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<br />7'/é?- /e? <br /> <br />City of Redwood City <br /> <br />Calculation of City Employee Monthly Cost <br /> <br />School Resource Officer <br /> <br />Police Officer at Step 5 (including incentive and premium pay) <br /> <br />Monthly Base Pay Rate (August 2005) <br />Longevity (7.50 %) <br />Specialty SRO (5.00 %) <br /> <br />$7,472.00 <br />$560.40 <br />$373.60 <br /> <br />Adjusted Monthly Pay Rate <br /> <br />$8,406.00 <br /> <br />Benefits Compensation Package <br /> <br />Medicare (1.45 %) <br />DI (0.27 %) <br />City paid PERS (34.05 %) <br />Health / Cafeteria Plan <br />Dental <br />Life Insurance <br /> <br />$121.89 <br />$23.03 <br />$2,862.07 <br />$922.19 <br />$94.90 <br />$9.60 <br /> <br />Adjusted Monthly Benefits Pay Rate <br /> <br />$4,033.68 <br /> <br />Total Employee Cost Monthly: <br /> <br />$12,439.68 <br /> <br />Total Employee Cost for Nine Months: <br /> <br />$111,957.12 <br /> <br />One Half of Employee Cost for Nine Months: <br /> <br />$55,978.56 <br />