Leah works for Toffolon Technicians in New Hampshire,where she earns $30,000 annually.She contributes 3% to her 401(k),of which her employer matches 1.5%.Her employer contributes $200 per month for her health insurance,$50 per month for her life insurance,and $25 per month for her AD&D insurance.Toffolon Technicians pays employer-only taxes and insurance that comprises an additional 15% of Leah's annual salary.What is Leah's total annual compensation?

Question

Quizplus · Accepted Answer

Leah's total annual compensation can be calculated as follows:

Base salary: $30,000
401(k) contribution: -$900 (3% of $30,000)
Employer 401(k) match: +$450 (1.5% of $30,000)
Health insurance: +$2,400 ($200/month x 12 months)
Life insurance: +$600 ($50/month x 12 months)
AD&D insurance: +$300 ($25/month x 12 months)
Employer-only taxes and insurance: +$4,050 (15% of $30,000)

Total annual compensation: $38,250

Leah Works for Toffolon Technicians in New Hampshire,where She Earns