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Claude Lopez is the president of Zebra Antiques. His employee, Dwight Francis, is due a raise. Dwight's current benefit analysis is as follows: Company
Claude Lopez is the president of Zebra Antiques. His employee, Dwight Francis, is due a raise. Dwight's current benefit analysis is as follows: Company Cost (Current) $ 8,000.00 120.00 Employee Cost (Current) $ 1,200.00 120.00 Yearly Benefit Costs Medical insurance Dental insurance Life insurance AD&D Short-term disability Long-term disability 401(k) Social Security Medicare Tuition reimbursement Total yearly benefit costs (employer) Employee's annual salary The Total value of employee's compensation 300.00 0 150.00 60.00 30.00 0 750.00 1,500.00 3,018.16 705.86 3,018.16 705.86 $ 2,000.00 $ 15,134.02 50,000.00 $ 65,134.02 Required: Compute the benefit analysis assuming: 3 percent increase in pay. Dwight will increase his 401(k) contribution to 8 percent with a company match of 50 percent up to 6 percent of the employee's annual salary. 15 percent increase in medical and dental insurance premiums. (Round your answers to 2 decimal places.)
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