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1987-07-27 Regular Meeting
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1987-07-27 Regular Meeting
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City Meetings
Meeting Body
City Council
Meeting Doc Type
Minutes
Date
7/27/1987
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<br />e <br /> <br />SECTION 125 CONTRIBUTION ANALYSIS <br /> <br />Part B - Estimated Employer Savings <br />From Section 125 Salary Redirection: <br /> <br />e <br /> <br />.....--- <br /> <br />------------------------------------------------------------------------------- <br />------------------------------------------------------------------------------- <br /> <br />% Employees Earning <br />Under $43,800 = 90.00% <br /> <br />Employee Contributions <br /> <br />Proposed EE <br />Contribution <br /> <br />------------------ <br /> <br />;;. A) EE On I y Coverage <br />B) EE + Ch t I d <br />C) EE + Spouse <br />D) EE + F am II y <br /> <br />$0.00 <br />$15.56 <br />$15.56 <br />$15.56 <br /> <br />Vol ume <br /> <br />235 <br />29 <br />15 <br />131 <br /> <br />Mo. Salary <br />Redirection <br /> <br />$0.00 <br />$451.24 <br />$233.40 <br />$2,038.36 <br /> <br />Total Redirected Salary <br />% Appl led Under FICA Limit <br />Net Redirected Salary <br /> <br />Employer Savings From FICA <br /> <br />Annual Salary <br />Redirection <br /> <br />$0.00 <br />$5,414.88 <br />$2,800.80 <br />$24,460.32 <br /> <br />--------------- <br />--------------- <br /> <br />$32,676.00 <br />90.00% <br />$29,408.40 <br /> <br />------------------------------------------------------------------------------- <br /> <br />$2,102.70 <br /> <br />General Input Assumptions: <br /> <br />$1,900 FIT Personal Exemption <br />1987 Federal Income Tax Tables <br />$2,570 Standard Single Deduction <br />$3,800 Standard Joint Deduction <br />7.15% FICA Tax Rate <br />$43,800 FICA Cell ing <br />
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