Proposed 2014-2015 Fringe Benefit Pool Rates

Published: April 8th, 2014

Category: Memos

Michael V. McKee, Assistant Vice President and University Controller

The University has calculated new proposed pooled fringe rates and has submitted them to the U.S. Department of Health and Human Services. Although we do not expect any objection, these proposed rates are subject to their approval and as such should be used with that understanding in your planning for fiscal year 2014-15. The rates, when approved, will be effective July 1, 2014.

The pooled rates include the following benefits:
FICA OASDI (Social Security)
FICA Medicare
Health Insurance (including graduate assistant and postdoctoral associates health insurance)
Retirement (employer contributions)
Life Insurance
Clinical disability insurance
Worker’s Compensation
Unemployment Compensation
Vacation Leave Cash Outs
Sick leave pool payments
Paid parental leave payments

The employee categories and corresponding proposed benefit rates are as follows:

                                                             FY2015     FY2014   Change   

Faculty (9-,10-, and 12-month)            27.8%       26.3%       1.5%

COM Clinical Faculty                            17.5%       17.1%       0.4%

Exempt TEAMS/USPS                          31.8%       33.3%      -1.5%

Non-Exempt TEAMS/USPS                   45.6%       45.5%       0.1%

Housestaff/Post Docs*                         24.6%       18.1%       6.5%

Graduate Assistants*                           11.5%         7.2%       4.3%

Student OPS/Federal Work Study         1.6%         1.6%       0.0%

Other OPS/Temporary Faculty                 3.9%         4.6%    -0.7%

* Regular Post Docs are being moved from the Graduate Assistants pool to the existing Housestaff/Clinical Post Docs pool for fiscal year 2015, due to changes in Post Doc health insurance options.  Therefore, all Post Docs are now being included in the Housestaff fringe pool, where taxes and employer costs of benefits are more similar.

These rates include impacts of proposed legislation related to employer contributions toward retirement and health insurance, along with effects for GatorCare and the Affordable Care Act. Earnings projections are also included to provide the best possible rate estimates.

Please contact the following individuals if you have any questions:
Brian Kuhl, or by phone 392-1231
Jim Ferrer, or by phone 392-2402

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