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(This
is nothing Official! Just approximate
Take Home Pay I was computing). |
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Buyouts & Bonus |
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edit: |
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Approximate Take Home Pay
after Lots of Taxes! |
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July 25th, 2006 |
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35k Bonus for Normal
& Early Voluntary Retirement Only |
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Taxes for Lump Sums: |
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(Mutuals Don't Get This) |
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Federal Flat Rate = |
25% |
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35k @ 35.99% tax (-$12,596) = $22,403 (approx. take home) |
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FICA - HI = |
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1.45% |
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FICA - OASDI = |
6.20% |
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32.65% |
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50k Buydown (if it's offered) |
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Plus
State Tax: |
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50k @ 36.52% tax (-$18,260) = $31,740 (approx. take home) |
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Ohio (for $140k) approx |
5.64% |
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Ohio (for $70k) approx |
4.31% |
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Ohio (for $50k) approx |
3.87% |
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70K Buyout (3 but less than 10
years Seniority) |
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Ohio (for $35k) approx |
3.34% |
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70k @ 36.96% tax (-$25,872) = $44,128
(approx. take home) |
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(City/Local Tax varies) |
?% |
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For
reference: |
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$140k Buyout (10 or more years Seniority) |
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Warren City |
2% |
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$140k @ 38.29% tax (-$53,606) = $86,394 (approx. take home) |
Lordstown |
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1% |
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Buyouts
for those with 5+ years of Service, Severs all ties except: |
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Vested
Pension = Basic Benefits when retirement age (age 55 and up) |
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No Medical or Life
Insurance benefits |
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For
your own Vested Service |
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and Basic Benefits, call |
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Vested
Pension (5+ years of Service) = Basic Benefit Pension Only |
Fidelity
Benefit Center: |
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Gross Monthly
Approximates: |
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1-877-389-2374 |
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If Collect at: |
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http://www.yourdelphibenefits.com |
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Age: |
% |
88's (A) |
85's (A) |
93's (A) |
94's (A) |
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55 |
42.8% |
$392 |
$457 |
$283 |
$261 |
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56 |
46.8% |
$428 |
$500 |
$309 |
$285 |
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Credited
years do go by tenths, |
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57 |
51.2% |
$469 |
$547 |
$338 |
$312 |
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so
if yours is '18.4' years, multiply |
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58 |
55.5% |
$508 |
$593 |
$367 |
$339 |
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the
'$50.90' (Basic Benefit) |
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59 |
59.6% |
$546 |
$637 |
$394 |
$364 |
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by '18.4' |
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60 |
64% |
$586 |
$684 |
$423 |
$390 |
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61 |
71.2% |
$652 |
$761 |
$471 |
$434 |
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62 |
78.4% |
$718 |
$838 |
$518 |
$478 |
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63 |
85.6% |
$784 |
$915 |
$566 |
$522 |
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Percentages from Pg 62-64
of the |
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64 |
92.8% |
$850 |
$992 |
$614 |
$566 |
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2003 Pension Plan
Agreement Book |
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65 |
100% |
$916 |
$1069 |
$661 |
$610 |
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Base Hourly Rate from 9/18/06 onwards: |
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Basic
Benefit 10/1/06 & after: |
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A - Less than $26.93 (Short Order 392's) |
equals= |
A
= $50.90 (Short
Order 392's) |
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B - $26.93 but less than
$27.22 |
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equals= |
B = $51.15 |
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Pg 6 & 80 of red 2003 |
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C - $27.22 but less than
$28.42 |
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equals= |
C = $51.40 |
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Pension Plan Book |
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D - $28.42 & over |
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equals= |
D = $51.65 |
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Base Hourly Rate 9/19/05
to 9/18/06: |
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Basic
Benefit 10/1/05 thru 9/1/06: |
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A - Less than $26.15 (Short Order is $25.96) |
equals= |
A
= $49.85 (Short
Order 392's) |
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B - $26.25 but less than
$26.43 |
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equals= |
B = $50.10 |
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C - $26.43 but less than
$27.59 |
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equals= |
C = $50.35 |
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D - $27.59 & over |
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equals= |
D = $50.60 |
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Ohio Tax - 2006 |
Witholding |
Plus |
of Excess Over: |
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$0-$5,000 |
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$0 |
0.774% |
$0 |
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of Excess |
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$5,000-$10,000 |
$38.70 |
1.547% |
$5,000 |
Ohio Tax |
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Witholding |
Plus |
Over: |
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$10,000-$15,000 |
$116.05 |
3.094% |
$10,000 |
$40,000-$80,000 |
$1,392.55 |
5.416% |
$40,000 |
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$15,000-$20,000 |
$270.75 |
3.868% |
$15,000 |
$80,000-$100,000 |
$3,558.95 |
6.189% |
$80,000 |
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$20,000-$40,000 |
$464.15 |
4.642% |
$20,000 |
$100,000
and over |
$4,796.75 |
7.736% |
$100,000 |
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This is just a possible
scenario type personal worksheet I made, it's nothing official! |
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http://diversityj.com/DelphiGM |
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