Sample Senarios |
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Here are some scenarios and how they play out:
1. Hourly employee started after 12/31/02 making 20.05 / hour, wants no pension and employee only healthcare coverage. | |||
| Current wage | $20.05 | ||
| Increase | $2.36 | ||
| New Wage | $22.41 | ||
| Pension election | 0% | (.00) | Healthcare election | 1% | (.22) | Net effective wage after benefits | $22.19 |
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2. Hourly employee started after 12/31/02 making 20.05 / hour, wants 12% total pension and employee plus 3 dependent healthcare coverage. | |||
| Current wage | $20.05 | ||
| Increase | $2.36 | ||
| New Wage | $22.41 | ||
| Pension election | 6% | (1.34) | Healthcare election | 2% | (.45) | Net effective wage after benefits | $20.62 |
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3. Hourly employee started before 12/31/02 making 20.05 / hour, wants no pension and employee only healthcare coverage. | |||
| current wage | $20.05 | ||
| Increase | $2.66 | ||
| New Wage | $22.71 | ||
| Pension election | 0% | (.00) | Healthcare election | 1% | (.23) | Net effective wage after benefits | $22.48 |
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4. Hourly employee started before 12/31/02 making 20.05 / hour, wants 15% total pension and employee plus 3 dependents healthcare coverage. | |||
| current wage | $20.05 | ||
| Increase | $2.66 | ||
| New Wage | $22.71 | ||
| Pension election | 7.5% | (1.70) | Healthcare election | 2% | (.45) | Net effective wage after benefits | $20.56 |
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5. Salaried employee started before 12/31/02 making 1875 / pay period, wants 15% total pension and employee plus 3 dependents healthcare coverage. | |||
| current wage | $1,875.00 | ||
| Increase | $234.38 | ||
| New Wage | $2,109.38 | ||
| Pension election | 7.5% | (158.20) | Healthcare election | 2% | (42.19) | Net effective wage after benefits | $1908.99 |
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6. Salaried employee started after 12/31/02 making 1875 / pay period, wants 12% total pension and employee plus 3 dependents healthcare coverage. | |||
| current wage | $1,875.00 | ||
| Increase | $206.25 | ||
| New Wage | $2,081.25 | ||
| Pension election | 6.0% | (124.88) | Healthcare election | 2% | (41.63) | Net effective wage after benefits | $1,914.74 |
| If you would like to see how your elections impact your wage, click here. | |||
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