2008 Flexible Credits
Flexible Credits are made up of four components: health, dental, life, and long-term disability. The monthly credits for 2008 are calculated below.
Health/Dental
- Single Status
Health: $381
Dental: $26
Dental (over 3 years of service): $45 - Employee/Spouse Status
Health: $622
Dental: $38
Dental (over 3 years of service): $71 - Employee/Spouse-Double
Spouse Status
Health: $1244
Dental: $76
Dental (over 3 years of service): $142 - Employee/Children
Status
Health: $482
Dental: $61
Dental (over 3 years of service): $106 - Family Status
Health: $654
Dental: $61
Dental (over 3 years of service): $96 - Family-Double Spouse Status
Health: $1308
Dental: $122
Dental (over 3 years of service): $192
Life Insurance
Annual benefit salary, rounded to next highest thousand divided by 1000 X (2.5) X (.43)
Maximum coverage = $1,000,000Example: Salary = $49,456
(50,000) / (1000) X (2.5) X (.43) = $53.75
LTD
(Annual benefit salary) X (% of benefit) divided by (100) X (1.64) divided by 12
% of benefit is based on length of service:
0 - 1 = 0%
1 - 2 = 30%
2 - 3 = 40%
3 - 4 = 50%
4 - 5 = 60%
5 ++ = 70%Example (two years of service): Salary = $49,456
(49,456) X (.40) / 100 X 1.64 / 12 = $27.04