Compute the benefit analysis assuming:
3 percent increase in pay.
Reese will increase the 401(k) contribution to 8 percent with a company match of 50 percent up to a 3 percent contribution by the employer.
15 percent increase in medical and dental insurance premiums.
Kai is the president of Zebra Antiques. An employee, Keese Francis, is due a raise. Keese's current benefit analysis is as follows:
able[[Yearly Benefit Costs, able[[Company Cost],[(Current)]], able[[Employee Cost],[(Current)]]],[Medical insurance,$8,000.00,$1,200.00],[Dental insurance,$120.00,$120.00],[Life insurance,$300.00,$0],[AD&D,$150.00,$0],[Short-term disability,$60.00,$0],[Long-term disability,$30.00,$0],[401(k),$750.00,$1,500.00],[Social Security,$3,018.16,$3,018.16],[Medicare,$705.86,$705.86],[Tuition reimbursement,$2,000.00,$0],[Total yearly benefit costs (employer),$15,134.02,],[Employee's annual salary,$50,000.00,],[The total value of the employee's compensation,$65,134.02,]]
Required:
Compute the benefit analysis assuming:
3 percent increase in pay.
Reese will increase the 401(k) contribution to 8 percent with a company match of 50 percent up to a 3 percent contribution by the employer.
15 percent increase in medical and dental insurance premiums.
Note: Round your answers to 2 decimal places.
able[[, able[[Company Cost],[(New)]], able[[Employee Cost],[(New)]]],[Medical insurance,$9,200.00,$1,380.00]]
Kai is the president of Zebra Antiques. An employee, Keese Francis, is due a raise. Keese's current benefit analysis is as follows:
able[[Yearly Benefit Costs, able[[Company Cost],[(Current)]], able[[Employee Cost],[(Current)]]],[Medical insurance,$8,000.00,$1,200.00],[Dental insurance,$120.00,$120.00],[Life insurance,$300.00,$0],[AD&D,$150.00,$0],[Short-term disability,$60.00,$0],[Long-term disability,$30.00,$0],[401(k),$750.00,$1,500.00],[Social Security,$3,018.16,$3,018.16],[Medicare,$705.86,$705.86],[Tuition reimbursement,$2,000.00,$0],[Total yearly benefit costs (employer),$15,134.02,],[Employee's annual salary,$50,000.00,],[The total value of the employee's compensation,$65,134.02,]]
Required: Compute the benefit analysis assuming:
3 percent increase in pay. Reese will increase the 401(k) contribution to 8 percent with a company match of 50 percent up to a 3 percent contribution by the employer. 15 percent increase in medical and dental insurance premiums.
Note: Round your answers to 2 decimal places.
able[[, able[[Company Cost],[(New)]], able[[Employee Cost],[(New)]]],[Medical insurance,$9,200.00,$1,380.00]]
Yearly Benefit Costs
Medical insurance
