| Society of Actuaries |
| Module 3 - Exercise - Chocolate Factory |
| Contribution Summary |
| | Base Contribution Formula |
| | Defined Contribution Rate up to Covered Earnings (Base): | | | | 12% |
| | Defined Contribution Rate in Excess of Covered Earnings (Base): | | | | 17% |
| | Maximum Covered Earnings: | | | | $100,000 |
| | Maximum Pensionable Earnings: | | | | $200,000 |
| | | | | | | | Adjustment | | Member |
| | | | | Prior Year | CPP Covered | Pensionable | to Base | Member | Contribution |
| | Member | Age | Sex | Earnings | Earnings | Earnings | Contribution | Contribution | Rate | | Variable Names |
| | President | 50 | M | 400,000.00 | 100,000.00 | 200,000.00 | 0.00% | 29,000.00 | 7.25% | | Aggregate_Emp_earnings | ='Contribution Summary'!$E$23 |
| | Treasurer | 45 | M | 250,000.00 | 100,000.00 | 200,000.00 | 0.00% | 29,000.00 | 11.60% | | dccontnrate1 | ='Contribution Summary'!$F$6 |
| | Sales Manager | 40 | M | 125,000.00 | 100,000.00 | 125,000.00 | 0.00% | 16,250.00 | 13.00% | | dccontrate2 | ='Contribution Summary'!$F$7 |
| | Office Manager | 35 | F | 65,000.00 | 65,000.00 | 65,000.00 | 0.00% | 7,800.00 | 12.00% | | CPP_Covered_Earnings | ='Contribution Summary'!$F$8 |
| | Receptionist/Office Assistant | 20 | F | 25,000.00 | 25,000.00 | 25,000.00 | 25.00% | 2,250.00 | 9.00% | | Maximum_Pension_Earnings | ='Contribution Summary'!$F$9 |
| | Plant Foreman | 30 | F | 65,000.00 | 65,000.00 | 65,000.00 | 25.00% | 5,850.00 | 9.00% | | Aggregate_Exp_Contn | ='Contribution Summary'!$I$23 |
| | Plant Worker 1 | 60 | M | 40,000.00 | 40,000.00 | 40,000.00 | 25.00% | 3,600.00 | 9.00% |
| | Plant Worker 2 | 30 | M | 40,000.00 | 40,000.00 | 40,000.00 | 25.00% | 3,600.00 | 9.00% |
| | Plant Worker 3 | 20 | F | 35,000.00 | 35,000.00 | 35,000.00 | 25.00% | 3,150.00 | 9.00% |
| | Plant Worker 4 | 20 | M | 35,000.00 | 35,000.00 | 35,000.00 | 25.00% | 3,150.00 | 9.00% |
| | | | | 1,080,000.00 | | | | 103,650.00 |
| | Budget Annual Contribution Rate: | | | | 15.00% | |
| | Aggregate Annual Contribution Rate of Total Earnings | | | | 9.60% |
jammie
fap_mod3exercise01-03employeedata.xlsx
