- Date of Last Review/Update: 06-02-2023
- Updated Status:
- Employee Benefit Rates - BC*
Benefit & Object Code | Rate | Calculation |
Group Insurance/Benefits 5625 | 22.82 | Based on the anticipated budget level for salaries of academic staff, professional staff, and clerical and service staff. |
FICA 5760 | 6.55 | Based on the total salary and wages budgeted that are subject to FICA. |
Retirement Exempt 5772 | 11.19 | Based on the total participants budgeted salaries. |
(PERF) Retirement Non-Exempt 5773 | 11.06 | Based 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 40.56%. Non-exempt staff total benefit rate is 40.56%.
*Budget Construction
**See “FY 2023-24 Employee Benefit Calculation Percentages” document.