I. Estimated Benefits from the CWU Budget Office click here to go back to the Budget Worksheet:
budget
For budget estimates CWU uses 16% of salary plus $10,956 (medical) for exempt and faculty. For budgeting CWU uses 19% of salary plus $10,956 for classified staff. CWU's share of retirement was estimated as 10% of faculty and staff salary plus 13% of classified staff salary
II. Detailed benefits from the CWU Payroll office follow.
OASI = earnings x .0765 up to earnings of $127,200, with a yearly cap of $7886.40 Medicare = earnings x .0145, plus an additional .9% when earnings exceed $200,000 per year L & I = FTE x .2781 per pay period, up to $44.50 per month Unemployment = earnings x .0032 (this is the largest amount charged so is good to use when estimating)
If employees are benefits eligible, add the following to the above:
Health Care = $913 per month Retirement = Depends on employee type and plan selection. Retirement plans available to CWU employees do not exceed 15% of salary for ER costs, so it is a safe figure to use for estimates.
As a point of reference, for a classified employee in PERS2, the ER portion would be 12.7%.
Budget Worksheet
Use this link to do back to the budget worksheet:
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