Home BancShares, Inc.
Centennial Bank Human Resources
Human Resources FAQ’s
Topic: Payroll
? When do I get paid?
We are paid on a bi-weekly basis. Payday is every other Thursday. (See attachment for
payroll dates and pay periods.) The payment is for wages earned during the preceding 2
calendar weeks, Sunday through Saturday.
? Will I receive a live check or a direct deposit?
For added safety and immediate access to your wages, we encourage you to sign up for
direct deposit. The enrollment form is included in your New Hire packet. You may choose
to receive a manual check; however, direct deposits are available immediately. Live checks
have to be either mailed to you or sent interoffice.
? When will my 401k contributions be deducted from my paycheck?
For new enrollees, 401k contributions will come out of the first payroll following your
online enrollment. Therefore, if you enrolled on January 1, 2016, your first contributions
will come out of the January 7, 2016 payroll.
? Which payrolls include my insurance deductions?
Your first deductions will come out of the first payroll of the month once your insurance
goes into effect. For example, if your insurance goes into effect March 1, 2016, your first
insurance deductions will come out of the first payroll in March. Insurance deductions are
taken out twice a month. Since we are paid on a bi-weekly basis, there are 2 months out of
the year that have a 3
rd
payroll. Insurance deductions do not come out of the 3
rd
payroll of
the month. We call these “free” payrolls.
? Are my insurance deductions pre-tax or post-tax?
Most of your insurance deductions are pre-tax, providing you with tax savings. However,
short-term disability and life insurance deductions are post-tax. By paying taxes on the
premiums, you are not required to pay taxes on the insurance pay-outs.
? Which month do my insurance deductions cover? Do we pay a month in advance, a month
behind, or within the same month?
Your payroll deductions cover the month in which the deductions are made. Therefore,
your January deductions provide you with coverage for the month of January.
Home BancShares, Inc.
Centennial Bank Human Resources
? When will I receive my review?
New Hires will receive a performance review after the first 90 days of service. Annual
performance reviews are given to salaried employees at the end of every calendar year and
hourly employees on their anniversary.
*Salary reviews will coincide with your annual performance review.
? Who should I contact if I have questions about my paycheck?
If it refers to your pay, contact your immediate supervisor first. Questions regarding
withholdings or deductions can be e-mailed to HBI-HR (HR@my100bank.com).
? Can I view my paystub online?
Yes, instructions can be found in your new hire packet. If you have any issues, please e-
mail HBI-HR (HR@my100bank.com).
Topic: Benefits
? When will I receive vacation time?
Salaried employees begin accruing vacation on January 1 of each year. Hourly employees
receive vacation on their first anniversary. Vacation balances will be viewable on your
paystub following accrual.
? How much vacation time will I receive?
Full-Time Hourly (Non-Exempt) Employees:
2 Weeks (80 hours) beginning on your 1
st
Anniversary
3 Weeks (120 hours) beginning on your 5
th
Anniversary
4 Weeks (160 hours) beginning on your 15
th
Anniversary
Part-Time Hourly (Non-Exempt) Employees:
1 Week (25-30 hours) beginning on your 1
st
Anniversary
Salaried (Exempt) Employees:
Accrue hours each pay period based on the vacation schedule provided below:
2 Weeks (80 hours) beginning the year of your 1
st
Anniversary
3 Weeks (120 hours) beginning the year of your 5
th
Anniversary
4 Weeks (160 hours) beginning the year of your 15
th
Anniversary
Accrual Calculation for salaried employees:
80 Hours/26 pay periods = 3.08 hours per pay period
120 Hours/26 pay periods = 4.62 hours per pay period
Home BancShares, Inc.
Centennial Bank Human Resources
160 Hours/26 pay periods = 6.15 hours per pay period
? Will my vacation hours carryover to the following year if I do not use them all?
Vacation balances do not carry over. Any unused hours will be forfeited.
? When will I receive sick time?
Full-Time Hourly (Non-Exempt) Employees:
Accrue 4 sick hours each pay period up to a maximum of 320 hours.
Sick hours become available after 90 days of employment.
Part-Time Hourly Employees:
Not eligible to accrue sick hours.
Salaried Employees:
Receive 320 hours on January 1
st
each year. During the first year of employment,
employees receive a prorated amount of sick hours based on the remaining number
of pay periods in the calendar year. Sick hours become available after 90 days of
employment.
? Am I eligible to receive insurance?
All employees who are regularly scheduled to work 30 hours per week or more are eligible
to enroll on insurance.
? When will my insurance go into effect?
Any elected coverage will be effective the first day of the month following 30 calendar days
of service. So, if your start date is January 5
th
, your insurance will be effective March 1
st
.
The only exception to this policy is for the company paid life insurance, which goes into
effect the first of the month following 90 calendar days of service.
? Can I cancel my insurance at any time?
Yes, if there is a “qualifying event”. These include birth, adoption, marriage, death, divorce,
or change in work status.
? When can I make changes to my insurance elections?
You can make changes within 30 calendar days of a “qualifying event” or during the
company designated open enrollment period. In addition to the list above, a loss of
coverage is also a qualifying event.
? How do I cancel or make changes to my insurance?
Home BancShares, Inc.
Centennial Bank Human Resources
Please e-mail HBI-HR (HR@my100bank.com) within 30 calendar days from the date of the
qualifying event. The appropriate forms will be sent to you at that time. HR will also let
you know of any other documents that they may need.
? Does the company match my 401k contributions?
The company matches 50% of your contribution up to a maximum of 3% of your gross
wages. For example, if you contribute 6% of your gross wages, the company will match 3%.
If you contribute more than 6%, the company will still only contribute 3% since that is the
maximum.
? When can I enroll in the company’s 401k plan? When can I make changes to my elections?
Employees can enroll at any time. The only requirement is the employee must be at least
21 years of age. Contribution cancelations can be made at any time as well. Any other
changes such as an increase or decrease to your contributions can be made each quarter.
? When will my 401k be fully vested?
Your 401k will be fully vested after 5 years of service.
? What does “vested” mean?
When the company makes contributions to your 401k plan, you do not have full ownership
of those contributions. Your ownership increases with your years of service. Upon your 5
th
year, you have complete ownership of the company’s contributions.
? Does the company offer Roth 401k plans as well as traditional?
Yes, the company offers both and you may choose one or a combination of the two. For
example, you can contribute 3% of your gross wages to a traditional (pre-tax) 401k plan
and another 3% of your gross wages to a Roth (post-tax) plan.
? What is the difference between a Roth 401k plan and a traditional 401k plan?
A Roth plan allows you to pay taxes on the wages that you contribute each pay period and
not pay taxes on the earnings when you withdraw them via a qualified withdrawal.
A traditional 401k plan provides you with tax savings now and you would pay taxes on the
earnings when they are withdrawn. It’s really a matter of getting your tax benefit now or
later. The weight of the tax benefit depends on how much you earn now compared to how
much you expect to earn in the future.
? Who should I contact if I have questions about my benefits?
Please e-mail any questions to HBI-HR (HR@my100bank.com). Your e-mail will be
answered by the first available representative.
