Fringe Benefits Rate Update
The University has recently entered into a Federally-negotiated rate agreement for fringe benefits, which defines the rates that may be charged to grants and contracts for the period beginning July 1, 2014. These rates will remain in effect until a new rate agreement is issued.
The updated rates are as follows and should be used in all grant and contract budgets effective immediately.
Exempt Staff: 35.20%
Non-Exempt Staff: 62.60%
Part-Time Staff without Benefits: 7.80%
Part-Time Exempt Staff (retired): 8.00%
While revisions are not required on existing grant and contract budgets, these rates will be charged for all personnel expenses incurred this fiscal year. As always, project directors are advised to monitor expenses and process budget revisions as needed, thanks.
Published on July 24, 2014