Avery Company Benefits Plan

Slides:

Advertisements

Similar presentations

EMPLOYEE BENEFITS INTRODUCTION LEGALLY REQUIRED BENEFITS VOULNTARY BENEFITS PAID TIME OFF SURVIVOR BENEFITS FAMILY-FRIEND BENEFITS AN INTEGRATIVE PERESPECTIVE.

Advertisements

Human Resources Office of Job Changes and Your Benefits IT Job Family Study Employee Information Session May 2013.

Aim: Employee Benefits Course: Math Literacy Do Now: Name some non-monetary payments. Aim: What are other paid and non-paid income we receive, not necessarily.

Understanding Paychecks Where Does Your Money Go?.

Employee Benefits Companies must consider many personnel costs. These costs include employee benefits, such as health insurance and vacation days. What.

Chapter 8 Beginning a New JobSucceeding in the World of Work What You Can Expect From Your Employer 8.2 SECTION OPENER / CLOSER INSERT BOOK COVER ART Section.

Take-Home Pay The deductions taken out of your paycheck help support schools, roads, national parks, and more. Why do you think you have to pay taxes?

Chapter 8 Beginning a New JobSucceeding in the World of Work What You Can Expect From Your Employer 8.2 SECTION OPENER / CLOSER INSERT BOOK COVER ART Section.

Paycheck Vocabulary. April 12, 2016  Entry task: Write down as many money saving strategies that you can think of (list at least five)  Target: Identify.

Chapter 2 Net Income (page 114)

2.1 F EDERAL I NCOME T AX FIT: (Federal Income Tax) is money withheld by employers. Required by law Amount is dependent on how much is made Taxes are used.

Copyright 2016 © W. Seth Hunter ConsumerMath.org L7.1 Staffing Requirements Calculate staffing requirements for a manufacturing company. How many employees.

Lesson 1: Reading a Pay Stub. Objectives: Identify sections of a pay stub Determine how to calculate net pay Recognize various paycheck deductions.

SECTION 2-5 pp Group Health Insurance.

Policy updates Vacation Time Short Term Disability Sick Time.

Decision Making in Finance Paycheck Example

Getting Paid Advanced Level.

Aim: How can we understand how gross income becomes net income by analyzing our paycheck deductions? Do Now: Name and describe the three ways an employer.

Paychecks-What is all that stuff?

Pay, Benefits, and Incentives

What You Can Expect From Your Employer

DEFINED BENEFIT VS DEFINED CONTRIBUTION.

Journal You can choose whether you want to be paid $50,000 salary for the whole year of $20 an hour for however long you work. You will get time and a.

Getting Paid Advanced Level.

Double the Salary An employee starting a new job has the option to choose how he is paid for the first twenty days of work. He works five days a week,

Getting Paid Advanced Level.

Double the Salary An employee starting a new job has the option to choose how he is paid for the first twenty days of work. He works five days a week,

Create a Compensation Package

How to calculate Commission.

6.4A Employee benefits.

Getting Paid Advanced Level.

Getting Paid Advanced Level.

Section 5-4 Employee Benefits

Employee Benefits OBJECTIVES Unit 6.4

Getting Paid Advanced Level.

Warmup Roger started working for a new company. He gets 5 days paid vacation immediately. He gets another 5 days vacation for every 6 years he is at.

Getting Paid Advanced Level.

Money Management Chapter Six Notes Employee Pay and Benefits

WHAT TO KNOW BEFORE ACCEPTING A JOB OFFER

Exhibit 2.22 Among Firms With 3-50 Full-Time Equivalents (FTEs) Offering Health Benefits Who Looked at Coverage Through a SHOP Exchange, Reasons Why They.

Getting Paid Advanced Level.

Benefits Thursday, February 8th.

Getting Paid Advanced Level.

Computing Deductions on Your Paycheck

Payroll taxes and Paychecks Take Charge of your Finances

EMPLOYER TESTING On-Going Employees (one who has been with the employer for at least one standard measurement period) STANDARD MEASUREMENT PERIOD 3 – 12.

What are the benefits of a job in addition to pay?

Paycheck Vocabulary.

Cost of benefits to an employer

Comparison Options Plan Provisions Current 9 mth Faculty

Double the Salary An employee starting a new job has the option to choose how he is paid for the first twenty days of work. He works five days a week,

6 EMPLOYMENT BASICS 6-1 Look for Employment

Getting Paid Advanced Level.

Decision Making in Finance Paycheck Example

Getting Paid Advanced Level.

Getting Paid Advanced Level.

Getting Paid Advanced Level.

Paycheck Vocabulary.

Getting Paid Advanced Level.

Income Tax and Deductions

Avery Company Benefits Plan

Getting Paid Advanced Level.

Getting Paid Advanced Level.

Getting Paid Advanced Level.

Getting Paid Advanced Level.

Exhibit 2.21 Among Firms With 3-50 Full-Time Equivalents (FTEs) Not Offering Health Benefits Who Looked at Coverage Through a SHOP Exchange, Reasons Why.

Understanding Benefits

Presentation transcript:

Avery Company Benefits Plan Welcome! Avery Company Benefits Plan

Vocabulary: Benefits: Value –added options that employers may offer employees Examples: Health Insurance Life Insurance Disability Paid Vacation Time Retirement plans

Example 1: Alan works for a printing company. He makes $54,080 per year. He has worked for the company a little over 4 years. When Alan was hired he was given 5 days of paid vacation. For each year, he works, he receives 2 additional days of paid vacation to a max of 20 days. 1) How many days of paid vacation does Alan currently have after 4 years? 5 + (2x4) = 13 days 2) How much will he make during the time he is on vacation? 54080/260 *( Because there are 5 days in a work week x 52weeks)* 208.00 x 13 = $2,704

Example 2 Tina’s employer offers family health care. She contributes 12% of the cost and her employer covers the rest. Tina is paid biweekly and she notices that $88.50 is taken out of her paycheck for health insurance. How much does her employer contribute for her coverage? Paid biweekly = 26 pay checks 26 x 88.50 = 2,301 per year ( 12% of the total cost, Tina’s contribution) .12x = 2,301 X = 19,175 Solve for x Total health care coverage = $19,175 – 2,301 (Tina’s part) = $16,874 (Employer’s Part)

Example 3: As a retiring employee, Marina receives 1.5 % of her average salary for the last five years she worked for every year of employment with the company. Marina plans on retiring after 25 years. Her salaries for the last five years are $88,900, $92,200, $96,00, $98,000, and $102,000. Calculate Marina’s retirement salary? First, Find the average salary: (88,900+92,200+96,000+98,000+102,000)/5 = 95,420 95,420 x 0.015 = 1,431.30 1,431.30 x 25 = 35,782.50

Benefits!!! Vacation!!!