PetSmart offers many AWEsome associate benefits and a variety of tools and resources to help you maximize those benefits. The following summary is a supplement to the SmartChoices Benefits Program and includes additional plans available to the PetSmart Executive Team. As you will see, they are a valuable component to the PetSmart total rewards package.
PetSmart values its leaders and in doing so, provides executive physicals at the Mayo Clinic or other facilities prearranged by the Benefits Team. The services covered vary by age and sex.
Basic tests provided are:
- Physical Examination
- Laboratory Work
- Exercise Treadmill
- Resting Electrocardiogram
Charges for optional tests and consultations related to a medical diagnosis are not included in the executive physical program and will be submitted to the officer’s health insurance for processing. You will be responsible for paying any out-of-pocket expense(s).
Services covered by the Executive Physical Program are billed directly to PetSmart, LLC. and are not taxable to you.
It is important to know that Mayo is currently scheduling about 6 months out. When making your appointment, you will be notified of the month that your appointment will be scheduled for but will not receive an exact date at the time of your initial contact. Mayo will send you a reminder to call to secure a date and physician. There two options for making your appointment:
- Call (480) 301-8088 to schedule an exam. Coordinators are available to assist in scheduling appointments, answering questions about the program, and providing a detailed itinerary. Please use this option if you have a restricted schedule with dates and times you would be able to have your appointment.
- Email firstname.lastname@example.org to let them know when they would like to make you appointment (month/year). Mayo will send an email 3 months in advance of the month selected to let you know it’s time to select a date. Please use this option if you have flexibility in your schedule as to dates and times you would be able to have your appointment.
Read full details on Executive Physicals through Mayo Clinic.
Deferred Compensation Plan
The PetSmart, LLC. Deferred Compensation Plan (DCP) provides an excellent opportunity for participants to defer compensation and accumulate earnings on a before-tax basis. By doing so, it is an attractive benefit that provides participants with significant retirement and financial planning savings opportunities.
This Plan does not replace the 401(k). Some highlights of the DCP include:
- High Deferral Limits. Participants may defer up to 75% of salary and up to 100% of annual bonus monies.
- Multiple Investment Options. Participants may invest in a variety of funds suited to personal investment strategy and risk tolerance.
- Funded trust Protection. With a nonqualified deferred compensation plan, the Company’s obligation under the Plan is an unsecured promise to pay money in the future. Amounts payable to participants and beneficiaries will be paid from the general assets of the Company. The Company has also established a trust to accumulate funds to satisfy its obligations under the Plan. However, the trust does not provide security in the event the Company becomes insolvent or files for bankruptcy protection.
Eligibility for the DCP is upon hire; there is a two-month wait for eligibility in the SaveSmart 401(k) Plan. You will receive 401(k) enrollment materials directly from Fidelity once eligible.
Executive Choice Plan
Executive Choice is a flexible, supplemental compensation program that provides reimbursement for eligible expenses up to an annual maximum based on level of leadership, see chart below for annual maximum amounts. You can tailor the program to fit your personal needs and preferences based on the types of personal expenses outlined below: Based on your work or life change, you may need to take additional action related to your qualified event. See the chart below for next steps based on each type of change.
Senior Vice President
Executive Vice President
President & CEO
*Rates will be prorated based on hire date during the first year of employment.
Executive Long-Term Disability Plan
Additionally, executives receive company-provided Executive long-term disability coverage that provides a monthly benefit of 66.67% of salary, to a maximum of $15,000/month.
Executive Life Insurance
PetSmart gives all eligible associates a basic level of life insurance equal to one times annual base salary. You pay nothing for this coverage.
Each year at Annual Enrollment you can increase your supplemental life insurance by one level up to a cap of $1,000,000. The expense for any additional life insurance is not reimbursable under the executive choice.
In addition to these executive benefits, PetSmart offers a wide variety of benefits, including but not limited to medical, dental, vision, health programs, and more. Information regarding all of these benefits can be found throughout the PetSmart benefits website by navigating the tool bar at the top of the page.