DATE: February 8, 2021
TO: Deans, Directors, Department Heads, and Fiscal Officers
FROM: Office of Budget & Planning
RE: University Program Fringe Benefit Rates for FY22
The University has developed composite fringe benefit rates for FY22 for the University Program accounts. These rates are charged against employees on all non-sponsored research accounts, including those funded by tuition, state appropriation, auxiliaries, research IDC, fees, outside revenue and foundation. Ledgers 2, 3, 4 and some 6 (foundation accounts) all use these University Program rates. The new rates are effective with the first pay period in FY22 which will begin June 4, 2021.
The fringe rates are based on a combination of anticipated inflation and actual individual selections of retirement and health insurance plans. Please see below for a summary of the rates by employee group.
We will be providing departments with permanent funding to cover the fringe rate increases for Ledger 2 (OPTUI) accounts only. This will be done as part of the initial Budget Construction load. We will be sending a spreadsheet to each organization in the next two weeks with their total permanent funding and the total fringe rate adjustment amounts.
The University establishes distinct rates for University Program accounts and for Sponsored Programs accounts. The Sponsored Program rates will be provided separately.
If you have any questions on the University Program rates, please contact your assigned budget analyst or the Office of Budget & Planning at email@example.com.
File Attachment: FY22 University Program Fringe Rates