Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Compensation Report for the Year 2020 1. HR Manager Salary: 60,000 2. Bonus: 4% of annual salary 3. Paid Time Off: 20 days per
Compensation Report for the Year 2020 1. HR Manager Salary: 60,000 2. Bonus: 4% of annual salary 3. Paid Time Off: 20 days per year 4. Public Holidays recognized: 11 days 5. Benefits: 1. Health Insurance Monthly Premium: S600 for individual, $900 for Employee & Children & S1200 for Family coverage. Mary selected Family coverage. Employer pay 100% for employee and 50% for dependent coverage. H. Dental & Vision Insurance: Monthly Premium: S5o for individual, S75 for Employee & Children & $125 for Family coverage. Mary selected Family coverage. Employer pay 100% for employee and 50% for dependent coverage. lii. GAP Insurance: Monthly Premium: $75 for individual, S100 for Employee & Children & S125 for Family coverage. Mary selected Family coverage. Employer pay 100% for employee and 50% for dependent coverage. w. Short-Term & Long-Term Disability: Short-Term rate: 1.4% of annual salary & Long-Term rate of 3% of annual salary. Employer pays 75%, Employee pays 25% v. Group Life Insurance & ADD: Employers pay 100%. Rate 1.5% of total salary 6. Unemployment rate 0.85% 7. FICA 7.65% 8. Worker Comp rate: S0.68 per s100 of salary 9. Employer matches up to 4% of employee's contribution; Mary's contributes 5% to 40IK. 10. Cell phone allowance: S600 annually 11. Tuition Reimbursement: S1.000 per course, up to 3 courses per year. Mary took 9 courses in 2020 Required: Create a total compensation report: (100 Points) 1. Segregate report into the following sections: i. Earnings ii. Benefits a. Discretionary Benefits b. Statutory Benefits c. Retirements d. Other Company provided Benefits 2. Time off 3. Total Compensation Value 4. Include a pie chart showing the following: i. Earned Income ii. Company-paid benefits iii. Time Off
Step by Step Solution
★★★★★
3.52 Rating (165 Votes )
There are 3 Steps involved in it
Step: 1
Answer 1 i Earnings Benefits Earnings Salary 60000 Benefits Health Insurance 1200 Den...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started