Benefits

Full-time associates are eligible for health and welfare benefits on their 31st day of employment. You may also enroll your eligible dependents, including a same-sex domestic partner, in our medical, dental, vision and dependent life insurance programs.

Medical – Our medical and pharmacy coverage through UnitedHealthcare (UHC) includes a choice of managed care medical plans that vary based on price, risk, coverage and predictability. You choose the plan that fits your lifestyle and financial needs.
Dental – Our coverage through MetLife offers one plan with two ways to use it: in-network coverage or out-of-network coverage. You’ll receive higher coverage, as well as lower deductibles if you select an in-network dentist.
Prescription Drug Program - Regardless of which medical plan you choose, you’ll receive pharmacy benefits. These benefits are payable for prescription drugs when a prescription is filled or refilled at a retail network pharmacy, or when using the home delivery/online pharmacy service.
Vision Program – Our coverage through Vision Service Plan (VSP) offers a vision plan option or a vision discount program. The vision plan option operates similar to the medical and dental plans. You’ll pay pre-tax biweekly premiums and doctor visit co-pays and you’ll receive in- and out-of-network benefits. If you choose the vision discount program, you’ll receive discounts off vision services and materials.

Basic Term Life Insurance – Our coverage is equivalent to your annual base salary. This is a company-paid benefit and is automatically provided to you whether or not you enroll in the medical plan.
Optional & Dependent Life Insurance - If you want to increase your total life insurance coverage beyond the basic term life insurance that Limited Brands provides, you may choose and pay for optional life insurance coverage for you, your spouse/same-sex domestic partner and/or children.

Short-term Disability - Benefits begin on the eighth calendar day of a continuous eligible absence and can continue through the thirtieth calendar day of absence. Under this benefit, you receive 100 percent of your regular base pay during this time.
Long-term Disability - If you are disabled from work for more than 30 days, you are eligible to receive 60 percent of your base salary, up to a maximum benefit of $11,000 per month. This is a company-paid benefit and is automatically provided to you whether or not you are enrolled in the medical plan.

Matrix Psychological Services Employee Assistance Program (EAP)
Whether you’re experiencing financial issues, facing the questions and stress of elder care decisions or are having problems handling everyday challenges, Limited Brands encourages you to seek help. The Matrix Psychological Services Employee Assistance Program (EAP) is a confidential counseling service offered to full time associates and designed to help you when you need it most. This is a company-paid benefit and is automatically provided to you whether or not you are enrolled in the medical plan.

A flexible spending account (FSA) lets you set aside a certain amount of your paycheck into health and dependent care accounts before federal, FICA and most state taxes are applied to your pay. Throughout the plan year you can use money from your accounts to pay for eligible health and dependent care items such as eyeglasses, co-payments, prescriptions and day care and preschool. All benefits-eligible associates can enroll in the FSA. You do not need to be enrolled in the medical plan to participate.

The Savings and Retirement Plan (SARP) is designed to provide options for all eligible associates to save for their future.
• 401(k) - Offers you the opportunity to save up to 75 percent of your salary within the IRS limit.² The first four percent that you save is matched 100 percent by the company and is vested immediately.
• 401(k) eligibility: Eligibilty is immediate as long as you are at least 21 years old. Information will be mailed to your home explaining how you can begin saving through the 401(k).
• 401(k) match: Your 401(k) match will begin after one year of eligible service.

Retirement Contributions – Retirement contributions provide you with additional income whether or not you’re saving in the 401(k). Retirement contributions begin vesting after two years and are fully vested after six years.

• The company will make annual contributions to your SARP account, based on three percent of your pay (up to $106,800 plus six percent over $106,800 up to $245,000) (four percent, eight percent respectively after five years of service).²


• Eligibility - In addition to meeting the eligibility requirements for the 401(k),, you must be employed on December 31, and have worked at least 1,000 hours during the payroll calendar year.
  Vesting - You are immediately 100 percent vested in the 401(k) company match.


• The retirement contribution is subject to a six-year vesting schedule, and you receive vesting credit for each year you work 1,000 hours or more.


• You become 20 percent vested in the Retirement Contribution after two years of vesting service.


• Your vesting increases 20 percent each year until six years of vesting service, at which time you are 100 percent vested.

Investment Funds - The SARP offers several investment funds from which you can choose to invest your retirement monies.

Stock Purchase Program - We believe it is important for all associates to be partners in and “own” part of the business. To make this easy, a company stock purchase plan is available to you from day one. You may purchase shares of Limited Brands, Inc. through payroll deduction. The company pays all expenses associated with the purchase of company stock and reinvestment of dividends into your account.

¹ If you are an associate earning wages of $110,000 or more, you will not be eligible to participate in the dependent care flexible spending account in 2011. You will be eligible to participate in the health care flexible spending account.

² 2011: IRS 401(k) Annual Maximum = $16,500, IRS Qualified Plan Maximum Compensation Limit = $245,000,
Social Security Wage Base (SSWB) Limit = $106,800

³ During your first year of participation, your Retirement Contribution under the SARP will be prorated based on compensation earned after you become eligible for the SARP. You must be actively employed on Dec 31 to receive these benefits.

Holidays - After 30 days of employment, you will be eligible to receive pay the following six holidays:

• New Year’s Day


• Memorial Day


• Independence Day


• Labor Day


• Thanksgiving


• Christmas

Paid Time Off (PTO) - Our PTO program gives you control over the use of your available time off. Think of it as a time-off bank. At the beginning of the year we deposit a number of days into your account. Instead of separate sick, personal and vacation days, you have a total number of PTO days based on your length of service.

How and when you use PTO is your decision. You can even spend it by the day or half day, so you have more flexibility when scheduling your time away from work. After 30 days of service, you will be eligible for a balance of PTO days to be used for the remainder of the calendar year, according to the month you were hired, as follows:

PTO for full-time associates
After 30 days of service as a full-time associate, you will be eligible for PTO according to the month you were hired.



2nd-5th calendar year 17 days
6th-10th calendar year 22 days
11th-14th calendar year 26 days
15th calendar year 30 days

Note: The PTO description above does not apply to associates working in the State of California. Please contact the hiring manager for more information regarding the California PTO program.

Associates receive a merchandise discount, according to the following schedule:

Full-time associates with at least one year of consecutive full-time service are eligible for education reimbursement for a GED, or for work related undergraduate or graduate course work, up to $3,000 per year.

We recognize that families grow in different ways. If you choose adoption, Limited Brands provides financial assistance. Eligible associates may receive reimbursement for adoption-related expenses up to $5,000.

If you take public transportation, ride in a vanpool or pay to park near work or public transportation, our Commuter Program helps you use pre-tax dollars to save up to 40 percent on commuting costs. Similar to our Flexible Spending Accounts for healthcare costs, deductions to pay for your parking or transportation are taken from your paycheck before federal, FICA and most state taxes are applied to your pay, so you'll benefit by automatically paying less taxes in each paycheck.

As a full-time associate, you may choose to enroll in the legal insurance plan. Legal insurance gives you access to professional attorneys (where most attorney fees are paid-in-full), financial planners and other valuable resources such as online tools and resources, identity theft services and immigration assistance.

Special Note: Nothing in this benefits overview may be construed as a contract or guarantee of employment. Limited Brands, Inc. reserves the right to change or terminate this Plan as it deems necessary. This information is a summary of the provisions of the master plan documents governing the administration of the benefit plans. Where information differs, the Plan documents will govern.