---------------------- multipart/alternative attachment Hi Mike Your point is heard loud and clear. And it is a very good point, well=20= taken. Let's do the math. There are three health plan options at MSU. Apparently, MSU currently=20= pays the entire premium for one of the plans, whether it be for=20 employee only, or full family, and full family dental is also=20 completely paid. I haven't seen this anywhere else in any of the other=20= positions I have researched. I'm seeing employee contributions as high=20= as $427/month (full family) for standard plans elsewhere. My current=20 full family plan contribution is about $235/month (double what it was 3=20= years ago - the last time state employees got a raise until last month,=20= and it's going to $275 in December) plus about $21/month for a dental=20 plan (that our dentists have laughed at). Point: MSU, until they,=20 like SC and other states I've researched, decide they can no longer=20 bear the full cost of health insurance premiums. MSU also will contribute 10% of your base salary towards retirement, if=20= or when you are eligible. You contribute 5% of your base salary. Some=20= employee groups are eligible (and vested) immediately, but others have=20= a 24 month waiting period before MSU kicks anything in. It is unclear=20= which employee group the piano technician at MSU falls into. This is a=20= defined contribution plan, which means you have some management=20 controls over the funds in the account, and immediate ownership of=20 those funds, but your income at retirement is dependent on the value of=20= the account when you retire. This differs from SC's retirement plan,=20 which is a defined benefit plan, based on an annual return projections=20= of 6%. Employees contribute 6% and the university matches an=20 additional 11% but the employee is not vested until after 5 years, and=20= early withdrawals are limited to employee contributions plus interest=20 on those contributions. If the plan does not return 6%, the state pays=20= the difference, but we have no control over it until retirement. =20 Advantage depends on how well investments perform. MSU does currently offer a program in which employee's spouse/children=20= may take courses at MSU for 1/2 tuition. Additionally, employees may=20 take up to 14 hours per year tuition free. Here, an employee may take=20= 3 hours per semester tuition free, given there is available space in=20 the class. No family tuition assistance is offered, and my assistant=20 dean tells me this is a benefit being abolished nationwide. Another=20 point for MSU - for now. These are very good benefits. Better value than here in SC, for sure,=20= and at first glance, appear better than other southeastern states'=20 offerings as well. But how much of an income reduction can you=20 weather? Remember, as an employee, almost nothing is income tax=20 deductible as a business expense - no PTG dues or convention expenses,=20= no tools, no vehicle expense, etc., despite the fact that you will=20 still incur these expenses. So, the income comparison has to come from=20= gross income minus cost of goods sold and advertising costs. MSU is going to save you $15,600/year immediately in health insurance=20 premiums alone (gotta admit, that figure baffles me. Surely there are=20= more cost effective ways of protecting yourself against unfortuitous=20 loss? That premium figure will pay a lot of doctor bills. You're not=20= carrying a maternity rider are you? Those things are just savings=20 accounts plus administrative fees.) They will also contribute an=20 additional $3600ish per year towards your retirement account, so just=20 for retirement and health insurance alone, you're looking at roughly=20 $19K. Add in their social security match (i.e. "self-employment=20 insurance" - but you still will pay at least half of this tax) -=20 roughly $2750, and you're up to $21,750. The value of the college=20 tuition benefits is hard to calculate, and depends on whether you=20 actually take advantage of them, or whether they're still available=20 when your children get there. So, you're looking at $36K plus $21750,=20= or a total package of about $57,750, plus 1/2 of college tuition if you=20= are able to take advantage of that. Bottom line: with all this benefit/salary package, after deductions,=20 you're gonna get a check for about $550 or so a week, or about $1,191=20 twice a month. Can you actually live in Michigan on that? (Conrad said=20= stuff is expensive there) Is this considered a good income in=20 Michigan? Is this reflective of the value of the skill level MSU is=20 going to expect of you? (see Brad Smith's post) Is this what our skill=20= as professionals is worth? Just wondering. Ya'll have a good weekend! Jeff On Wednesday, August 4, 2004, at 08:08 PM, Mike Hoffman wrote: > Greetings listees from a confirmed lurker, > =A0 > I've got to respectfully disagree about the discussion of the low=20 > salary offer at MSU.=A0 If my health insurance premiums = (self-employed,=20 > two people, no kids) of $1,300 dollars per month were paid by MSU, AND=20= > they contributed towards my retirement, AND they gave me paid=20 > vacations AND they paid for professional development seminars AND they=20= > provided affordable educational opportunities for my wife and me, I=20 > would consider myself very fortunate, indeed.=A0 The grass is always=20= > greener somewhere, but I think there is a bigger picture to consider.=A0= =20 > Yes, piano technicians should have higher incomes; but factor those=20 > state benefits into the pot and you'll have a different picture.=A0 > =A0 > Mike Hoffman, RPT > =A0 ---------------------- multipart/alternative attachment A non-text attachment was scrubbed... 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