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This site summarizes the key features of the benefits available to eligible salaried employees of GATX Corporation. The information contained in this summary is based on the documents that govern these benefits. If there is any discrepancy between the description of a plan contained in this summary and the terms and conditions contained in the official plan documents, the documents will prevail.
Through several different plans, GATX offers you and your family valuable financial protection when disability leaves you unable to earn a paycheck, or in the event of death. Disability income benefits provide continuing income equal to a percentage of your regular salary while illness or injury prevents you from earning a paycheck. These plans can provide financial protection during both short and extended periods of disability.
Short Term Disability
This benefit provides:
- Automatic coverage after six months of GATX employment.
- Continuing income equal to 100% or 66-2/3% of your base salary (depending on your length of GATX service) while you are disabled and unable to work, for up to six months.
- GATX pays the full cost of this coverage.
Long Term Disability
This benefit provides a continuing monthly income equal to a portion of your base salary.
Basic Benefit:
- Automatic coverage from first day of GATX employment.
- Monthly benefit equal to 60% of your base salary.
- GATX pays the full cost of this automatic coverage.
Supplemental Benefit:
- Additional coverage available from first day of GATX employment.
- Monthly benefit equal to 6-2/3% of your base salary for a total GATX disability benefit equal to 66-2/3% of pay.
- You must enroll for and pay your share of this optional coverage.
Life and Accident Coverage
GATX life and accident benefits can provide valuable financial protection if you or a member of your family dies or becomes seriously injured as the result of an accident. GATX pays the full cost of basic term life insurance with coverage equal to two times your annual base salary. In addition, while travelling on company business, GATX provides you with business travel insurance equal to three times your annual base salary up to $500,000.
In addition to the GATX provided life insurance, you have the option to supplement it with other coverage. You enroll for and pay the full cost of any coverage you choose.
This benefit provides:
- Additional term life insurance equal to one, two or three times your annual base salary.
- Dependent life insurance for your spouse and children.
- Accident insurance for you and your family.
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