Cardiff& Vale Credit Union has brokered a deal with Admiral Group to offer a payroll saving
scheme to its 5,200-strong workforce The scheme has already attracted more than 200 people.
As illustrated in Table 3 below, the overall annual payroll savings
because of this relocation is $24,565,000, and this includes benefits as well as salary.
Value for money - in addition to the payroll savings
and net benefits achieved of over GBP5 million, the integrated solution significantly improves cash flow for the council.
The amendment's bite won't be as large as initially thought, thanks to an extra $200,000 in this year's ending fund balance from payroll savings
and unanticipated revenue from a city youth activities levy, finance director Ellen Mooney told the board.
She has $1,000 each in her savings and checking accounts; $8,500 in a Scudder money market fund; $9,400 in an American Funds account; $3,350 in a SEP-IRA; and $10,400 in her 403(b), to which she contributes 5% of her salary (the maximum is 13% with a dollar-for-dollar matching contribution of up to 3%, and 50 cents to the dollar for the next 2%), Hall also has a little more than $1,000 in a payroll savings
account at work (Federal Employee Retirement System), to which $20 is deposited every paycheck.
Projected annual payroll savings
are on the order of $400 million pretax, DuPont says, The company expects to achieve about one-third of the projected cost benefit in 2001, and substantially all in 2002.
In place of the current social security system, which is unsustainable in the long run, he outlines a plan that guarantees current recipients' benefits will not b cut, but allows younger people to begin putting their payroll savings
tax into private IRA-like accounts.
I hasten to add that as you replace manual labor with technology, reinvest some of those payroll savings
back into better wages and benefits for your core people.
Many public agencies require their employees to learn about payroll savings
after-hours, in the belief that taxpayers should not pay for this time.
Zarrello attributed the anticipated payroll savings
to the fact that Big M will have greater control than before because payroll hours allocated to each store will be determined at headquarters, rather than by individual stores.
More than 55 million Americans collectively own $186 billion in savings bonds, commonly available through banks and payroll savings
In the first five months of 1995, the reduction in lost-time days for short-term disabilities resulted in payroll savings
of about $100,000, which does not include savings from overtime, temporary worker payroll or any other "hidden" costs of disabilities.