Salary and Benefits: Employee Benefit Rates - BC*

Procedures

All Fund Groups Table 1: Employee Benefit Rates for 2021-22**
Benefit & Object CodeRateCalculation
Group Insurance/ Fee Courtesy 562520.53Based on the anticipated budget level for salaries of academic staff, professional staff, and clerical and service staff.
FICA 57606.98Based on the total salary and wages budgeted that are subject to FICA.
Retirement Exempt 577212.34Based on the total participants budgeted salaries.
(PERF) Retirement Non-Exempt 577312.47Based on the total participants budgeted salaries and those wages budgeted in PERF hourly, object code 3050.

Academic Faculty and Exempt Staff total benefit rate is 39.85%. Non-exempt staff total benefit rate is 39.98%.

*Budget Construction
**See “ FY 2021-22 Employee Benefit Calculation Percentages” document.