first 2% of employee compensation contributed to the plan
- 50% of the next 5% of employee compensation contributed to the plan up to a maximum of $3,000 per plan year
The plan also allows employees to receive vesting credits for the number of years they have worked for the company, up to three years, at which point they are fully vested.
Employee Stock Purchase Plan (ESPP)
Camden Property Trust, a publicly traded company on the New York Stock Exchange (NYSE:CPT), allows all employees to buy shares of Camden stock at a discount after one year of employment. By participating in the Employee Stock Purchase Plan, employees can buy Camden stock at a 15% discount through payroll deduction or a lump sum payment. Employees are limited to $25,000 of value per calendar year, and must hold the shares for at least nine months to get the benefit of the discount. This program is designed to assist employees in buying company stock at a favorable price.
Employee Apartment Discount
As an added benefit and incentive for employees to live in a company-owned apartment community, Camden offers full-time employees a 20% rent discount and part-time employees a 10% rent discount.
Camden University and Education Assistance
Camden employees enjoy numerous opportunities for continued education and on-the-job training. Camden University, a unique program offered through Camden's Education Services department, provides employees the opportunity for salary increases after attending a specified number of courses in job-related areas. In addition, partial tuition reimbursement of approved courses is provided for full-time employees who have been with the company at least six months and wish to continue their education at approved institutions.
Camden Property Trust Scholarship Fund
The Camden Property Trust Scholarship Fund helps children of Camden employees attend the college or university of their choice. These scholarship awards ease the financial burden of college and increase employees ability to assist their children in preparing for successful careers. Children of Camden employees who are high-school seniors or undergraduate students under the age of twenty-five may apply for scholarships. The parent or guardian must be a full-time Camden employee and must have completed at least two years of active service with Camden by the time of the scholarship award date. Applicants must complete the scholarship application and provide the required information by the due date.
Employee Assistance Program
Camden's Employee Assistance Program puts employees in touch with quality, professional counseling services and important information for family relationship conflict, emotional stress, alcohol/drug abuse, financial counseling, and work problems. The EAP is free and confidential for all employees.
Employee Referral Program
To encourage and reward employees for referrals for available positions, Camden will pay a referral bonus to an employee who refers an applicant. A referral bonus will be paid once the new employee completes six months with Camden.
Corporate Apartment Program
Camden is pleased to offer the use of corporate apartments to its employees as a benefit. The fully furnished apartment homes are located throughout the portfolio at a number of different properties. There is a nominal fee per night and the maximum allowable stay is seven nights.
The information above is intended to be an overview of the many benefits Camden provides. From time to time the company reviews its policies and benefits and makes revisions based on the need or desirability for change. Thus, any policy or benefit may be modified at any time.
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