04-2 Obsolete

Retirement and Fringe Benefit Rates
March 29, 2004

This Important Notice announces retirement and fringe benefit rates effective July 1, 2004.  Please begin using them immediately on all proposals submitted.  Benefits are pooled and all persons are charged based on object codes and not on benefit entitlement.  Non-student hourly personnel employed more than 1000 hours annually are covered by the PERF retirement plan. 

Retirement and Fringe Benefits Effective July 1, 2004

Group

Retirement

FICA

Other Fringe Benefits

Fee
Remissions

Total

Description

 

A

 

18.42%

 

7.07%

 

12.74%

 

 

38.23%

Academic (object codes 2000, 2003, 2005) and exempt professional appointees (object codes 2400, 2403, 2405) on cost share and non-contract and non-grant accounts.

 

B

 

11.52%

 

7.07%

 

12.74%

 

 

31.33%

Academic (object codes 2008) and exempt professional appointees (object codes 2408) on contract and grant awards.

C

 

7.07%

12.74%

 

19.81%

Summer salary for 10 month appointees (object code 2010)

D

8.26%

7.07%

12.74%

 

28.07%

Biweekly appointees (object code 2500, 2502, 2504, 2550)

E

8.26%

7.07%

   

15.33%

Hourly non-student appointees in positions requiring more than 1000 annual hours of work (object codes 3050, 3100, 3200)

F

 

7.07%

   

7.07%

Hourly non-student appointees in positions with less than 1000 annual hours of work (object codes 3000, 3150, 3250)

G

 

7.07%

   

7.07%

Supplemental payments for those doing internal consulting (object code 4580)

 

H

   

(1)   TBA * Bloomington

(2)   TBA * Indianapolis

(3)

 

Qualified graduate student appointees (those appointed at 37.5% or more for at least one full semester) or qualified fellowship recipients (those with a stipend of $2,814 or more per semester)

*  To be announced.  The student academic appointee and fellowship health insurance amounts for 2004-2005 have not been finalized.  As a temporary guide, the prior year rates are printed as follows:

  1. Health Insurance for Student Academic Appointees and Fellowship Recipients on the Bloomington campus is a flat fee of $911.17 (85% institutional share) per year ($367.61 for the first semester and $543.56 for the second semester and continuing through the summer).  It should be placed in the employee benefit category of the budget and included in the base for calculating indirect cost.  The difference in amount between Bloomington and Indianapolis is the Bloomington Health Center fee ($87.96 per semester).  Proposal budgets should be rounded to the nearest dollar.
     
  2.  Health Insurance for Student Academic Appointees and Fellowship Recipients on the Indianapolis campus is a flat fee of $735.25 (85% institutional share) per year ($279.65 for the first semester and $455.60 for the second semester continuing through summer).  Proposal budgets should be rounded to the nearest dollar. 
     
  3. The amount of fee remission to be budgeted is being left to individual schools. The maximum amount that can be charged to a sponsored project will be total fees (including out-of-state fees if applicable) less the dedicated fee. The school will be obligated to give a full fee remission (30 hours per 12-month period beginning with the start of the fall semester with no more than 12 hours in any semester or combined summer sessions) to all graduate student employees who are involved in research or teaching activities and are appointed at least 50% FTE.

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Financial Management Services Phone:  (812) 855-4884 Email:  cgadmin@indiana.edu
Research and Sponsored Programs - Indianapolis Phone:  (317) 274-8285 Email:  rspinfo@iupui.edu
Sponsored Research Services - Bloomington Phone:  (812) 855-0516 Email:  resdev@indiana.edu
Research and University Graduate School Phone:  (812) 855-3963 Email:  stemarti@indiana.edu