Post by Darth Stateworker on Sept 14, 2011 23:18:28 GMT -5
I whipped up a spreadsheet the other day at the request of a friend to show the true effect on net pay with the proposed changes.
It's a bit crude, but I'll share it here. You simply fill in the orange boxes with the corresponding information from your paystub by merely typing over the example information that is already there, add in any optional information in the yellow boxes like expected steps, and the calculator does the rest and gives you a rough idea of what to expect for net pay for the life of the contract.
The largest questionable factor is taxes. The calculator only uses a simple "guesstimate" of the taxes you will see out of your paycheck in the future based on what you currently pay now, but it should be close to being accurate provided you don't jump tax brackets or change the number of exemptions you claim for withholding over that timeframe.
Additionally, the calculator lets you change the assumptions for future annual health insurance increases by changing the percentages listed in the yellow boxes in the health insurance section. I've defaulted them to 19% for this year (worst case scenario per Civil Service estimates) and 10% for subsequent years based on the long term average.
I should have done this sooner, but I've been a bit tied up recently. But I'm sure it would have been helpful had I released something like this into the wild before the vote started.
Note - this spreadsheet is for estimates only. There are multiple factors that are not accounted for, such as PEP reducing health care costs or other items like having a fixed percentage of your wages taken out for pension or DCP costs. This is meant to give a rough estimate only of net pay alone without too many additional or optional deductions. Obviously, you could estimate those values yourself to get closer, as you know your own paystub better than I do, so I cannot include every contingency here.
*Special thanks to Weekendgirl for pointing out an error that I didn't previously notice on the "Before Tax Misc" cells.
**Updated again as I noticed that for the last two steps I was not properly calculating the increase, resulting in lower gross and net pay amounts than they should have been.
For those that are not members and cannot access attachments, you may view the spreadsheet on Scribd, and download it directly from there as an XLS file to modify and view how the changes will effect your own salary here: www.scribd.com/fullscreen/65712613?access_key=key-2kby3xjx6px9raxzqt09
As always, full members of the forum can download this spreadsheet directly from the attached document.
UPDATE 9/20/11 - See my subsequent post below. A slight error was found in the cells for the Before Tax Misc Deduction, and I have removed the spreadsheet with the error and updated it to fix it. Member may download the new version in the post below. Non members may download it from the Scribd link above, as that link has been corrected to reflect the current version.
It's a bit crude, but I'll share it here. You simply fill in the orange boxes with the corresponding information from your paystub by merely typing over the example information that is already there, add in any optional information in the yellow boxes like expected steps, and the calculator does the rest and gives you a rough idea of what to expect for net pay for the life of the contract.
The largest questionable factor is taxes. The calculator only uses a simple "guesstimate" of the taxes you will see out of your paycheck in the future based on what you currently pay now, but it should be close to being accurate provided you don't jump tax brackets or change the number of exemptions you claim for withholding over that timeframe.
Additionally, the calculator lets you change the assumptions for future annual health insurance increases by changing the percentages listed in the yellow boxes in the health insurance section. I've defaulted them to 19% for this year (worst case scenario per Civil Service estimates) and 10% for subsequent years based on the long term average.
I should have done this sooner, but I've been a bit tied up recently. But I'm sure it would have been helpful had I released something like this into the wild before the vote started.
Note - this spreadsheet is for estimates only. There are multiple factors that are not accounted for, such as PEP reducing health care costs or other items like having a fixed percentage of your wages taken out for pension or DCP costs. This is meant to give a rough estimate only of net pay alone without too many additional or optional deductions. Obviously, you could estimate those values yourself to get closer, as you know your own paystub better than I do, so I cannot include every contingency here.
*Special thanks to Weekendgirl for pointing out an error that I didn't previously notice on the "Before Tax Misc" cells.
**Updated again as I noticed that for the last two steps I was not properly calculating the increase, resulting in lower gross and net pay amounts than they should have been.
For those that are not members and cannot access attachments, you may view the spreadsheet on Scribd, and download it directly from there as an XLS file to modify and view how the changes will effect your own salary here: www.scribd.com/fullscreen/65712613?access_key=key-2kby3xjx6px9raxzqt09
As always, full members of the forum can download this spreadsheet directly from the attached document.
UPDATE 9/20/11 - See my subsequent post below. A slight error was found in the cells for the Before Tax Misc Deduction, and I have removed the spreadsheet with the error and updated it to fix it. Member may download the new version in the post below. Non members may download it from the Scribd link above, as that link has been corrected to reflect the current version.
