PERSONAL FINANCE

Assignment 5

(October 14)

Purpose: Continue development of the prototype that you will work with throughout the course by completing the benefits portion of the pay stub for the main earner in your Prototype’s family. If your Prototype is self-employed, you can either complete a payroll stub for him/her, assuming an annual salary comparable to his/her annual earnings, or complete a pay stub for another member of the family.

Resources: Chapter 4 of G&W, Power Point presentation "Human Capital III: The Structure of Compensation..." (including all hyperlinked & uploaded materials), sources identified in the Paystub Worksheet Template that you will download from the First Class Conference (especially the IRS sites), Betty's web page for the course, the U.S. Bureau of Labor Statistics' (BLS) Metropolitan Area Occupational Employment and Wage Estimates at http://stats.bls.gov/oes/current/oessrcma.htm, BLS's National Compensation Survey, and the human resource office or personnel resource office of the company where the worker in your family is employed.

You should begin with the “Paystub – Assignment 4” worksheet and rename it "Paystub. Fill out the benefits portion of the Paystub worksheet for the main earner in your family or another family member if the main earner is self employed. (Note: feel free to modify the pay stub template in any way you feel necessary so that it can accurately reflect the earnings and payroll deductions for your prototype.)

Write a description that discusses & describes your prototype's employer-provided benefits & take home pay.

Many employers provide information on benefits at their web sites or the human resource office may be willing to give you this information. If you can't obtain benefit information from your prototypes employer, then use the National Compensation Survey & the benefit packages in the folder with the Power Point presentations on benefits to develop a realistic benefit package for your prototype.

Upload your Master Spreadsheet with the Paystub worksheet that contains both the withhodling & benefits information & your write up of the benefits & take-home pay sections of your final paper to the Assignment 5 folder in the Econ223-Drop conference in First Class before class on October 14.

Presentation & Financial Advisor Work

Email Econ223-Ask Ann & Saundra by 5PM on October 14 at the latest to request the presenter or Financial Advisor role for this week. Your presentation will be on October 18. If we do not have a volunteer Presenter & Financial Advisor by 5PM on October 14 we will assign students to Presenter & Advisor roles.

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