Saks Global also provides salary continuation to protect your finances when your disability continues beyond the period covered by the Short-Term Disability Plan.
You can choose to enroll in Core or Buy-Up Long-Term Disability coverage. You will receive 40% of your monthly covered earnings under the core plan, or 60% of your monthly earnings under the Buy-Up plan ($12,500 per month maximum, $100 minimum or 10% of monthly benefit for both Core and Buy-Up). You pay the cost of these benefits through convenient payroll deductions. Rates are based on your age as of January 1 each year.
Salaried Colleagues or Employees
After you are declared disabled, you will receive 100% of your weekly earnings for weeks 2-8, following an initial one-week elimination period, then 66.67% for weeks 9-26.
Hourly Colleagues or Employees
After you are declared disabled, you will receive 66.67% of your weekly earnings, for weeks 2-26, following an initial one-week elimination period. Short-Term Disability coverage gives you peace of mind, helping you maintain financial stability while you take the time you need to heal.
