Online Benefit Statement Sample

Benefit statements can be designed to meet your specific style, branding and formats. A PSG representative will work with you to design and implement that statement that best meets your needs, and reflects your benefit plans.

Your Benefits Statement
Employee Name: James Smith		Date of Statement:1/20/2009
Benefit	Coverage	Details	Value
Salary	$50,9011.65	Base Salary	$40,000.00
401k Plan	4% of base salary or 2000.00 capped per year	Employee contribution matched by Company. The 401K plan with Principal is an arrangement within which you have your own policy. It is possible to invest in a wide range of funds. You may log on to www.principal.com to manage your account and obtain further information.	$2000.00
Pension Plan	4.88% of base salary or 2000.00 capped per year	The Company makes a contribution equivalent to 4.88% of your base salary each year into a plan with Principal.	$2437.50
Medical Insurance	Single Coverage	Insurance plan to cover medical treatment operated by BlueCross BlueShield. Dependants can also be covered. 80% of premium paid for by Company.	$5564.40
Dental Insurance	Single Coverage	Insurance plan to cover medical treatment operated by MetLife. Dependants can also be covered. 80% of premium paid for by Company.	$454.44
Vision Plan	Single Coverage	Insurance plan to cover eye examinations operated by VSP, dependants can also be covered. 80% of premium fully paid for by Company.	$77.16
Short/Long Term Disability	100% of salary and then 75%of salary	Insurance plan to protect your income in event of sickness absence. Full pay for 90 days and at 75% of base salary for the next 90 days. In the event of absence beyond 26 weeks, insurance may pay 60% of salary.	$246.15
Life Insurance	2x base salary capped $350k	Cover for the amount shown in event of employee's death while employed by PSG International Pay out doubles in event of accidental death.	$132.00
Spouse Life Insurance	0	Provides lump sum payment for spouse in event of employee's death. Additional amount if employee has children.	$0.00
Benefits Total Value:			$10911.65
Benefits Percent of Salary			27.3%

Non-Costed Benefits
Annual Vacation	25 Days	Number of days holiday to which you are entitled in the calendar year. The amount is pro-rated for part-time working.
Gym Membership	Employees can receive reimbursement of $150 per year through BlueCross BlueShield once they have been a BlueCross BlueShield member for four months.
Benefits Information	Seminars are held for employees which provide information on benefits e.g. Pensions.
Flex Spending Plan	Employer established plan which enables employees to pay for certain medical, dependant care and transportation expenses with pre-tax dollars.
Special Leave Policies	To ensure that employees are able to achieve a work-life balance e.g. Maternity, Paternity, Family Medical Leave.

James, the purpose of this Total Benefits Statement is to give you a complete picture of your benefits package. You may notice that the total value of your compensation is significantly higher than your annual base salary. PSG International's cost for providing these benefits equals approximately 27.3% of your salary or $9851.45 per year.

PSG International contributes to and also forwards employee withholding taxes under FICA (Federal Insurance Contributions Act) which includes Social Security and Medicare benefit, on your behalf. You may request a Personal Earnings and Benefit Statement (PEBES) from the Social Security Administration to verify your earnings records and receive an estimate of your future Social Security benefits.

Please note that this personalized benefits statement is not a legal document. All benefits are governed by the relevant policy documentation, which have precedence over the summary information contained in this statement. In the case of conflict or omission, the formal policy documentation and/or Company handbook applies. Copies of such documents are available from Human Resources.

PSG, reserves the right to change, suspend or cancel its benefit policies or practices with or without notice.

Please note that your annual salary used for this statement is that as of April 1, 2008 Therefore, all benefit calculations, such as for life insurance and disability benefit, are annualized amounts based on your salary level at that date.

It is expected that as your career progresses, your compensation and the value of your benefits will increase. Such changes will be reflected on future statements.

This statement does not confer any contractual rights, either express or implied, to remain in PSG International's employment; Nor does it guarantee any fixed terms and conditions of your employment.

If you find any inaccuracies or have questions concerning your benefits and this statement, please contact the HR Director Karen Wender.