Fringe Benefits

FY 2020-2021

Show estimated fringe benefit costs as separate budget lines or object codes in a cost reimbursement budget. The university establishes individual rates for the categories of employee listed below. Based on historic trends, SPARCS recommends a 5% initial-year escalation for health insurance costs.

Faculty and Professional/Administrative Staff

Benefits

30.73% Total Benefits (excluding health insurance)

14.78%for The State Employees Retirement System (TSERS) Pension Fund; for all other full-time State Personnel Act (SPA) and Exempt from Personnel Act (EPA) Professional/Administrative Staff. (For faculty participating in the Optional Retirement System, substitute 6.84%)
6.68%for retiree hospital and medical benefits
0.09%for retiree disability income plans
0.13%for retiree death benefits plans
6.20%or federal OASDI/Social Security
1.45%for federal FICA/Medicare and Medicaid
1.40%Fixed Benefit Composite Rate. This component, collected monthly from every payroll account, is used to pay required expenses not attributable to a single project or department. It includes Workers’ Compensation and other expenses due when a permanent employee’s status changes (e.g., retirement, termination, unemployment and disability).


Health Insurance Direct Costs

$6,512 per year is the FY 21 fixed employer contribution for employee health insurance (established by the state and subject to revision annually).

Please remember that for academic-year appointees, health insurance is charged over the 9-month appointment (1/9 of annual insurance costs per month). No additional insurance costs apply to summer salary.

Post-Doctoral Associates

Benefits

9.05% Total Benefits (excluding health insurance)

6.20%for federal OASDI/Social Security
1.45%for federal FICA/Medicare and Medicaid
1.40%Fixed Benefit Composite Rate. This component, collected monthly from every payroll account, is used to pay required expenses not attributable to a single project or department. It includes Workers’ Compensation and other expenses due when a permanent employee’s status changes (e.g., retirement, termination, unemployment and disability).


Health Insurance Direct Costs

$4,326 is the FY 21 fixed cost for post-doctoral health insurance. The costs are a fixed cost per year negotiated by UNC System – (Current Rates).

Graduate Research Assistants

Benefits

9.05% Total Benefits (excluding health insurance)

6.20%for federal OASDI/Social Security
1.45%for federal FICA/Medicare and Medicaid
1.40%Fixed Benefit Composite Rate. This component, collected monthly from every payroll account, is used to pay required expenses not attributable to a single project or department. It includes Workers’ Compensation and other expenses due when a permanent employee’s status changes (e.g., retirement, termination, unemployment and disability).


Health Insurance Direct Costs

$2,620 Graduate Student Support Plan benefit rates for current academic year (August 1 – July 31) fixed cost for graduate student health insurance on the RA-TA Plan (GSSP). The costs are a fixed cost per year negotiated by NC State. If the student meets GSSP eligibility requirements, they are eligible for enrollment in the RA-TA Health Insurance Plan.

Temporary/Biweekly Payroll Employee

Benefits

9.05% Total Benefits (excluding health insurance)

6.20%for federal OASDI/Social Security
1.45%for federal FICA/Medicare and Medicaid
1.40%Fixed Benefit Composite Rate. This component, collected monthly from every payroll account, is used to pay required expenses not attributable to a single project or department. It includes Workers’ Compensation and other expenses due when a permanent employee’s status changes (e.g., retirement, termination, unemployment and disability).

Prior-Year Fringe Benefit Rates

A history of fringe benefit rate components is available at https://budget.ncsu.edu/budgetoffice/documents/BenefitsHistory.pdf.