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Cost Comparison Calculator
Employee Participation 15% 20% 25% 30% 40% 50%Speyer Meridian Fee Per FTE Per Month 20.00$ 20.00$ 20.00$ 20.00$ 20.00$ 20.00$
Total FTEs 1,000 1,000 1,000 1,000 1,000 1,000
Monthly EE Premium Cost 300.00$ 300.00$ 300.00$ 300.00$ 300.00$ 300.00$
Lowest Hourly Pay Rate 8.00$ 8.00$ 8.00$ 8.00$ 8.00$ 8.00$
Hours Per Month 130 130 130 130 130 130
Amount Paid By EE 98.80$ 98.80$ 98.80$ 98.80$ 98.80$ 98.80$
Amount Paid By Employer 201.20$ 201.20$ 201.20$ 201.20$ 201.20$ 201.20$
EE Participation in Traditional Plan 15% 20% 25% 30% 40% 50%
Total Monthly Traditional Cost to Employer 30,180.00$ 40,240.00$ 50,300.00$ 60,360.00$ 80,480.00$ 100,600.00$
Total Monthly Speyer Meridian Cost 20,000.00$ 20,000.00$ 20,000.00$ 20,000.00$ 20,000.00$ 20,000.00$
Traditional Monthly Cost to Employer per FTE 30.18$ 40.24$ 50.30$ 60.36$ 80.48$ 100.60$
Total Annual Traditional Cost to Employer 362,160.00$ 482,880.00$ 603,600.00$ 724,320.00$ 965,760.00$ 1,207,200.00$
The Penalty Alternative 450,000.00$ 600,000.00$ 750,000.00$ 900,000.00$ 1,200,000.00$ 1,500,000.00$
Total Annual Speyer Meridian Cost to Employer 240,000.00$ 240,000.00$ 240,000.00$ 240,000.00$ 240,000.00$ 240,000.00$
Annual Savings vs Traditional Plan 122,160.00$ 242,880.00$ 363,600.00$ 484,320.00$ 725,760.00$ 967,200.00$
Annual Savings vs Penalty 210,000.00$ 360,000.00$ 510,000.00$ 660,000.00$ 960,000.00$ 1,260,000.00$