John works for Heinlein Hillclimbers in Wyoming,where he earns $26,500 annually.He contributes $150 per month to his 401(k),of which his employer matches half of his contribution.Heinlein Hillclimbers contributes $150 per month to his health insurance,$30 per month to his life insurance,and $50 per month to his AD&D policy.He receives a 2% profit-sharing bonus at the end of each year and $5,250 in tuition reimbursement.Heinlein pays employer-only taxes and insurance that comprises an additional 18% of John's annual salary.What is John's total annual compensation?

Question

Quizplus · Accepted Answer

John's total annual compensation includes his salary, employer 401(k) match, health, life, and AD&D insurance contributions, profit-sharing bonus, tuition reimbursement, and employer-only taxes and insurance. Calculating these: $26,500 (salary) + $900 (401(k) match) + $2,280 (insurance contributions) + $530 (profit-sharing bonus) + $5,250 (tuition reimbursement) + $4,770 (employer taxes and insurance) = $40,710.

John Works for Heinlein Hillclimbers in Wyoming,where He Earns $26,500