Henry earns $68,000 per year, receives 15 days PTO, 8% retirement matching, Employee Benefits Health Insurance 70% FICA 7.65% and receives 70% employer-subsidized health insurance which totals $10,000. Calculate the benefit rate. Paid Vacation 15 days (PTO) Retirement 8% Matching A. 22% В. 34% C. 68% D. 32%
Henry earns $68,000 per year, receives 15 days PTO, 8% retirement matching, Employee Benefits Health Insurance 70% FICA 7.65% and receives 70% employer-subsidized health insurance which totals $10,000. Calculate the benefit rate. Paid Vacation 15 days (PTO) Retirement 8% Matching A. 22% В. 34% C. 68% D. 32%
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Henry earns $68,000 per
year, receives 15 days PTO,
8% retirement matching,
Employee Benefits
Health Insurance
70%
FICA
7.65%
and receives 70%
employer-subsidized
health insurance which
Paid Vacation
15 days
(PTO)
totals $10,000. Calculate
the benefit rate.
Retirement
8%
Matching
A. 22%
В. 34%
C. 68%
D. 32%
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Expert Solution
Step 1
The term employee benefits means the extra compensation provided by the employer to their employees as a part of the contract. Some benefits are mandatory for the employer to provide the employee; on the other hand, some of the benefits are provided by the employer at their will. Benefits are the types of incentives that the employer aims to increase the happiness and decrease the chances of the resignations of the employees. For employees, these benefits increase the value of their job.
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