Fringe
Benefits
2003
The following breakdown represents the estimated value of so-called
fringe benefits accruing to operating employees with annual wages of
$87,000/$64,500* or more during the calendar year of 2003. The money values set forth are computed on
costs actually known as of January 2003.
|
PAID BY THE CARRIER |
PER YEAR |
# DURING MONTH |
|
Railroad Retirement Tier 1 (6.20%) |
$5,394.00 |
$ 449.50 |
|
Railroad Retirement Tier 2 (14.20%) |
9,159.00 |
763.25 |
1/ |
Unemployment (RUIA) |
745.92 |
62.16 |
4/ |
Health Plan (GA-23000) (Inc.Life/AD&D) |
10,499.40 |
874.95 |
|
Health Plan - Retiree (GA-46000) |
788.76 |
65.73 |
|
Dental Plan (GP-12000) |
626.40 |
52.20 |
|
Vision Plan |
103.32 |
8.61 |
2/ |
Vacations |
3,008.00 |
250.67 |
2/ |
Holidays |
1,569.52 |
130.79 |
3/ |
Other |
662.55 |
55.21 |
|
|
$
32,556.87 |
$2,713.07 |
|
|
|
|
RAILROAD RETIREMENT TAX
Tier 1 (6.2%) |
$ 5,394.00 |
$ 449.50 |
PAID BY EMPLOYEE
Tier 2 (4.9%) |
$ 3,160.50 |
$ 263.38 |
|
$ 8,554.50 |
$ 712.88 |
|
|
* |
$87,000 represents the minimum annual wage
subject to a maximum railroad retirement Tier 1 tax.
$64,500 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
$1,120.00 per
month and $13,440.00 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. |
|
|
NOTE: |
Current
information on Vacations, Holidays and Other no longer available.
Information from 1987. |
|