| ASSUMPTIONS PAGE | |||||
| YEAR 1 | YEAR 2 | YEAR 3 | YEAR 4 | YEAR 5 | |
| INFLATION RATE** | 0.00% | 2.30% | 2.40% | 2.40% | 2.40% |
| APPROXIMATED STATE PAY ADJUSTMENT | 1.76% | 1.76% | 1.76% | 1.76% | 1.76% |
| FRINGE BENEFIT RATE - FULL-TIME & PART-TIME EMPLOYEES | 20.62% | 20.62% | 20.62% | 20.62% | 20.62% |
| ELIGIBLE FOR FRINGE BENEFITS (EXCLUDING HEALTH INSURANCE)*** | |||||
| FRINGE BENEFIT RATE - PART-TIME EMPLOYEES ( NO BENEFITS) | 7.65% | 7.65% | 7.65% | 7.65% | 7.65% |
| Do not enter in assumption formula's in any spreadsheets. They will calculate automatically. | |||||
| HEALTH INSURANCE MONTHLY PREMIUMS: | COST | KEY | HMO's | ||
| (State share depending on plan) | ALLIANCE | ADVANTAGE | Average Cost | ||
| SINGLE | $422 | $220 | $217.00 | ||
| EMPLOYEE + ONE | $422 | $328 | $323.00 | ||
| FAMILY | $422 | $436 | $430.00 | ||
| FAMILY - TWO STATE EMPLOYEES | $422 | $529 | $521.00 | ||
| ** As forecasted by the WEFA Group | |||||
| *** 1. For fringe benefit rates applicable to state police and | |||||
| members of VaLors, contact the Commonwealth Competition Council | |||||
| 2. These rates apply to part-time, classifed employees who work at least 20 hours per week | |||||
| Note: The assumptions are periodically updated pursuant to General Assembly action and other factors. When the | |||||
| assumptions change, updates will be made to the "Compete" software and distributed upon request. | |||||