Fringe Benefits – FY 2023-2024
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
33.37% Total Benefits (excluding health insurance)
See Detailed Components
| 17.64% | 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%) |
| 7.14% | for retiree hospital and medical benefits |
| 0.11% | 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 |
| 0.7% | 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
$7,557 per year is the FY 23 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
8.35% Total Benefits (excluding health insurance)
See Detailed Components
| 6.20% | for federal OASDI/Social Security |
| 1.45% | for federal FICA/Medicare and Medicaid |
| 0.7% | 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
$5,594 is the FY 23 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
8.35% Total Benefits (excluding health insurance)
See Detailed Components
| 6.20% | for federal OASDI/Social Security |
| 1.45% | for federal FICA/Medicare and Medicaid |
| 0.7% | 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
$3,093 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
8.35% Total Benefits (excluding health insurance)
See Detailed Components
| 6.20% | for federal OASDI/Social Security |
| 1.45% | for federal FICA/Medicare and Medicaid |
| 0.7% | 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). |