1. Avery Company Benefits Plan
Welcome!
Avery Company Benefits Plan

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

3. 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)*
x 13 = $2,704

4. 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 = 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)

5. 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)/5 = 95,420
95,420 x = 1,431.30
1, x 25 = 35,782.50

6. Benefits!!! Vacation!!!