Financial

The 401(k) Plan is available to all team members (including temporary employees on the Sleep Number payroll). You are eligible to participate on your date of hire or as soon as administratively possible, usually after your first paycheck.

Contributing to the plan

• You may elect to make before-tax and/or Roth after-tax 401(k) contributions.
• The most you can contribute in 2023 is $22,500. If age 50+ you can contribute an additional $7,500.
• There are a variety of investment options available – including Sleep Number company stock.
• Sleep Number will match your contributions to the plan dollar for dollar up to the first 4% of eligible compensation that you contribute.
• You are always 100% vested in the money you contribute, including any rollover or transfer contributions you have made plus any earnings on that money.

Visit www.MillimanBenefits.com and view this Quick Start guide (English or Spanish) to get started in saving for your future!

To enroll for the first time, follow these instructions (English or Spanish).

Please note: You will not be able to login to the Milliman site until after you receive your first paycheck. For questions, contact Milliman directly at 866-767-1212.

See the Summary Plan Description or the plan prospectus for more information.

For general financial wellbeing tips and resources, visit www.healthyfinancialoutcomes.com.

Benefit-eligible team members (regular team members with standard hours in Workday of 24 hours or more) are eligible for life insurance benefits the first of the month following date of hire and can make plan changes during open enrollment or with a qualifying life event.

Basic Life Insurance:

Sleep Number automatically provides Basic Life and Accidental Death and Dismemberment (AD&D) Insurance coverage at no cost to you through Unum. The coverage is equal to 1x your annualized base pay according to your standard hours. Be sure to add beneficiaries during enrollment to designate who you want to receive your account balance in the event of your death.

Optional Life Insurance:

In addition to your company-paid Basic Life and AD&D Insurance, you can choose to purchase Optional Life Insurance (100% team-member paid) for you, your spouse, qualified domestic partner or your child(ren). With questions regarding Evidence of Insurability forms, call Unum at 1-866-779-1054.

Type of Coverage	How Much	Requirements
Team Member Optional Life Insurance	$10,000 increments to the lesser of 5 times your annual salary or $500,000	At initial eligibility, amounts exceeding $200,000 are subject to Evidence of Insurability (EOI). EOI requirements at Open Enrollment/Life Event Change: Increases to existing coverage over $40,000. Increases to current coverage that result in an annual election amount exceeding the Guarantee Issue amount of $200,000. Newly elected coverage of any amount.
Spouse Optional Life Insurance	$5,000 increments to $250,000. Not to exceed 50% of your Team Member Optional Life coverage amount	To elect, you must have Team Member Optional Life. At initial eligibility, amounts exceeding $50,000 are subject to EOI. All increases or new enrollments after initial eligibility require EOI.
Child Optional Life Insurance	$1,000 increments to $10,000	To elect, you must have Team Member Optional Life. EOI is not applicable.

The cost of the Team Member or Spouse/Domestic Partner Optional Life Insurance depends on the age of the team member, smoking status and the amount of insurance, as outlined below:

Don’t worry, we have many resources to help!

• Evidence of Insurability (EOI) can be completed in Workday
• Summary Plan Description
• Contact Unum:
  • Website: www.unum.com/employees
  • Phone: 1-866-779-1054

Cost:

Sleep Number automatically provides this benefit at no cost to you, administered through Unum.

When do payments begin:

If approved for Short-Term Disability, there is a three-day wait before benefits begin, which is referred to as the elimination period. A team member’s Short-Term Disability benefits will begin on the 4th calendar day (once the leave of absence/disability approval process is complete). During the elimination period, you should use Sick Time to continue earnings for the time that you are sick or disabled and not at work.

What you get paid:

After you satisfy the elimination period, you may receive up to 100% of your weekly eligible earnings for the first 8 weeks of qualified disability and then 60% of earnings for the remaining period of the qualified disability. The definition of eligible earnings is the team member’s weekly base pay according to standard hours (not to include commissions or bonuses). Disability payments are taxable.

For Maternity/Parental leaves, click here.

See Summary Plan Descriptions for additional details.

Reporting an absence and more information

Please report your absence to your supervisor or manager and your Human Resources Business Partner in advance when possible, or as soon as possible if advance notice is not possible.

If one of the following scenarios applies to your situation, please report your absence to Unum:

• You will be absent for more than three days and are under a physician’s care.
• You are hospitalized for any amount of time.
• You will be absent periodically due to a chronic or permanent disabling condition of your own.

How can I report an absence or disability?

Call Unum at 866-779-1054 Monday through Friday from 7 a.m. to 7 p.m. Central, or visit www.unum.com/employees.

More useful information

• For details, see the Unum Leave Request Brochure.
• For details, please see the Team Member Handbook or this leave quick start guide.
• For Maternity/Parental leaves, click here.

Cost:

Sleep Number automatically provides this benefit at no cost to you, administered through Unum.

When do payments begin:

There is a 180-day waiting period before Long-Term Disability benefits begin, which is referred to as the elimination period. If you are unable to work due to an illness or injury, you may be eligible for Long-Term Disability benefits on the 181st day that you are unable to work.

What will you get paid:

You may receive up to 60% of your monthly eligible earnings, up to a maximum benefit of $10,000 per month. The definition of eligible earnings is the team member’s weekly base pay according to standard hours. Disability payments are taxable.

See Summary Plan Descriptions, Summary Plan Description Director and above.

Reporting an absence, and more information

Please report your absence to your supervisor or manager and your Human Resources Business Partner in advance when possible, or as soon as possible if advance notice is not possible.

If one of the following scenarios applies to your situation, please report your absence to Unum:

• You will be absent for more than three days and are under a physician’s care.
• You are hospitalized for any amount of time.
• You will be absent periodically due to a chronic or permanent disabling condition of your own.

How can I report an absence or disability?

Call Unum at 866-779-1054 Monday through Friday from 7 a.m. to 7 p.m. Central, or visit www.unum.com/employees.

More useful information

• For details, see the Unum Leave Request Brochure.

• For details, please see the Team Member Handbook or this leave quick start guide.

• For Maternity/Parental leaves, learn about our policies here.

You may be eligible for up to 12 weeks of FMLA leave or Sleep Number Family and Medical Leave (SNFML). You may be eligible for state protections that run concurrent with FMLA or SNFML.

Short-Term Disability (Pregnancy Disability):

Eligible the first of the month after three months of service, you are eligible for 100% of base pay for 6 weeks, or 8 weeks for C-section deliveries. Payments begin after a three-day elimination period applies; Sick time must be used for these three days.

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Paid Parental Bonding Leave*:

Primary Paid Parental Bonding Leave – 100% of base pay for 6 weeks

Or

Secondary Paid Parental Bonding Leave – 100% of base pay for 2 weeks

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Sick Time (and Vacation hourly team members and store managers) can be used at your discretion during your protected time off

* Paid Parental Leave:

• Eligible to benefit-eligible team members (regular team members with standard hours in Workday of 24 hours or more) at date of hire for bonding related to birth, adoption or foster placement of a minor child.
• Eligible for 100% of your base pay for up to 6 weeks for primary caregivers and 2 weeks for secondary caregivers.
• Leave must be taken within 6 months of birth, adoption or placement.
• Primary caregiver is defined as a team member who has the greatest and ongoing responsibility for the daily care and rearing of the newborn or newly adopted or newly placed foster minor child following the child’s arrival. This could be, for example, a biological, adoptive, or foster parent, or the child’s legal guardian.
• Secondary caregiver is defined as a team member who becomes a parent of a newborn or a newly adopted or newly placed foster child and who is not designated as the primary caregiver of the newborn or newly adopted or fostered minor child.
• Leave must be continuous, meaning you take the paid leave all at one time.
• Leave must be taken concurrently with other leaves such as FMLA or Sleep Number Family and Medical Leave (following any disability period in the case of pregnancy disability).
• Available to both parents if they are both eligible Sleep Number team members, only one partner can take Primary Parental Leave.
• One leave can be taken in a rolling 12-month period.

To request a leave, please contact Unum, our leave administrator, at 866-779-1054 and notify your manager of your request. Please review the leave quick start guide for additional details.

Sleep Number has partnered with Amma Parenting to provide team members and grandparents with free education and support, which is essential to your emotional and physical wellbeing when welcoming a new little one. Take courses, virtually or in-person, such as labor skills, infant CPR, breastfeeding 101 or infant sign language. Amma’s new parent groups are also a wonderful way to meet members of your community that share a common thread. Grandparents can find classes for a refresher in preparing for a new grandchild.

Leave is available for up to 12 weeks if you have a serious health condition or need to care for someone that has a serious health condition as defined by the FMLA. Medical documentation is required for this leave and must be received and approved by Unum. This leave is unpaid; however, you may have the ability to replace your income through Short-Term Disability or Sick Time. You are eligible for this leave after 1,250 hours and one year of service.

This leave is an option for benefit-eligible team members not yet eligible for FMLA. Leave is available for up to 12 weeks if you have a serious health condition, or you need to care for someone who has a serious health condition (as defined by the FMLA) that prevents you from working. Medical documentation is required for this leave and must be received and approved by Unum. This leave is unpaid; however, you may have the ability to replace your income through Short-Term Disability or Sick Time. If eligible, SNFML will run concurrently with FMLA.

Emergency leave is an unpaid leave, up to 30 days, for unexpected situations lasting more than two weeks, such as COVID-19 household quarantine, temporary location closures, or could also be used for those at higher risk of severe illness from COVID-19. Medical documentation is required for this leave and must be received and approved by Sleep Number. This leave is unpaid; however, you may have the ability to replace your income through Covid Supplemental Pay or through Sick Time. Extensions are at the discretion of Sleep Number.

Personal leave is an unpaid leave, up to 30 days, used for non-personal medical conditions such as childcare needs and some caregiving situations. Medical documentation is not required for this leave. This leave is reviewed and approved by your leader taking into consideration your situation and business need. This leave is primarily for hourly team members and store managers and is unpaid; however, eligible team members can replace your income through available paid time off such as Sick Time or Vacation Time. Extensions are at the discretion of Sleep Number. You are eligible for this leave if you are benefits-eligible.

At the end of your approved time on any leave, your leader and HRBP will discuss your options. Any active benefits, including Life Insurance and Disability coverage, will end after 12 weeks of being on an unpaid leave or after 12 months if on approved disability leave.

Reporting an absence and more information

Please report your absence to your supervisor or manager and your Human Resources Business Partner in advance when possible, or as soon as possible if advance notice is not possible.

If one of the following scenarios applies to your situation, please report your absence to Unum:

• You will be absent for more than three days and are under a physician’s care.
• You are hospitalized for any amount of time.
• You will be absent periodically due to a chronic or permanent disabling condition of your own.

How can I report an absence or disability?

Call Unum at 866-779-1054 Monday through Friday from 7 a.m. to 7 p.m. Central, or visit www.unum.com/employees.

More useful information

• For details, see the Unum Leave Request Brochure.
• For details, please see the Team Member Handbook or this leave quick start guide.
• For Maternity/Parental leaves, click here.

As you grow your family, Sleep Number provides a benefit to assist with adoption expenses.

How does it work?

If you are benefit-eligible (regular team members with standard hours in Workday of 24 hours or more), you are eligible for adoption assistance. Sleep Number will reimburse team members for the costs of adopting a child up to $5,000 per adoption, with a limit of three adoptions per team member. The adoption must be finalized, and documentation must be provided to support the reimbursement request.

Examples of eligible adoption expenses:

• Agency and placement fees
• Legal Fees and court costs
• Travel Expenses (team member only)

See the Team Member Handbook for the Adoption Assistance policy and use this form to request reimbursement.

Benefit-eligible team members who travel on company business are covered under our Business Travel Accident Insurance policy. Under this policy, you may have an additional $100,000 in life insurance coverage in the event of your death while traveling on company business.

Benefit-eligible team members also have access to Unum's travel assistance services provided by Assist America, Inc., which offers you and your dependents medical and travel assistance services, 24 hours a day, 365 days a year. Any time you are more than 100 miles away from home, you and your dependents can access the service by calling 1-800-872-1414 within the U.S. and +609-986-1234 outside the U.S. (collect) or via email medservices@assistamerica.com. Services include medical and dental referrals, coordination of hospital admission and much more. Reference Number 01-AA-UN-762490.

MN HQ team members – Click here to learn about three subsidized pre-tax parking/transit options.

SleepIQ and Manhattan, NY team members – contact your HR Business Partner for more information.

Access accredited financial consultants who provide consultations regarding credit management, budget analysis, home buying, mortgage/refinancing evaluation, retirement planning, 401(k) plan questions, basic estate planning, and questions about tax planning and preparation. For more information go to www.unum.com/lifebalance or call 1-800-854-1446.

• AT&T, Verizon and T-Mobile discounts. Some roles maybe also be eligible for a personal technology reimbursement.
• Dell computer discounts
• Technology allowance for certain roles and states; see the Team Member Handbook for more information.

You can use a tax-advantaged FSA to pay for eligible dependent or healthcare expenses. Contribution amounts are determined by the IRS.
Learn more

Benefit-eligible team members who require representation can be referred to a qualified attorney in your area for a free 30-minute consultation with a 25% reduction in customary legal fees thereafter. Call any time with legal issues including:

• Divorce and family law
• Debt obligations
• Landlord and tenant issues
• Real estate transactions
• Prepare a final arrangements document
• Bankruptcy
• Criminal actions
• Civil lawsuits
• Contracts

For more information go to www.unum.com/lifebalance or call 1-800-854-1446.

Click here to learn about how you can request financial assistance following a personal crisis, hardship or natural disaster.

Click here to learn more about tuition reimbursement.