Benefit Reference Guide - The School District of Palm Beach County
Benefit Reference Guide - The School District of Palm Beach County
Benefit Reference Guide - The School District of Palm Beach County
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Disability Income Protection<br />
22 Payroll Deductions Per Year<br />
For Employees Receiving 22 Pay Checks Per Year<br />
Voluntary Disability Program<br />
How to Estimate Payroll Deduction – Based on 22 Payroll Deductions per year<br />
Short Term<br />
Disability<br />
Long Term<br />
Disability<br />
A. Enter Annual Salary $________ $________<br />
B. Divide by 100 $________ $________<br />
C. Multiply by your appropriate rate below $________ $________<br />
D. Divide by 22 (number <strong>of</strong> payroll deductions/yr) $________ $________<br />
EXAMPLE: Short Term Long Term<br />
Disability Disability<br />
A. Enter Annual Salary $20,000.00 $20,000.00<br />
B. Divide by 100 $200.00 $200.00<br />
C. Multiply by your appropriate rate below ($.89 for STD / $.08 for LTD) $178.00 $16.00<br />
D. Divide by 22 $8.09 $ .73<br />
Short Term Disability Rates<br />
Employee’s Rates per $100 Covered Payroll<br />
Age A B C<br />
54 & Under $0.89 $0.61 $0.48<br />
55 - 59 $1.17 $0.80 $0.64<br />
60 - 64 $1.34 $0.91 $0.73<br />
65 & Over $1.63 $1.12 $0.89<br />
Long Term Disability Rates<br />
Employee’s Rates per $100 <strong>of</strong><br />
Age Covered Payroll<br />
24 & Under $0.08<br />
25 - 29 $0.11<br />
30 - 34 $0.17<br />
35 - 39 $0.27<br />
40 - 44 $0.38<br />
45 - 49 $0.51<br />
50 - 54 $0.70<br />
55 - 59 $0.82<br />
60 & Over $0.86<br />
NOTE: Rates effective January 1, 2011<br />
Did you read about...<br />
• How the plan works?<br />
• Coverage levels?<br />
• Short and Long-Term options?<br />
www.myFBMC.com<br />
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