Town of New Castle List of Full-Time Employee Benefits

1.   Vacation days –- Accrues at 10 days per year during the first year of employment and increases one (1) day per year of employment up to a maximum of 20 days per year.

2.   Holidays –- 10 days per year.

3.   Floating Holiday –- Employees receive one (1) floating holiday in each anniversary year after completing 365 calendar days of employment in an eligible employment classification.

4.   Sick leave –- Accrues at one (1) day per month.

5.   Payday –- Bi-weekly, every other Friday.

6.   Health, Dental, and Vision Insurance –- The Town pays 100% of the employee’s premium and 75% of all eligible dependent’s premium. Coverage is currently provided through the Colorado Employer Benefit Trust (CEBT).

7.   $25,000 Life Insurance –- The Town pays 100% of the premium for the employee only. Supplemental life insurance can be purchased for spouses and/or dependents.    

8.   Cafeteria Plan –- Employees are allowed to purchase American Fidelity products and to set aside pretax dollars for out-of-pocket medical expenses and dependent care expenses.

9.   Retirement Plan –- Employees are required to contribute 4% of their gross wages to the 401(a) Retirement Plan administered by Colorado Retirement Association (CRA). The Town matches this amount dollar-for-dollar and the employee is vested in the Town’s match over a five-year period (1/12 of 20% per month). Fulltime employees may also elect to contribute additional dollars to a 457(b) deferred compensation retirement plan.

10.   Administrative Leave for Exempt Employees –- Exempt employees take up to 40 hours administrative leave for the extra hours worked during a calendar year. However, administrative leave accrual will not continue beyond December 31 each year.