Effective January 1, 2012
Please use these current rates when calculating personnel costs on grant budgets and proposals
Fringe Benefits |
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A |
State Retirement/Group Life |
13.84% |
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B |
FICA (Social Security) and Medicare |
7.65% |
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C |
Unemployment Compensation |
0.40% |
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D |
Worker's Compensation |
0.60% |
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|
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E |
Health Insurance |
see below |
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The rates for the carrier, State Health Plan, are provided below for 2010 (per month per covered employee)
|
Dental |
12-month |
Health & Dental |
9 month |
Health & Dental |
Employee Only |
11.72 |
295.48 |
307.20 |
393.97 |
405.69 |
Employee/Spouse |
11.72 |
581.80 |
593.52 |
775.73 |
787.45 |
Employee/Child |
11.72 |
451.62 |
463.34 |
602.16 |
613.88 |
Full Family |
11.72 |
727.56 |
739.28 |
970.08 |
982.52 |
Note to Principle Investigators:
The amount charged per month for health and dental benefits depends on the type of appointment for the employee. All full time staff and most full time faculty are paid over a 12 month period (even though most faculty have a 9-month appointment). Twelve month appointment rates are applied for faculty with 11 or 12 month appointments. Some long-term faculty members have opted to continue to be paid their annual salary over a nine-month period. In these cases, twelve month health and dental coverages are pro-rated over the nine month period. For budgeting, faculty coverages must be identified on a case-by-case basis. If full-time faculty are to receive salary as extra pay during the summer, they do NOT have to include health or dental benefits in the budget, as 100% of health and dental is already covered in their annual faculty pay. The exception is for faculty who count one of the fall or spring semester months as matching funds for a grant, in which case health and dental are included in the match, and the total must reflect their monthly rate.
New fringe rates are immediately applied to all personnel paid by grants, which can cause the actual salary expenditures from a grant to differ slightly from the originally budgeted amount. The fringe rates from the original proposal budget are not “grandfathered” in. The difference is typically small, and in many cases is easily covered by slight changes in other line item expenditures. However, if you are planning on spending each line item down to the budgeted penny, your numbers have changed slightly and planning out your final expenditures can be confusing. If you are within six months of the end of your grant, you should work with your administrative assistant or Tammy Holt in Grants Accounting to identify changes in expenditure per pay period and projected payments through the end of the grant. Note that these rates also change if your employee has a change in marital or parental status – those types of changes can substantially alter monthly pay rates and may warrant a conversation with Human Resources.
Current rates are located at www.coastal.edu/grants/ under Institutional Information and are updated in January and July of each year.