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what is the 1 year financial goal for an employee?
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- Which of the following compensation will be subject to graduated rates? a) Basic salary whether or not the employee is a minimum wage earner. b) Basic salary only if the employee is not a minimum wage earner. c) 13th month pay and other benefits not exceeding P90,000. d) Fringe benefits received by supervisory or managerial employeeFrom an employee perspective, how would you handle salary negotiations where you are offered options with a 4 year vesting period and a 2 year cliff?Imagine you are an employer (an awesome one). When should you recognize short-term employee benefits? * A. Every 15th and 30th of the month. B. Every 1st day of the month C. Never! D. When the employees have rendered service in exchange for the employee benefits.
- Give typing answer with explanation and conclusionAn employer uses a career average formula to determine retirement payments to its employees. The annual retirement payout is 8 percent of the employees’ career average salary times the number of years of service. Calculate the annual benefit payment under the following scenarios. Years Worked Career Average Salary 27 $ 68,000 30 70,500 32 72,000What are the benefits provided by Employee Retirement Income Security Act?
- An option that makes your claim to retirement benefits contingent on how long you have worked for the company. a) Vesting b) Maturity c) Qualifying d) EntitlementAccording to PAS 19, short-term employee benefits are recognized a. at each year-end b. at each month-end c. on a semi-monthly basis d. when an employee has rendered service in exchange for those benefits.These are employee benefits (other than termination than termination benefits) which are payable after the completion of employment a. Short term b. Other long-term c. Share-based d. Post-employment
- How much is the net income in 2021?Critical Thinking 6 - 2 (Algo) Kai is the president of Zebra Antiques. An employee, Reese Francis, is due a raise. Reese's current benefit analysis is as follows: Yearly Benefit Costs Company Cost (Current) Employee Cost (Current) Medical insurance $ 6,800.00 $ 1,020.00 Dental insurance 165.00 165.00 Life insurance 354.00 0 AD&D 177.00 0 Short-term disability 70.80 0 Long - term disability 35.40 0 401(k) 885.00 1, 770.00 Social Security 3, 584.53 3, 584.53 Medicare 838.32 838.32 Tuition reimbursement 2,450.00 0 Total yearly benefit costs (employer) $ 15,360.05 Employee's annual salary 59,000.00 The total value of the employee's compensation $ 74,360.05 Required: Compute the benefit analysis assuming: 3 percent increase in pay. Reese will increase the 401(k) contribution to 8 percent with a company match of 50 percent up to a 3 percent contribution by the employer. 15 percent increase in medical and dental insurance premiums. Note: Round your answers to 2 decimal places.\Explain how Social Security benefits are calculated and how much you need to work each quarter to be eligible for a "credited quarter" of benefits.