Compensation notes

Compensation plans

Standard

• 11.55/hr
• no vacation
• no health coverage
• no retirement

Committed

• 12.55/hr
• 1 week vacation/yr
• health coverage
• no retirement

Collective

• 13.55/hr salary with max headroom, $1084 per two week period standard
• 3.6 weeks vacation/yr
• health coverage
• retirement plan

Staffing expenses March 2010 (from the books)

Gross Pay, Collective	$29,217.51 
Gross Pay, Committed	$10,829.23 
Gross Pay, Other	$11,479.12 
	                $51,525.86 
	
Health Care	         $6,810.17 
Payroll Accounting     	   $372.45 
Medicare	           $743.54 
OR ER Work Ben	            $54.00 
OR SUI	                 $1,128.09 
Social Security	         $3,179.12 
Retirement, employer 	   $711.30 
Workers Compensation	   $335.92
 
TOTAL	                $64,860.45 

Typical staffing expenses per month for one person (calculated)

collective				
pay/hr	                    $13.55 			
hours/wk	                40 			
wk/period	                 2 			
gross/pay period	 $1,084.00 			
pay/month	         $2,348.67 			
health care/mo	           $355.45 			
dental	                    $42.25 			
retirement	            $75.16 			
tax portion	           $107.33 			
vacation	           $162.60 
total exc w/c	         $3,091.45 

				
committed				
pay/hr	                    $12.55 			
hours/wk	                32 			
wk/period	                 2 			
gross/pay period	   $803.20 			
pay/month	         $1,740.27 			
health care/mo	           $355.45 			
dental	                    $42.25 			
retirement				
tax portion	            $79.53 			
vacation	            $33.47 
total exc w/c	         $2,250.96 
 			
				
Nother or apprentice				
pay/hr	                    $11.55 			
hours/wk	                24 			
wk/period	                 2 			
gross/pay period	   $554.40 			
pay/month	         $1,201.20 			
health care/mo				
dental				
retirement				
tax portion	            $54.89 			
vacation
total exc w/c	         $1,256.09 			

Vacation costs are complicated and can also be affected by how much time others need to put in to make up for the staff member's absence. All that is figured here is a simple calculation based on the total vacation possible in a year divided by 12 months.

Worker's compensation is not included here, but currently is being figured in the books at $335.92 a month for everyone combined.

Comments:

• Based on march 2010, raising all the committeds to $13.55/hr would add $862.89 to the monthly Gross pay. This would also raise the various tax categories by a small amount.
• Giving the committeds retirement benefits would add $346.54 to the monthly staffing expenses.
• Both together would be $1,237.03 (more than the sum because of the retirement being based on payroll)

Free Geek Net Profit 2010

January           $24,921.77
February          $26,774.21
March             $20,567.87
April books are not closed yet.