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I'ive tried looking at the way others do their calculation but I'm still confused. Kai is the president of Zebra Antiques. An employee, Reese Francis,
I'ive tried looking at the way others do their calculation but I'm still confused.
Kai is the president of Zebra Antiques. An employee, Reese Francis, is due a raise. Reese's current benefit analysis is as follows: 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 Required: Compute the benefit analysis assuming: .3 percent increase in pay. Company Cost Employee Cost (Current) (Current) $ 7,700.00 $ 1,155.00 210.00 210.00 408.00 0 204.00 81.60 0 40.80 0 1,020.00 2,040.00 4,131.37 4,131.37 966.21 966.21 2,900.00 $ 17,661.98 68,000.00 $ 85,661.98 Reese will increase the 401(k) contribution to 8 percent with a company match of 50 percent up to 3 percent contribution by the employer. . 15 percent increase in medical and dental insurance premiums. Note: Round your answers to 2 decimal places.
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