Employer’s Costs for Grant/Contract Funded Positions – Fiscal Year 2006-2007

Kyle J. Cavanaugh, Vice President for Human Resources

The University of Florida provides a competitive benefits package to all salaried employees. To help with year 2006-2007 budget planning, the Office of Human Resource Services has prepared a list of employer costs for benefits and retirement as well as federal and state mandated charges that are incurred with all payroll activities.

•Salaried Positions—Employer (Grant) costs of required benefits:

Retirement	FRS (regular class)	9.85%	ORP	10.43%	DROP	10.91%
OASDI and Medicare Tax		7.65%		7.65%		7.65%
Workers’ Compensation		.98%		.98%		.98%
Unemployment Compensation		.12%		.12%		.12%
Total Employer Cost	FRS (regular class)	18.60%	ORP	19.18%	DROP	19.66%

•Salaried Positions—Employer (Grant) costs of employee option benefits:
State Employees’ Group Health Plan

Now through the pay period ending March 8, 2007

Coverage	Monthly	Annually
Individual	$346.16	$4,153.92
Family	$715.92	$8,591.04
Spouse Plan	$447.96	$5,375.52

Effective beginning the pay period March 9, 2007

Coverage	Monthly	Annually
Individual	$377.86	$4,534.32
Family	$787.60	$9,451.20
Spouse Plan	$483.80	$5,805.60

State of Florida Group Term Life Insurance
Employer Cost: Approximately .22% of the employee’s salary

•Post Doctoral Associates

OASDI and Medicare Tax	7.65%
Workers’ Compensation	.98%
Unemployment Compensation	.12%
Total Employer Cost:	8.75% plus employee option for State Employees’ Group Health Plan and State Term Life employer cost (see rates above).

•Graduate Assistants

• Graduate assistants on appointments are eligible for a subsidized health insurance benefit.

Fall semester cost – $580 effective through the pay period ending December 28, 2006

Spring/summer semester cost – $860 beginning the pay period December 29, 2006

• Tuition remission for continuing graduate assistants:

Fall 2005 new graduate students on assistantships for 9 hours is $2,085.93 for fall 2006 and spring 2007

Prior to fall 2005 graduate students on assistantships for 9 hours is $1,904.49 for fall 2006 and spring 2007

• Tuition remission for new graduate assistants:

Fall 2006 new graduate students on assistantships for 9 hours is $2,185.29 for fall 2006 and spring 2007

• Workers’ compensation charges of .98% also apply

•Non-Student OPS – FICA Alternative —Employer (Grant) cost of required benefits:

• Implementation of the new FICA Alternative Plan in January of 2006 resulted in a change to the employer costs for fringe benefits that will be charged to contract and grant projects in funds 201, 209, 211, 214, 221 and 222 (with the exception of house staff wages charged to projects in Fund 209).

Medicare	1.45%
Workers’ Compensation	.98%
Unemployment Compensation	.12%
Total employer cost	2.55%

•Non-Student OPS—Employer (Grant) cost of required benefits:

OASDI and Medicare Tax	7.65%
Worker’s Compensation	.98%
Unemployment Compensation	.12%
Total employer cost	8.75%

•Student OPS employees are covered by Workers’ Compensation. Charges of .98% will be assessed to Operating Expense accounts at regular intervals by Contracts & Grants Accounting Services.