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Continuation - Benefit Increases <br /> Federal and State legislation establishes employer-required matchinc� rates <br /> and annual employer health insurance_premiums:Together,these cFianges <br /> require adjustments to our loco! ❑perat�anal plan including: <br /> • $154,00�for an estimated increase in FICA expense to account for <br /> estimated increases in saEaries and corresponding supplements <br /> • $1,114,000 for an estimated increase to 25.8%from 24.5%in the matching <br /> TSERS rate <br /> for an estimated increase to$7,b79 from$7,397 for the Employer <br /> Health Insurance Cost of each employee <br /> These combined increase estimates in matching benefits total S1.b2b,0�0 <br /> THINK{AND ACTJ <br /> DIFFERENTLY <br /> Slide#7 <br /> Chapel HI4Lwhara LNy$ahapis I ChLC5.08 <br /> 3 Jonathan Scott said that the salary increases also trigger corresponding benefit increases <br /> •' retirement, and health insurance rates. <br /> • Slide i <br /> Continuation - inflationary Adjustment <br /> • Tire preliminary continuation budget includes a 5%Inflationary <br /> Adjustment to Nan-salary operating Costs for a total of $655.QDa. <br /> • The March release of inflationary data showed an overall CPi of <br /> 5.g%after peaking around $.9%within the last year, <br /> z The ❑istrict chose a conservative estimate of 5�across the board <br /> due to uncertainty in the different baskets of the CPI index. <br /> The operational casts mast pertinent to the District include items for <br /> utilities, maintenance, Supplies, and others required for district <br /> faCllltle5 a5 Well a5 SUpplle5 $ materials far ala55raam5 funded from <br /> IOCQI reSOurCeS. <br /> THINK{AND ACT) <br /> DIFFERENTLY <br /> Lhppd W-LrnGao LNy Schaak chccs.org <br />