401K benefit money

Turbine08

Rookie
Sep 18, 2009
30
1
6
Where is it listed what the hourly benefit pay is if you decline health care. Seems to be around $3.30/hr but never see it posted anywhere?
 

EFC

Senior Member
Dec 24, 2008
162
1
18
On a Van by the Sea
Quote:

"ALL OCCUPATIONS LISTED ABOVE RECEIVE THE FOLLOWING BENEFITS:

HEALTH & WELFARE: Life, accident, and health insurance plans, sick leave, pension
plans, civic and personal leave, severance pay, and savings and thrift plans.
Minimum employer contributions costing an average of $3.50 per hour computed on the
basis of all hours worked by service employees employed on the contract."

End Quote.

This information was copied directly from the DOL website.

The employer must provide these benefits to the employee. Thanks to "ObamaCare" the employee does not have the right to decline any of these benefits.

Current DOL regulation does not give the employer the option to pay these entitlements directly to employee.
 

patco

PATCO President
Jun 15, 2008
109
0
16
Florida
www.patco81.com
"Current DOL regulation does not give the employer the option to pay these entitlements directly to employee."

Not applicable to a Union CBA ....RVA pays direct. It is a negotiable item under the NLRA.
 

Turbine08

Rookie
Sep 18, 2009
30
1
6
I decline medical coverage and $3.33 per hour worked goes into my 401k. Any questions to the company and they act like its a states secret and you have no right to know how much goes into the account. They must be taking some off the top because no one I know is getting $3.50/hr.
 

patco

PATCO President
Jun 15, 2008
109
0
16
Florida
www.patco81.com
You have the right to know how much and where your money is going and the employer is required to provide the data. If they refuse, there are options available to you.
 

Turbine08

Rookie
Sep 18, 2009
30
1
6
The amount of fringe benefits is determined by the DOL. Go to the following website:

Wage Determinations Online

Search for the wage determination for your location and see what is the correct amount for your location.
Thanks for the link but didn't see anywhere what the benefit money was? I thought the benefit money was unique to each company just like yearly pay raises. Contractors raise the fee's by a couple % and less than half a percent goes to our hourly wage.
 

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