Pinnacle West Capital Corporation
PNW Stock Jul 2, 2009 29.62   
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2008 Annual Report


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Careers: Compensation & Benefits

Compensation
The Pinnacle West family of companies - Pinnacle West, APS, APS Energy Services and Pinnacle West Energy - offers competitive salaries, excellent benefits and advancement opportunities. There is an emphasis on providing a strong link between performance and compensation. When the company and individual business units meet their targets, all employees enjoy the rewards.

The company also provides a number of opportunities for rewards and recognition throughout the year.

Benefits
We all have different needs - that's why the benefits program for the Pinnacle West family of companies offers a multitude of options so you can select the benefits that best suit your individual needs. And since our needs change throughout the course of our careers, Pinnacle West offers employees the opportunity to re-evaluate and change their benefit selections each year during our open enrollment period.

Medical and Dental Plans 
Several medical and dental plans are offered in addition to an "opt out" option for individuals who are covered under another plan. Eligibility begins after one month of continuous service. Unmarried children under the age of 19 are eligible for coverage, and unmarried children between the ages of 19 and 25 who are regularly attending school on a full-time basis  are also eligible.

A vision service plan, which includes eye exams and eye wear, is also available to employees and their eligible dependents.

Healthcare and Dependent Care Spending Accounts 
The Healthcare and Dependent Care Spending Accounts are designed to provide a special tax-saving opportunity by allowing you to pay for certain out-of-pocket health care or dependent care expenses with pre-tax dollars.

Paid Time Off 
The company offers a single flexible bank of paid time off (PTO) for vacations and personal and family illness. The company also offers employees the opportunity to carry over up to 40 hours of PTO each year, or sell back up to 40 hours of unused PTO.

Holidays and Other Time Off 
In addition to paid time off, employees receive nine paid holidays. Employees also are provided with time off for bereavement, jury duty, to vote, and to serve in a military reserve unit or the National Guard.

Leaves of Absence 
You may need time off from work for a variety of reasons other than illness or vacation, so Pinnacle West provides employees the opportunity for general leaves of absence, unpaid sabbaticals, family or medical leaves, education leaves and military service leaves.

401(k) Program 
Employees who have attained the age of 18 may immediately participate in the Employee Savings Plan (40lk). Contributions may be made on a pre-tax, after-tax or Roth 401(k) basis. There are different investment funds from which to choose. Pinnacle West will match 75% of the first 6% pre-tax contribution after six months of service.

Life Insurance 
Basic life insurance is paid for entirely by the company and additional employee coverage can be purchased at group rates. You also have the option to select Dependent Life Insurance for your spouse and/or dependent children.

Tuition Reimbursement 
Reimbursement is available for approved educational programs after six months of employment. The plan reimburses you up to 100 percent upon completion of a degree program.

PC and Health Equipment Purchase Program 
To help employees enhance their computer skills, a zero-interest financing program is available to employees who purchase personal computer hardware or software for home use after six months of employment. A similar zero-interest financing program is also available for the purchase of home exercise systems.

Discounts and Time Savers 
Discounts are available to employees for auto and homeowners insurance, apartment rentals, cellular phone service, vacations, auto purchases, real estate commissions, mortgages, entertainment and much more.

Other Benefit Programs 
Some of the other benefits offered include short-term and long-term disability programs, adoption benefits, a company-paid retirement plan, retiree medical and life insurance benefits, a stock purchase plan,  and long-term care insurance.

 

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Corporate Headquarters:  400 North 5th Street, Phoenix, AZ 85004   (602) 250-1000   (800) 824-8101