Revised 2014-2015 Fringe Benefit Pool Rates
Michael V. McKee, Assistant Vice President and University Controller
The University has calculated revised proposed rates for the pooled fringe rates for fiscal year 2014-15 and has submitted them to the U.S. Department of Health and Human Services. From the previous communication distributed on April 8, 2014, only three employee groups are impacted by the revisions – Graduate Assistants, Housestaff, and PostDocs. The revisions are reflected in the percentages below. Although we do not expect any objection to these proposed revisions, the rates are subject to DHHS 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 employee categories and corresponding benefit rates with the revisions identified are as follows:
|Faculty (9-,10-, and 12-month)||27.8%||26.3%||1.5%|
|COM Clinical Faculty||17.5%||17.1%||0.4%|
|Housestaff/Clinical Post Docs (CPFI)*||25.2%
|Graduate Assistants/Reg Post Docs (FAPD)*||13.1%
|Student OPS/Federal Work Study||1.6%||1.6%||0.0%|
|Other OPS/Temporary Faculty||3.9%||4.6%||-0.7%|
The pooled rates include the following benefits:
FICA OASDI (Social Security)
Health Insurance (including graduate assistant and postdoctoral associates health insurance)
Retirement (employer contributions)
Clinical disability insurance
Vacation Leave Cash Outs
Sick leave pool payments
Paid parental leave payments
* Regular Post Docs are being moved back to the Graduate Assistants pool from the Housestaff pool for fiscal year 2014-2015. Recent changes in the health insurance premiums now bring the costs of benefits for Regular Post Docs closer to the fringe pool for Graduate Assistants.
These rates include impacts of proposed legislation related to employer contributions toward retirement and health insurance. Earnings projections are also included to provide the best possible rate estimates.
Please contact the following individuals if you have any questions:
Brian Kuhl, email@example.com or by phone 392-1231
Jim Ferrer, firstname.lastname@example.org or by phone 392-2402