JC - 2024 Employee Benefits Guide - (FINAL 11.28.2023) SPR

EMPLOYEE/SPOUSE (BASED ON EMPLOYEE AGE)

CHILD(REN)

RATE PER $1,000

RATE PER $10,000

AGE

WITH AD&D

Under 30

$0.040

$0.065

$2.00

30-34

$0.080

$0.105

35-39

$0.080

$0.105

40-44

$0.140

$0.165

45-49

$0.210

$0.235

50-54

$0.390

$0.415

55-59

$0.610

$0.635

60-64

$0.630

$0.655

65-69

$1.170

$1.195

70-74

$2.500

$2.525

75-79

$2.500

$2.525

80-99

$2,500

$2.525

EXAMPLE OF VOLUNTARY LIFE AND AD&D COSTS - (Example assumes 52 year old employee electing $20,000 of Voluntary Life and AD&D for himself )

Voluntary Benefit Amount

Multiplied by Monthly Rate by Age Band Per $1,000 of Benefit

Total Monthly Cost

Benefit

Cost Per Bi-Weekly Pay

Employee/Life

$20,000

$7.80

$7.80

x 12 = $93.60 ÷ 26 = $3.60

$0.390

Employee/AD&D

$20,000

$0.50

$0.50

x 12 = $6.00 ÷ 26 = $0.23 Total Bi-Weekly Cost for Voluntary Life and AD&D Benefit $3.83

$0.025

For additional information, please refer to your detailed plan summary. In the event of a discrepancy, the carrier Plan Document shall prevail.

13