Retirement and Fringe Benefit Rates
July 15, 1998
This updates Important Notice 98-1 dated February 16, 1998. Final health insurance rates have been established for student academic appointees (Group G) and fellowship recipients (Group H).
Following are retirement and fringe benefit rates effective July 1, 1998. 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.
Retirement and Fringe Benefits Effective July 1, 1998
|Retirement||FICA||Other Fringe Benefits||Fee Remissions||Total|
|Group G||$435 (1)||2|
|Group H||$420 (3)|
Group A -- All academic and professional appointees classification 16 and above that are eligible for early retirement (object codes 2001, 2401).
Group B -- Summer salary for 10 month appointees (object codes 2010).
Group C -- Monthly appointees that do not fall into Group A (object codes 2000, 2400).
Group D -- Biweekly appointees (object code 2500).
Group E -- Hourly non-students appointees (object codes 3000, 3100, 3200).
Group F -- Supplemental payments for those doing internal consulting (object codes 4580, 4587).
Group G -- Qualified graduate student employees (those who are appointed at 37.5% or more for at least one full semester, and taking at least 6 credit hours).
Group H -- Qualified fellowship recipients (those with a stipend of $2,476 or more per semester).
(1) Health insurance for Student Academic Appointees is a flat fee of $435 (85% institutional share) per year ($165 for the first semester and $270 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 sessions) to all graduate student employees who are involved in research or teaching activities and are appointed at least 50% FTE.
(3) Health insurance for Fellowship Recipients is a flat fee of $420 (85% institutional share) per year ($159 for the first semester and $261 for the second semester and nothing for summer only).