2017 Summary of Benefits


Eligibility for IFA benefits begins after 90 days of continuous employment for full-time employees who work an average of 30 hours per week. The exceptions to this are the long-term disability insurance and the 401K plan which have a 12 month waiting period for eligibility to begin.


Medical Insurance

IFA has two medical plans and both plans are qualified, high deductible plans with a Health Savings Account (HSA). Health insurance premiums are deducted from payroll one month in advance. IFA pays the majority of the health insurance premium for the employees. The costs of the medical insurance are listed below.


Standard HSA Plan                 Type of Enrollment               Smart Consumer HSA Plan

$66.00 Bi-Weekly                          Individual Enrollment              $56.31 Bi-Weekly

$164.77 Bi-Weekly                        Family Enrollment                     $129.23 Bi-Weekly


Employees can deposit funds into their HSA on a pre-tax basis to help pay for qualified medical expenses. To help fund your HSA account, IFA will contribute to your HSA with up front funding* as well as additional matching on a 2-1 basis according to the schedule listed below.


Standard HSA Plan           Up Front Funding*          Bi-Weekly 2-1 Matching

Individual Enrollment           $125 Up Front*                 $9.62 if employee contributes $19.24

Family Enrollment                $250 Up Front*                 $19.24 if employee contributes $38.48


Smart Consumer HSA      Up Front Funding*          Bi-Weekly 2-1 Matching

Individual Enrollment           $150 Up Front*                 $13.46 if employee contributes $26.92

Family Enrollment                $300 Up Front*                 $26.92 if employee contributes $53.85


*Up front funding will be prorated based on employee’s hire date


Dental Insurance

IFA’s dental plan covers preventive services including two, no cost teeth cleanings per year. Other dental procedures are covered according to the benefits summary.


Type of Enrollment                        Dental Premiums

Individual Enrollment                        $9.69 Bi-Weekly

Family Enrollment                              $24.46 Bi-Weekly



Vision Reimbursement


IFA will reimburse up to $150 each year toward the purchase of one set of glasses (frames and lenses) or a year’s supply of contact lenses. This reimbursement is for each employee who enrolls in the health insurance and applies to each member of his or her immediate family.



Life Insurance

IFA pays for a basic life insurance policy equal to two times the employee’s annual salary. Employees may purchase additional, voluntary life insurance at an additional cost.

Long-Term Disability

IFA provides long-term disability insurance protection to full-time employees beginning on the first of the month following twelve months of continuous employment. Full premiums for this plan are paid by IFA. This insurance is designed to provide supplemental income to employees who are unable to work due to accident, injury or other events. Long-term disability insurance provides up to 60% of expected earnings for up to five years.


401K Plan

All IFA regular employees are eligible to enroll in the 401K plan following 12 months of continuous employment. There are two open enrollment periods (June & December) and you will be eligible to enroll during one of these periods. You may have 1% to 50% (not to exceed $16,500.00 annually) deducted from your gross earnings each pay period. IFA provides a Safe Harbor match equaling 3% of your wages. IFA will also match 50% of the participant’s contributions up to an additional 2% maximum match. All IFA’s 401K contributions are done on a pre-tax basis. Employees are 100% vested in the 3% safe harbor match as well as their own contributions. The 50% employer match will be vested according to a 5 year vesting schedule (20% each year). The 401K plan offers many investment options and is administered through Great West Retirement Services.



Holiday Pay

IFA celebrates eight paid holidays each year. These holidays include New Years Day, Memorial Day, Independence Day, Pioneer Day, Labor Day, Thanksgiving Day, Christmas Day and a floating holiday (awarded as an additional day of vacation). There is a 90 day waiting period for all new hires before being eligible to receive holiday pay.



Vacation & Sick Time

Regular, full-time employees are eligible for paid vacation. Vacation time begins accruing from your first day on the job, although you may not take any vacation time until you have completed your first 90 days of employment. Vacation time accrues according to your length of employment at IFA, and you may use that vacation time as it is earned, during the calendar year. Vacation may not be taken before it is earned.


Vacation hours may be carried over from year-to-year up to a maximum accumulation amount based on years of service. If such an employee accumulates the maximum amount, no more hours will accrue unless and until the employee uses some of their vacation time. At that time, the employee again will begin to accumulate vacation hours until the employee once again has banked the maximum amount again.


Vacation time accrues as follows:

Years of Employment

Vacation Time Allowed

1  Year 40 hours (5 days)
2  Years 80 hours (10 days)
8  Years 120 hours (15 days)
15 Years 160 hours (20 days)



Employees earn 48 hours of sick time each year to use for sick leave purposes. The maximum amount of sick time an employee may carry is 48 hours. Employees who are unable to report to work should contact their immediate supervisor before the start of their shift.


Employee Purchase Discounts

As an employee of IFA, you are eligible to receive discounts for purchases made in any of our IFA Country Stores. The employee discount price will be calculated at cost plus 15% margin, retail price or sale price, whichever is lower. This discount is extended to employees spouse and dependent children and should not be offered to family, in-laws, friends or neighbors or used for resale purposes.



AT&T/Verizon Discounts

IFA employees are eligible to receive discounts from AT&T and Verizon for purchasing mobile phone service and equipment. AT&T and Verizon have offered employees a 13% discount off of monthly service charges and other applicable discounts on phones and accessories. To qualify for this discount, at the time of sale, you will need to provide proof of employment such as an IFA paystub, business card or other identifying paperwork.


Mountain America Credit Union

As an employee of IFA, you are eligible for membership in the Mountain America Credit Union. Payroll deduction is available for both loan repayment and account deposits. Mountain America has many branch offices. You may view their web page at www.macu.com to find the branch nearest you. You may also call their customer service center to get answers to your questions. The toll free number is 1-800-748-4302 or a Salt Lake area number is 1-801-325-6228.


Other Intangible Benefits

There are many other benefits for employees of IFA that are intangible and difficult to quantify. One of these benefits is an amazing company culture where employees are expected to learn and grow and contribute to IFA’s company efforts. All employees are provided with the tools and training necessary to allow them to perform at the best of their abilities. Another benefit is the ability to work with a company that is passionate about providing the agricultural community with the things they need. IFA also works hard to provide a safe environment where employees can come to work and not have to worry about being harassed or discriminated against by other employees. To assist with this, we take specific steps during the hiring process to ensure that we hire individuals that will not detract from the amazing culture we have created.




Contact Information

If you would like more detailed information about IFA’s benefits package, please feel free to contact any of the individuals listed below. We would be happy to help answer any questions.


Lynn Strate – Fringe Benefits         Lynnette Anderson – IFA          Adam Sadler – IFA

Large Group Account Manager                Benefits & Payroll Specialist             Human Resources Mgr.

782 E. 12400 S.                                            1147 W. 2100 S.                                   1147 W. 2100 S

Draper, UT 84020                                       SLC, UT  84119                                    SLC, UT  84119

(801) 546-6004                                            (801) 908-1240                                  (801) 908-1242

lstrate@FBAbenefits.com                          lynnetteanderson@ifa-coop.com   asadler@ifa-coop.com