Following are retirement and fringe benefit rates effective July 1, 1996. Please begin using them immediately on all proposals submitted. As indicated in Important Notice 94-7, benefits are pooled and all persons are charged based on object codes and not on benefit entitlement.
Other Fringe Fee Retirement FICA Benefits Remissions Total Group A 23.12% 7.10% 8.51% 38.73% Group B 7.10% 8.51% 15.61% Group C 11.07% 7.10% 8.51% 26.68% Group D 9.40% 7.10% 8.51% 25.01% Group E 7.10% 7.10% Group F 7.10% 7.10% Group G $430. (1)* (2)Group A - All academic and professional appointees classification 16 and above that are eligible for early retirement (object codes 2001, 2401).
*The final rate for 1996-97 has not been determined and will be announced later.
(1) Health insurance is a flat fee of $430 per year ($163 for the first semester and $267 for the second semester and nothing for summer only). It should be placed in the employee benefit category of the budget and included in the base for calculating indirect cost.
(2) 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 session) to all graduate student employees who are involved in research or teaching activities and are appointed at least 50% FTE.