【正文】 5 , 1 6 1 $ 5 , 8 1 7 $ 5 , 0 4 6 $ 5 , 3 4 1 $ 6 , 1 6 0 L i f e amp。 D i s a b i l i t y $ 130 $ 1 0 5 $ 1 2 6 $ 120 $ 1 3 5 Re ti rem e n t $ $ $ $ $ S ub to tal T ot a l $ $ $ $ $ 28 Case Study: State of Arizona Government ?Defined benefit plans ?Deferred pensation/defined contribution ?Social Security and Medicare ?Retiree health and other postemployment benefits STEP 4—RETIREMENT COSTS E mplo y e r Cos t a s % of S a la r y O th e r S tate G ov ts Lo c a l G ov ts P r iv a te S e c to r O v e r a ll A v e r a ge S tate of AZ De f i n e d B e n e f i t 12% 7% 5% 8% 4% De f e rr e d Co m p 1% 1 .5 % 1% 0% S o c S e c /M e d i c a re 3 .8 3 % 7 .6 5 % 7 .6 5 % 6% 7 .6 5 % Re ti re e He a l t h 1% 1% 0% 1% 1% T ot a l 1 8 % 1 7 % 1 3 % 1 6 % 1 3 % 29 Case Study: State of Arizona Government COST MODEL WITH DIRECT COMPENSATION AND INSURANCE COSTS E le m e nt s of T ot a l Compens a tio n O th e r S tate G ov ts Lo c a l G ov ts P r iv a te S e c to r O v e r a ll A v e r a ge S tate of AZ Dir e c t Compens a tio n P a y f o r T i m e W o r k e d $ 3 5 , 6 2 8 $ 3 5 , 7 2 4 $ 3 7 , 1 4 8 $ 3 5 , 4 3 2 $ 2 8 , 5 9 9 V a l u e o f P a i d T i m e O ff $ 6 , 1 5 7 $ 6 , 5 1 6 $ 6 , 3 0 0 $ 6 , 190 $ 5 , 2 0 0 S ub to tal $ 4 1 , 7 8 5 $ 4 2 , 2 4 0 $ 4 3 , 4 4 8 $ 4 1 , 6 2 2 $ 3 3 , 7 9 9 Indir e c t Comp e nsa tio n M e d i c a l / De n t a l Co s ts $ 5 , 1 6 1 $ 5 , 8 1 7 $ 5 , 0 4 6 $ 5 , 3 4 1 $ 6 , 1 6 0 L i f e amp。 D i s a b i l i t y $ 1 3 0 $ 1 0 5 $ 1 2 6 $ 120 $ 1 3 5 Re ti rem e n t $ 6 , 8 8 3 $ 6 , 8 2 6 $ 5 , 4 9 6 $ 6 , 4 0 2 $ 3 , 9 7 1 S ub to tal $ 1 2 , 1 7 4 $ 1 2 , 7 4 8 $ 1 0 , 6 6 8 $ 1 1 , 8 6 3 $ 1 0 , 2 6 6 T ot a l $ 5 3 , 9 5 9 $ 5 4 , 9 8 8 $ 5 4 , 1 1 6 $ 5 3 , 4 8 5 $ 4 4 , 0 6 5 30 Case Study: State of Arizona Government $0$ 1 0 , 0 0 0$ 2 0 , 0 0 0$ 3 0 , 0 0 0$ 4 0 , 0 0 0$ 5 0 , 0 0 0$ 6 0 , 0 0 0O t h e r S t a t eG o v t sL o c a l G o v t s P r i v a t eS e c t o rS t a t e o f A ZR e t i r e m e n tI n su r a n ceV a l u e o f P a i d T i m e O f fP a y f o r T i m e W o r ke d$53,959 $54,988 $54,116 $44,065 SUMMARY OF TOTAL COMPENSATION COSTS The State would need to increase its total pensation by at least 22% to equal the market. 31 Concluding Remarks ?Total pensation calculations are a “snapshot” in time ?There are nonquantifiable aspects of pensation that employees value highly ? Training and development ? Career opportunities and job security ? Culture and environment ? Management and anization reputation ?The mix of pay and benefits may not reflect what employees value (regardless of costs) ?Employees at different life stages may value each element of total pensation differently 32 Quantifying Total Compensation For further information, contact: Elliot Susseles 202/8336436 Questions? Doc618040