Employee’s total annual contribution is $1513.75
And, Employee’s monthly deduction is $126.15
Here,
Dorsey Williams has a single plan.
And, His PPO annual premium is $4,325.
His employer pays 65%.
We have to find the Employee’s total annual contribution.
And, Employee’s monthly deduction.
What is Annual contribution?
The amount credited to Account balance after the end of each Plan Year for which the Performance Goals are achieved is called Annual contribution.
Now,
His PPO annual premium is $4,325.
And, His employer pays 65%
Hence,
Employee’s total annual contribution = 4,325 (1 - 65%)
= 4,325 (35%)
= 4,325 x 35/100
= 1513.75
And, Employee’s monthly deduction = 1513.75 ÷ 12 = 126.15
Therefore, Employee’s total annual contribution is $1513.75
And, Employee’s monthly deduction is $126.15
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