Davidson Technologies, Inc.
Company Facts
- Location: Huntsville, Ala.
- Type of business: Research & Development Engineering Company for the defense and aerospace industries
- Number of employees: 178
- Founded: 1996
- Web site: www.davidson-tech.com
Benefit highlights
- 100 percent employer-paid medical insurance premiums for employees and dependents
- 401(k) plan with a 50 percent match up to 5 percent of pay, plus a 10 percent non-matching contribution; average deferral rate of 7 percent
- 100 percent employer-paid premiums for short- and long-term disability insurance
- 100 percent employer-paid premiums for life insurance
“It’s very important to offer a strong benefits plan so we can attract and retain a highly technical workforce.”
– Pamela Peterson, director—Human Resources, Davidson Technologies, Inc.
Percent of employees participating in 401(k) plan: 100%
How they've continued to protect the financial security of employees in this economy:
“We’ve continued to make our discretionary contribution to the 401(k) plan,” says Pamela Peterson, director—Human Resources, at Davidson Technologies. “We review the discretionary contribution amount every year, but we’ve maintained the 10 percent contribution. That’s an outstanding benefit for our employees.”
Other interesting facts:
- Brings in a financial planner to meet one-on-one with employees
- Provides $1,800 in each employee’s medical reimbursement account
- Matches catch-up contributions to 401(k) plan for employees who are participating at the maximum level
Why Judges Selected Davidson Technologies
Watch a video of comments from 10 Best judge David Wray.
Read the transcript
“I was impressed by the commitment and pride that Davidson Technology has for its benefits programs. The company contributions, especially to the retirement plan, are clearly something that other companies should really look at to imitate. Also, they have a wonderful wellness program. They're committed to the wellness of their employees, and not just their physical wellness, but also financial wellness, because the company pays for individual financial advice.”
– David Wray, 10 Best judge and president of the Profit Sharing/401(k) Council of America
Financial professionals who advise on Davidson Technologies’ benefits programs:
- Insurance broker: W. Thomas Younger, CLY, GBDS, sr. vice president of J. Smith Lanier & Co.
- Independent financial advisor: Barry Hill, Raymond James Financial Services, Inc.
