Employee Cost Comparison
Current Pay
|
|
Current Pay |
$50,000.00 |
|
ASRS Contribution |
11.39% |
$ (5,695.00) |
|
FICA |
7.65% |
$ (3,825.00) |
|
Current Pay |
$40,480.00 |
Retirement + ESI Pay
|
|
ASRS pension 30 years of service w/no joint & survivor ($50,000 average) |
$34,500.00 |
|
ASRS contribution |
0.00% |
- - |
|
FICA |
0.00% |
- - |
|
ASRS pension |
$34,500.00 |
Plus
|
|
ESI pay (% of last year's contract) |
80% |
$40,000.00 |
|
FICA |
7.65% |
$ (3,060.00) |
|
Health insurance |
$400/month - $150 ASRS subsidy |
$ (3,000.00) |
|
ESI pay |
$ 33,940.00 |
|
Total ESI pay |
ASRS pension + ESI pay |
$ 68,440.00 |
|
ESI increase in pay |
Total ESI pay - current pay |
$27,960.00 |
|
Immediate raise of |
69% |
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