wyatt earns $65,000 per year, receives 15 days pto, 6% retirement matching, and receives 60% employer…

wyatt earns $65,000 per year, receives 15 days pto, 6% retirement matching, and receives 60% employer - subsidized health insurance which totals $10,000. calculate the benefit rate.\n\nemployee benefits\nhealth insurance 60%\nfica 7.65%\npaid vacation (pto) 15 days\nretirement matching 6%\n\nround to the nearest percentage point.

wyatt earns $65,000 per year, receives 15 days pto, 6% retirement matching, and receives 60% employer - subsidized health insurance which totals $10,000. calculate the benefit rate.\n\nemployee benefits\nhealth insurance 60%\nfica 7.65%\npaid vacation (pto) 15 days\nretirement matching 6%\n\nround to the nearest percentage point.

Answer

Explanation:

Step1: Calculate health - insurance benefit amount

The total health - insurance cost is $10000$, and the employer subsidizes 60%. So the health - insurance benefit amount is $10000\times0.6=$6000$.

Step2: Calculate PTO benefit amount

There are 260 working days in a year (assuming a 5 - day workweek for 52 weeks). The PTO is 15 days. The daily salary is $\frac{65000}{260}=$250$. So the PTO benefit amount is $15\times250 = $3750$.

Step3: Calculate retirement - matching benefit amount

The retirement - matching is 6% of the annual salary. So the retirement - matching benefit amount is $65000\times0.06=$3900$.

Step4: Calculate total benefits

The total benefits are $6000 + 3750+3900=$13650$.

Step5: Calculate benefit rate

The benefit rate is $\frac{13650}{65000}\times100% = 21%$.

Answer:

21%