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Under employment with firm beginning June 1st
$232.00 monthly
Less payment on note (due firm)
Less monthly deduction for income tax and
social security
Plus advance from personal funds
60.00
$172.00
20.00
$152.00
20.00
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Louis is reported 54 years old. If added to the payroll, he would
be eligible for and we would be called on to pay, if he continues
on the payroll:
In 60 days for Blue Cross-Blue Shield hospitalization, at
a cost of $53.28 per year.
In one year, Metropolitan Life Insurance Company policy for
$3500.00, at a cost of $63.48 per year. This is for the year
he is 54 - the premium would go up each year, as this is term
insurance. Next year it would amount to $69.39, and the year
thereafter $75.60, etc.
These premiums are paid by the Company. There is no payroll deduction
on these items. Therefore, as he becomes eligible for the two plans,
the cost, over and above his wages, less social security to be de-
ducted, to maintain Louis on the usual Company benefit program, would
start at $122.67 per year, but average about $150.00 per year over the
next ten years.
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