Kai is the president of Zebra Antiques. An employee, Reese Francis, is due a raise. Reeses current
Question:
Kai is the president of Zebra Antiques. An employee, Reese Francis, is due a raise. Reese’s current benefit analysis is as follows:
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.
Transcribed Image Text:
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 Company Cost (Current) $ 8,000.00 120.00 300.00 150.00 60.00 30.00 750.00 3,018.16 705.86 2,000.00 15,134.02 50,000.00 The total value of employee's compensation $65,134.02 Employee Cost (Current) $ 1,200 120 -0- -0- -0- -0- 1,500 3,018.16 705.86 -0-
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Related Book For
Payroll Accounting 2023
ISBN: 9781264415618
9th Edition
Authors: Jeanette M. Landin, Paulette Schirmer
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