Estimated Fringe Benefits Rates for FY 2024
Estimated Fringe Benefit Rates for FY 2024:
- Faculty with 9-month appointments: 31.6%
- Staff with KTRS or ORP Retirement and Faculty with Extended Appointments: 34.2%
- Staff with KERS Retirement: 35.1%
- Staff with Hazardous Duty Retirement: 50.9%
- Retirement Transition Program Employees and Previous Retirees (part-time): 20.9%
- Part Time Employees without Benefits: 8.0%
- Students hired through Student Employment*: 1.1%
*If students are not hired through Student Employment (i.e., because they are not registered for enough hours to qualify for student employment), they must be budgeted as part-time employees with the benefits rate of 8.0%.
All awarded sponsored projects will be charged the final rates, regardless of the rates budgeted. Budget revisions will be necessary for awards without a sufficient amount of funds allocated to cover benefits costs.
Project directors who expect to receive continuation funding for projects with awards that expire on June 30, 2023 are encouraged to submit documents for internal review as soon as possible. As a reminder, proposed budgets require University approval prior to being submitted to external agencies.
Please feel free to contact our office with any questions.
Published on February 15, 2023