Compensation & Benefits
We are committed to attracting and retaining the best talent in the industry. In order to do this, we offer an exceptional employment package with competitive compensation, outstanding benefits and policies designed to reward performance and enhance your life. In addition to a base salary, all full-time salaried employees are eligible for annual performance bonus pay which is based on the company’s overall financial results, as well as individual contribution and performance. We also offer a robust benefit package that can be tailored to meet your individual family’s needs and desires.
Description of benefits
Medical Insurance
United Healthcare is our medical insurance provider. We offer multiple comprehensive medical insurance plans from which to choose. Our medical insurance plan is available to all full-time salaried employees and their families (in certain circumstances on a secondary basis only) on a voluntary basis. All of our medical insurance plans include an extensive network of providers, prescription drug coverage and vision. Team members are eligible for medical insurance on the first day of the month following their date of initial employment.
Dental Insurance
Aetna Dental is our dental care insurance provider. We offer multiple comprehensive dental care insurance plans from which to choose. Our dental care program is available to all full-time salaried employees and their families on a voluntary basis. The Company pays 80% of the employee premium and participants pay the monthly premium for any additional family coverage. Partial orthodontic coverage is included for dependent children. Team members are eligible for dental care insurance on the first day of the month following their date of initial employment.
401(K) Plan
The Murphy 401(k) Plan is managed by an outside registered investment adviser, Fidelity Investments, and includes options that allow for both traditional 401(k) contributions as well as Roth 401(k) deferrals. Our Plan provides that the Company may make matching contributions to eligible participants; the Company currently matches 50% of participant’s 401(k) contributions up to 6% of compensation (i.e., 6% employee deferral results in maximum 3% employer matching contribution). Full-time salaried employees are eligible to participate in the 401(k) plan beginning on the first day of the month following employment.
Profit Sharing Plan
The 401(k) retirement savings plan also features a profit-sharing contribution, on a discretionary basis, based upon the financial performance of the company. Full-time salaried employees are eligible for this benefit after completing one year of service.
Basic Life Insurance
Murphy provides life insurance at no cost to eligible team members in an amount equivalent to their annual base salary. Full-time salaried employees are eligible for life insurance on the first day of the month following their date of initial employment.
Optional Life Insurance
In addition to the company-paid basic life insurance, optional life insurance is available for purchase of additional coverage by the full-time eligible employee, his/her spouse and children.
Optional Group Legal Plan
Prepaid Legal Services is our group legal plan provider. Our group legal plan provides personal legal services associated with common legal needs for eligible employees and their eligible dependents.
Short Term Disability Insurance (STD)
Murphy provides STD insurance at no cost to team members. This program allows a team member to continue base salary when unable to work due to personal illness or injury, up to a maximum of 3 months (subject to length of service requirements). Full-time salaried employees are eligible for this benefit on the first day of the month following their date of initial employment.
Long Term Disability Insurance (LTD)
Murphy provides LTD insurance at no cost to team members. LTD begins after 3 months of disability and full-time salaried employees are eligible for this benefit on the first day of the month following their date of initial employment.
Flexible Spending Accounts
Flexible Spending Accounts allow team members to pay for qualified health care and/or dependent care expenses with pre-tax dollars.
Health Club Membership Reimbursement
In an effort to further encourage our employee’s well-being Murphy will reimburse 50% of the annual cost of membership in a health/exercise club up to a maximum of $150 per year.
Vacation Leave
Murphy is committed to providing opportunities for work and life balance. Vacation time is allotted to employees in the following fashion:
- Up to 3 years of service = 10 days per year
- Between 3 and up to 15 years of service = 15 days per year
- More than 15 years of service = 20 days per year
Sick Leave
All full-time eligible employees are eligible for an allotment of 10 days per year of sick leave to be used in the event of an illness or injury. An employee may qualify for disability coverage if they are unable to work for an extended period of time and have exhausted all of their annual sick leave.
Paid Holidays
Murphy offers eight company-wide paid holidays each year.
