Leah works for Toffolon Technicians in New Hampshire, where she earns $29,400 annually. She contributes 3.5%...

Leah works for Toffolon Technicians in New Hampshire, where she earns $29,400 annually. She contributes 3.5% to her 401(k), of which her employer matches 1.75%. Her employer contributes $150 per month for her health insurance, $40 per month for her life insurance, and $30 per month for her AD&D insurance. Toffolon Technicians pays employer-only taxes and insurance that comprises an additional 17% of Leah’s annual salary. What is Leah’s total annual compensation?

A. 37552.5

B. 38581.5

C. 29400

D. 36523.5

Solutions

Expert Solution

Answer A. $37,552.50

Annual Salary		29,400.00
Employer Contribution:
401(k) - $29,400 X 1.75%	514.50
Health Insurance - $150 X 12	1,800.00
Life Insurance - $40 x 12	480.00
AD&D Insurance - $30 X 12	360.00
Taxes & Insurance - $29,400 X 17%	4,998.00	8,152.50
Total Compensation		37,552.50

ekkarill92 answered 2 years ago

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