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Fringe Benefits
2005
The following breakdown represents the estimated value of so-called fringe benefits accruing to operating employees with annual wages of $90,000/$66,900*
or more during the calendar year of 2005. The money values set forth are computed on costs actually known as of January 2005.
| |
PAID BY THE CARRIER |
PER YEAR
|
# DURING MONTH |
| |
Railroad Retirement Tier 1 (6.20%) |
$5,580.00
|
$ 465.00
|
| |
Railroad Retirement Tier 2 (12.60%) |
8,429.40
|
702.45
|
| 1/ |
Unemployment (RUIA) |
765.96
|
63.83
|
| 4/ |
Health Plan (GA-23000) (Inc.Life/AD&D) |
11,318.52
|
943.21
|
| |
Health Plan - Retiree (GA-46000) |
1,086.84
|
90.57
|
| |
Dental Plan (GP-12000) |
566.40
|
47.20
|
| |
Vision Plan |
130.08
|
10.84
|
| 2/ |
Vacations |
3,008.00
|
250.67
|
| 2/ |
Holidays |
1,569.52
|
130.79
|
| 3/ |
Other |
662.55
|
55.21
|
| |
|
$ 33,117.27
|
$2,759.77
|
| |
|
|
|
RAILROAD RETIREMENT TAX
Tier 1 (6.2%) |
$ 5,580.00
|
$ 465.00
|
PAID BY EMPLOYEE
Tier 2 (4.4%) |
$ 2,943.60
|
$ 245.30
|
| |
$ 8,523.60
|
$ 710.30
|
|
|
| * |
$90,000 represents the minimum annual wage subject to a maximum railroad retirement Tier 1 tax.
$66,900 represents the minimum annual wage subject to the maximum railroad retirement Tier 2 tax.
Medicare is taxed at a rate of 1.45% with no annual maximum applicable. |
| @ |
Supplemental Pension eliminated by Railroad Retirement & Survivors Improvement Act of 2001. |
| # |
Per year total divided on a pro-rata basis per calendar month and rounded to the nearest 1 cent equivalent. |
| 1/ |
This tax requirement will vary from year to year based upon the individual railroad's experience rating. The amount shown here is based on the Tax
Rate of 5.55% and based on employee earnings of not more than $1,150.00 per month and $13,800.00 per year. The maximum rate is 12.5%. |
| 2/ |
Taxable to employee as income. |
| 3/ |
Includes jury duty pay, bereavement pay, $300,000 AD&D and liability insurance as part of the Off-Track Vehicle Accident provisions, along with
other miscellaneous items attributable to fringe benefits. |
| 4/ |
Employee contribution to Health Plan is $76.68 covering the period January 1996 to July 1998.
Employee contribution to Health Plan is $167.22 covering the period July 1998 to December 31, 1999.
Employee contribution to Health Plan is $.04/hour COLA offset effective December 31, 1999.
Employee contribution to Health Plan is $119.61/month effective November 1, 2003.
Employee contribution to Health Plan is $100.00/month effective July 1, 2004. |
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| NOTE: |
Current information on Vacations, Holidays and Other no longer available. Information from 1987. |
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953