I'm so happy to be writing two such positive posts in a row. I checked my online paystubs this morning and found that my employer paid employment insurance top up has been approved and processed.
A small bonus here, is that when I did my calculations earlier in the year for planning - I forgot that I had already maxed out my CPP/EI premiums for the year - so the benefit is about $65/pay more than I thought it was going to be for the rest of 2015. Woohoo!
If you read yesterday's post, you know that as part of my employer paid benefit maternity/parental leave benefit package, once approved for EI, I'm eligible for a top-up. They 'top-up' my EI benefit to 70% of my pre-leave salary for 15 weeks. Normally, in exchange for this benefit you have to guarantee that you'll work for them again for a minimum of 6 months after your leave of absence. In my case, that requirement has been waived because of the termination.
So, 70% of my $78,750 salary is $55,125. That divided by my employer's standard work week (1950) gives me an hour rate of $28.27. My EI benefit (pre-tax) is $524 - to find an hourly rate I'll multiply that by 52 weeks and divide by 1950 hours which gives me $13.97/hour.
The difference between the two is $14.30 - so I take that and multiply it by 75 hours (two week pay period) to get my bi-weekly benefit of $1,072.19. After taxes, we're left with just over $970 every two weeks for 15 weeks.
So yay! My next project is to update my budget sheets, and work out turning our savings plans back on.