Employer Administrative Services Company
An Example...

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An Example...

Number of Employees 100 % Increase Year 2 % Increase Year 3
Average Monthly Salary $4,000.00 4% $4,160.00 4% $4,326.40
Average Workers Comp Rate 15% 10%   10%  
EE Benefits premiums $250.00 10% $275.00 10% $302.50
Dependent Premiums * assumes 25% participation $350.00 10% $385.00 10% $423.50
     
Total Monthly Payroll $400,000   $416,000   $432,640
Payroll Taxes * 23% 26% 30%
Total Payroll Taxes                  * Which Includes Workers Comp and Social Security $92,000 $108,160 $129,792
Employee Insurance Premiums $25,000 $27,500 $30,250
     
Total Salary, Taxes & Benefits Cost $517,000   $551,660   $592,682
           
Cafeteria Plan Installed      enrollment with an average of Salary Reduction       * Assumes 50% $400.00 Monthly                 Plan Changes Cost Reduced Insurance 15%  
Total Monthly Payroll $400,000 $416,000 $432,640
Payroll Reduction 50% EE's x $400.00 $20,000.00 $20,000.00 $20,000.00
Adjusted Monthly Payroll $380,000 $396,000 $412,640
Payroll Taxes 23% 26% 30%
Adjusted Payroll Taxes $87,400 $102,960 $123,792
Insurance Premium Reduction * 15% Savings based on Plan Changes $3,750 $4,125 $4,538
Adjusted Insurance Premiums $21,250 $23,375 $25,713
Adjusted Total Salary, Taxes & Benefits Cost $488,650   $522,335   $562,145
Cafeteria Plan Payments $20,000 $20,000.00 $20,000.00
Monthly Payroll Savings $8,350   $9,325   $10,538
Yearly Savings $100,200   $111,900   $126,450
           
 

Benefits Cost and Workers Comp Rates are Rising....

What is your company going to do???

 

Employer Administrative Services Company
2455 Bennett Valley Road, Suite B303
Santa Rosa, CA 95404
707-546-4570