Memo - New Benefit Renewal and Redesign

The NEW One Shaw Benefit Plan is Here!

We are excited to share the details of the new plan design with you.

Over the last several years, we have received feedback from our employees on our benefit package. This feedback was also reflected in our Moving Forward Together Survey conducted in October 2023. We have listened to your feedback and as a result, we have worked with an external benefit consultant to redesign and modernize our benefit offering for our employees. The new plan offers enhanced coverage, and options to provide more flexibility to meet the needs of our diverse workforce.

Over the next few weeks, we will be holding multiple education sessions to help employees understand the new plan details prior to our open enrollment period. Please look for invites to ensure you have all the information you need to make the right decisions to support your healthcare needs. If you have any questions throughout this period, related to the new benefit plan or the enrollment, please send those to BenefitEnrollment@shawgroupltd.com.

IMPORTANT NOTES:

• You will now have a choice on your Life/ADD and Long-Term Disability coverages.

• There are now three (3) Health and Dental plans to choose from, Basic, Flex and Platinum. These plans have been customized to provide options for coverage levels and also remain cost effective:

o The Basic plan is our lowest payroll cost option providing basic level coverage for essential health and dental items.

o The Flex plan offers flexibility providing base Health and Dental coverage combined with a Health Care Spending account.

o The Platinum plan offers a top tier Health and Dental package with enhanced benefits coverage.

IMPORTANT DATES:

January 24 – February 9, 2024

In person and virtual education sessions offered for all employees to review the above plan details and ask questions, so you can make the right choice for you and your family.

Feb 14 – Feb 23, 2024 ~HIGH IMPORTANCE~

Open Enrollment window to choose your Group Benefit package selection. All employees will be required to complete the open enrollment process within these timelines. If you don’t make selections, you will default into the BASIC SINGLE plan.

March 1, 2024

New Benefit Plan is LIVE

Feb 14 – March 28, 2024

Optional benefits (Life/ADD) enrollment period (more information to come regarding this).