Example Employee Pay Rate and H&W Hourly Pay Rate: …

[Pages:1]Example Employee Pay Rate and H&W

Hourly Pay Rate:

$25.00

SCA Health and Welfare (H&W) $4.27

Example 1: Benefit Election Costs Below H&W - Cash in Lieu of Benefits

Employee Benefit Elections:

Life, AD&D, STD, LTD

401k Employer Match (3%)

Medical not elected

Vision EE

Dental Buy Up EE

Total Cost of Elected Benefits

H&W Amount for 80 hour pay period

H&W Amount Remaining Paid as Cash

Example 2: Benefit Election Costs Exceed H&W - No Make Whole

Employee Benefit Elections:

Life, AD&D, STD, LTD

401k Employer Match (3%)

Medical - L48 HDHP HSA EE

Vision EE

Dental Buy Up EE

Total Cost of Elected Benefits

H&W Amount for 80 hour pay period

Total Deduction from Regular Wages

Example 3: Benefit Election Costs Exceed H&W - Make Whole

Employee Benefit Elections:

Life, AD&D, STD, LTD

401k Employer Match (3%)

Medical - L48 HDHP HSA EE Fam

Vision EE Fam

Dental Core EE Fam

Total Cost of Elected Benefits

H&W Amount for 80 hour pay period Company Adjustment/Make Whole Payment

Total Deduction from Regular Wages

$21.99 $60.00

$3.24 $20.75 $105.99 $341.60 $235.61

$21.99 $60.00 $223.33 $3.24 $20.75 $329.31 $341.60

$0

$21.99 $60.00 $702.37 $10.20 $49.64 $844.21 $341.60

$307.27 $195.34

UIC GOVERNMENT SERVICES DIVISION 4900 Seminary Road, Suite 1200, Alexandria, Virginia 22311 | Main: (703) 413-4226 | Fax: (703) 379-6880

A member of the Ukpeavik I?upiat Corporation family of companies

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