Benefits-Calculation-Workheet 2018.xls
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GENERAL SYNOD ARP CHURCH
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GUIDE FOR CALCULATING ANNUAL BENEFIT COSTS – 2018
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Participant (Enter Name):
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ANNUAL EARNINGS CALCULATION
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Select by marking with X
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A. Enter Annual Base Salary
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YESNO
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B. IS MANSE OR APARTMENT PROVIDED? (If Manse is provided, add 40% of BASE SALARY.)
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C. HOUSING/UTILITY ALLOWANCE PAID TO PARTICIPANT*
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D. AUTO/TRAVEL ALLOWANCE PAID TO PARTICIPANT*
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E. SOCIAL SECURITY ALLOWANCE PAID TO PARTICIPANT
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F. OTHER ALLOWANCES PAID TO PARTICIPANT*
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G. TOTAL ANNUAL EARNINGS (Add "A" Through "F")
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* Do not include reimbursements under an "Accountable Expense Reimbursement Plan"
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ANNUAL RETIREMENT PLAN CONTRIBUTION CALCULATION (01/01/2018 – 12/31/2018)
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YESNO
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H. DOES EMPLOYEE PARTICIPATE IN ARP RETIREMENT PLAN?
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I. RETIREMENT PLAN COVERED EARNINGS: Lesser of $120,000 or the Total from G**
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**2016 IRS maximum earnings for Retirement Plan is $120,000 (2018 figure to be announced Oct 2017)
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J. CONTRIBUTION RATE FOR ACTIVE PARTICIPANTS12%
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K. ANNUAL CONTRIBUTION ("I" x “J”)
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ANNUAL INSURANCE PREMIUM CALCULATION – Rates Effective: January 1, 2018
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YESNO
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IS THE EMPLOYEE FULL-TIME (WORKS AT LEAST 30 HOURS PER WEEK)?
If no, is ineligible.
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COVERAGE AREASelect Coverage (X)Annual Rates Enter Cost
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Medical (Choose One)
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L. Employee Only $ 8,192.64
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M. Employee + 1 $ 16,385.40
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N. Employee and Family $ 20,235.84
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Dental (Choose One)
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O. Employee Only $ 532.32
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P. Employee + 1 $ 1,064.52
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Q. Employee and Family $ 1,514.40
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Employee Term Life and Accidental Death*** (Choose R or S)Select Coverage (X)
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R. Hourly Employee ($20,000 Coverage) $ 59.04
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S. Salaried Employee ($50,000 Coverage) $ 147.60
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***coverage for those under age 70. If over age 70, coverage and premiums are decreased by 35%)
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T. Dependent Life (If Participant has Dependents)
Spouse - $5,000; Dependents Over 6 Mo. -
$2,500. Dependent 15 days to 6 Mo - $200.
$ 18.00
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Long Term Disability (LTD) - Lesser of $150,000 or Total Earnings (item "G") from above.****
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Earnings from aboveRate
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U. Annual Earnings (From "G" above) $ 0.00440
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TOTAL ANNUAL INSURANCE COST (Sum of All Items Entered)
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**** Maximum earnings for LTD is $150,000
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TOTAL PACKAGE (Retirement and Insurance)
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Revised 07/12/2017
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Benefit Election