Fringe Benefits – FY 2017-2018

Faculty and Professional/Administrative Staff

Benefits

25.68% Total Benefits (excluding health insurance)

10.78%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%)
6.05%for retiree hospital & medical benefits,
0.14%for retiree disability income plans, and
0.16%for retiree death benefits plans.
6.20%for federal OASDI/Social Security
1.45%for federal FICA/Medicare and Medicaid
0.9%Fixed Benefit Composite Rate. This component (typically between 0.7% and 1.5%), 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

$5,984.16 per year is the FY 18 fixed employer contribution for employee health insurance. This amount may be prorated for the employee’s actual FTE share dedicated to a given project. Since this fixed dollar amount has a greater impact on lower salaries, NC State uses an average salary of $57,500 to calculate an average ratio of health insurance cost to salary of 9.35%.

The calculation is based on the example salary shown above. You may use actual salaries if you so choose. The dollar value of the salary used effects the percentage value.

NC State’s simplified proposal estimating rate includes: 16.54% 6.20% 1.45% 1.0% 9.35% rounded to 33%.

Post-Doctoral Associates

Benefits

8.65% Total Benefits (excluding health insurance)

6.20%for federal OASDI/Social Security
1.45%for federal FICA/Medicare and Medicaid
1.0%Fixed Benefit Composite Rate for FY 2015. This component (typically between 0.7% and 1.5%), 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

$3,814.20 is the FY 18 fixed cost for post-doctoral health insurance. Since this fixed dollar amount has a greater impact on lower salaries, NC State uses an average salary of $39,000 to calculate an average ratio of health insurance cost to salary of 10%.

The calculation is based on the example salary shown above. You may use actual salaries if you so choose. The dollar value of the salary used effects the percentage value.

NC State’s simplified proposal estimating rate includes: 8.65% 10% rounded to 19%.

Graduate Research Assistants (Non-Exempt)

OASDI/FICA non-exempt per their W-4.

Benefits

8.65% Total Benefits (excluding health insurance)

6.20%for federal OASDI/Social Security
1.45%for federal FICA/Medicare and Medicaid
1.0%Fixed Benefit Composite Rate for FY 2015. This component (typically between 0.7% and 1.5%), 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).


Graduate Student Health Insurance Costs

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.

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). We suggest using a 10% inflation factor for budgeting for each future academic year.

Since this fixed dollar amount has a greater impact on lower salaries, NC State uses an average salary of $16.000, to calculate an average ratio of health insurance cost to salary of 13.16%. The calculation is based on the example salary shown above. You may use actual salaries if you so choose. The dollar value of the salary used effects the percentage value.

NC State’s simplified proposal estimating rate includes: 8.65% 13.16% = 21.81% rounded to 22%.

Graduate Research Assistants (Exempt)

OASDI/FICA exempt per their W-4.

Benefits

1.0%Fixed Benefit Composite Rate. (Set by DHHS, as described above)
2.5% Contingency for potential changes in Student’s OASDI/FICA exemption status

Trend analysis indicates that students coming into an assistantship scenario at this juncture have a small lag in adjusting to OASDI/FICA exemption. This small ratio accommodates the minor adjustment that may be necessary.

Graduate Student Health Insurance Costs

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.

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). We suggest using a 10% inflation factor for budgeting for each future academic year.

Since this fixed dollar amount has a greater impact on lower salaries, NCSU uses an average salary of $16.000, to calculate an average ratio of health insurance cost to salary of 13.16%. The calculation is based on the example salary shown above. You may use actual salaries if you so choose. The dollar value of the salary used effects the percentage value.

NC State’s simplified estimating rate includes: 1.0% 2.5% 13.16% = 16.66% rounded to 17%.