Tuesday, July 26, 2005

Offer Letter and Benefit Package

I received my offer letter and benefit package today. I'm still reading through things and filling out all the paperwork, so I should have it completed tomorrow to send back to them. I did read a few things that were interesting. The first one is that I can have a 401(k), but I can't contribute to it until I've been working there for one year. I was a little bummed about that, but I still have my IRA.
My health and dental will be fully covered by the employer and I still need to read up on the details about this. This one could save me a good amount of money because I've been checking out health plans and they were around 70-90/month I believe.

One of the benefits that I was happy to see was a transportation and parking reimbursement. They will reimburse up to $125/month for transportation and $200/month for parking. The parking one seems high, but parking in the financial district is extremely expensive. I'm going to check out some parking prices, but as of right now I will be taking public transportation.
I'll be taking BART and this will cost $140/month: $2/day for a parking fee and $35/week for transportation (a round trip is about $5). I'm really glad that I will be able to cover most of my transportation costs.

I'm still reading the other material, so I might read about a few other good benefits tomorrow.
I estimated my net take home pay by deducting medicare, federal, state and assuming I take one deduction. I think this figure will be accurate and I will be using it to make some goals.

Market News
FRX received some bad news, but it went down only 1.73%. LB rose 2.93%.
Hopefully tomorrow I will look into SLE (Sara Lee).
Portfolio YTD: +15.50%

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