Leah works for Toffolon Technicians in New Hampshire, where she earns $29,400 an
ID: 2403286 • Letter: L
Question
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
Explanation / Answer
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
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