Paid Family Care Leave Policy
This policy is effective as of January 1, 2017.
Vanguard provides up to two weeks of paid family care leave to eligible crew members who are caring for a seriously ill family member. The paid leave benefit is intended to provide flexibility and time out of the office at a time when crew need it most. Vanguard has delegated day-to-day benefits administration, including determination of eligibility for, the amount of, and duration of family care leave benefits, to a third-party short-term disability management company.
This policy applies to U.S. crew members who meet the eligibility criteria outlined below in the "Policy requirements" section.
You are eligible for family care leave if you are a crew member scheduled to work 30 hours a week or more and have completed 12 months of service prior to approval for this leave. If you are a temporary/seasonal employee or a contractor, you are not eligible for family care leave.
The definition of serious health condition for this paid leave is the same as the definition under the Family and Medical Leave Act (FMLA) of 1993. Please review the FMLA Policy for those details.
The definition of family member is your spouse, son, daughter, parent, or domestic partner, as defined by the eligibility requirements for covering domestic partners under The Vanguard Group, Inc., Benefit Plan.
If you meet the eligibility requirements, you qualify for up to two weeks of paid family care leave in a "rolling" 12-month period, which begins on the date that you qualify for and begin taking family care leave. The amount of the benefit is based upon 100% of your base pay for the number of hours in your scheduled work week.
Family care leave can be taken continuously or intermittently based upon required medical certification of the need for time. Whether you are a bonus-eligible or an overtime-eligible crew member, you must record any partial leave time taken (e.g., intermittent family care leave) in Workday. You cannot submit time in Workday for your leave if a Workday Leave of Absence request is not completed.
Family care leave also will be designated as FMLA time, if available and if your leave qualifies for FMLA. Family care leave and FMLA will run concurrently.
Certification for medical leaves
You must complete a medical certification form indicating that a serious health condition exists and other information as requested within 21 days of requesting leave. If the third-party short-term disability management company determines that the certification is incomplete or insufficient, they will request additional information from you in writing and allow you seven days to provide the requested information. If you do not provide the requested information within that time frame, your paid family care benefit may be delayed.
Your paid family care benefits will terminate if:
- You reach the maximum benefit period payable under the policy.
- You fail to provide required documentation.
- Your employment is terminated for any reason.
Family care leave benefit payments based upon 100% of your base pay are paid in accordance with each pay cycle and are required to meet the regular payroll deadlines shown on the payroll calendar. Any amount paid to you in error under the Paid Family Care Leave Policy may be recovered by Vanguard. In situations of overpayment, Vanguard will recover the overpayment directly from you or your subsequent paychecks in compliance with applicable payroll rules and regulations.
Partnership and bonus payments are not impacted by your time on family care leave. Both Partnership and bonuses are paid on the normal distribution dates and are not prorated due to your time on leave. Please see Partnership Plan Policy and Overview of bonus program for details.
The timing of your performance review and the merit effective date, if applicable, are not impacted by your time on paid family care leave. Your review will be completed by your manager during the year-end time frame. Your manager will either contact you while on leave to hold performance and merit conversations or they will be held upon your return to the office.
FlexCare benefits and payments
The FlexCare program includes coverage for health, dental, vision, prescription, life, and accidental death and dismemberment (AD&D) insurance, as well as flexible spending accounts (FSAs), purchased paid time off (PTO), and group legal.
Benefit deductions will continue to be taken from your pay for the period of the family care leave.
Annual Open Enrollment
If you are on family care leave during the annual Open Enrollment period, Open Enrollment information will be emailed to your home email address or mailed to your home address if we do not have your home email address on file. You will be eligible to make selections while on leave. If you are on a leave of absence, any election increase to basic life and/or supplemental life insurance will not go into effect until you return to work.
Paid time off (PTO)
PTO will not accrue during the family care leave. PTO accrual is based on time actually worked.
Holiday time will not be paid during family care leave. For more details, please refer to the Payroll Practices Policy.
In order to receive reimbursement, you must have been employed with Vanguard full-time prior to the start of the course and must not be on a paid or unpaid leave of absence at the time the reimbursement is scheduled to be paid to you. If you are on a paid or unpaid leave of absence (including family care leave), you will not receive such reimbursements unless and until you return to work.
Unpaid family and medical leave
Paid family care leave runs concurrently with FMLA for eligible family members, and to the extent that it is available. You may be eligible for unpaid FMLA time following the expiration of paid family care leave benefits, for eligible family members, as defined by FMLA.
Vanguard Retirement and Savings Plan (RSP)
Salary deferrals and matching contributions (if eligible) to the Vanguard RSP may be continued during your paid family care leave. Your payments on plan loans will continue during paid family care leave.
Family care leave will not be treated as, or counted toward, a “break in service” under the RSP.
Vanguard reserves the right to restrict your computer access while you are on leave.
|Scheduled work week||A calendar week consisting of the days you normally work.|
|Months of service||Your number of months of continuous service beginning with your date of hire or continuous service date if you have been rehired.|
|Family and Medical Leave Act (FMLA) of 1993||Federal law providing eligible crew up to 12 weeks of unpaid leave (or up to 26 weeks in the case of covered service member leave) for certain family members and medical reasons during a 12-month period.|
Policy administration and ownership
The Human Resources managing director is the policy sponsor and is responsible for overall administration and interpretation of the policy. The Benefits Manager is the policy owner who is responsible for implementing, maintaining, and reinforcing this policy. Vanguard reserves the right to amend, modify, or terminate leave benefits at any time.