Question: Compute the benefit analysis assuming: 3 percent increase in pay. Reese will increase the 4 0 1 ( k ) contribution to 8 percent with

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 Lebra Antques. An employee, Keese rrancis, is due a ralse. Keese's current benett analysis is as tollows:
\table[[Yearly Benefit Costs,\table[[Company Cost],[(Current)]],\table[[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.
\table[[,\table[[Company Cost],[(New)]],\table[[Employee Cost],[(New)]]],[Medical insurance,9,200.00,1,380.00]]
 Compute the benefit analysis assuming: 3 percent increase in pay. Reese

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!