{"id":13966,"date":"2024-07-17T15:28:12","date_gmt":"2024-07-17T19:28:12","guid":{"rendered":"https:\/\/research.ncsu.edu\/administration\/?page_id=13966"},"modified":"2024-07-17T15:36:26","modified_gmt":"2024-07-17T19:36:26","slug":"fringe-benefits-fy-2023-2024","status":"publish","type":"page","link":"https:\/\/research.ncsu.edu\/administration\/budgeting-guidance\/fringe-benefits\/fringe-benefits-fy-2023-2024\/","title":{"rendered":"Fringe Benefits – FY 2023-2024"},"content":{"rendered":"\n\n\n\n\n

Faculty and Professional \/ Administrative Staff<\/h2>\n\n\n\n

Benefits<\/h3>\n\n\n\n

33.37%<\/strong> Total Benefits (excluding health insurance)<\/p>\n\n\n

<\/span><\/span>

See Detailed Components<\/h2><\/a>
\n\n\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t
17.64%<\/strong><\/td>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%)<\/td>\n<\/tr>\n
7.14%<\/strong><\/td>for retiree hospital and medical benefits<\/td>\n<\/tr>\n
0.11%<\/strong><\/td>for retiree disability income plans<\/td>\n<\/tr>\n
0.13%<\/strong><\/td>for retiree death benefits plans<\/td>\n<\/tr>\n
6.20%<\/strong><\/td>or federal OASDI\/Social Security<\/td>\n<\/tr>\n
1.45%<\/strong><\/td>for federal FICA\/Medicare and Medicaid<\/td>\n<\/tr>\n
0.7%<\/strong><\/td>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\u2019 Compensation and other expenses due when a permanent employee\u2019s status changes (e.g., retirement, termination, unemployment and disability).<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<\/div><\/div><\/div>\n\n<\/div><\/div>\n\n\n\n
\n\n\n\n

Health Insurance Direct Costs<\/h3>\n\n\n\n

$7,557<\/strong> per year is the FY 23 fixed employer contribution for employee health insurance (established by the state and subject to revision annually).<\/p>\n\n\n\n

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.<\/em><\/a><\/p>\n\n\n\n

Post-Doctoral Associates<\/h2>\n\n\n\n

Benefits<\/h3>\n\n\n\n

8.35%<\/strong> Total Benefits (excluding health insurance)<\/p>\n\n\n

<\/span><\/span>

See Detailed Components<\/h2><\/a>
\n\n\n\n\t\n\t\n\t
6.20%<\/strong><\/td>for federal OASDI\/Social Security<\/td>\n<\/tr>\n
1.45%<\/strong><\/td>for federal FICA\/Medicare and Medicaid<\/td>\n<\/tr>\n
0.7%<\/strong><\/td>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\u2019 Compensation and other expenses due when a permanent employee\u2019s status changes (e.g., retirement, termination, unemployment and disability).<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<\/div><\/div><\/div>\n\n<\/div><\/div>\n\n\n\n
\n\n\n\n

Health Insurance Direct Costs<\/h3>\n\n\n\n

$5,594<\/strong> is the FY 23 fixed cost for post-doctoral health insurance. The costs are a fixed cost per year negotiated by UNC System \u2013 (Current Rates<\/a>).<\/p>\n\n\n\n

Graduate Research Assistants<\/h2>\n\n\n\n

Benefits<\/h3>\n\n\n\n

8.35%<\/strong> Total Benefits (excluding health insurance)<\/p>\n\n\n

<\/span><\/span>

See Detailed Components<\/h2><\/a>
\n\n\n\n\t\n\t\n\t
6.20%<\/strong><\/td>for federal OASDI\/Social Security<\/td>\n<\/tr>\n
1.45%<\/strong><\/td>for federal FICA\/Medicare and Medicaid<\/td>\n<\/tr>\n
0.7%<\/strong><\/td>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\u2019 Compensation and other expenses due when a permanent employee\u2019s status changes (e.g., retirement, termination, unemployment and disability).<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<\/div><\/div><\/div>\n\n<\/div><\/div>\n\n\n\n
\n\n\n\n

Health Insurance Direct Costs<\/h3>\n\n\n\n

$3,093<\/strong> Graduate Student Support Plan benefit rates<\/a> for current academic year (August 1 \u2013 July 31) fixed cost for graduate student health insurance on the RA-TA Plan (GSSP<\/a>). The costs are a fixed cost per year negotiated by NC State. If the student meets GSSP eligibility requirements<\/a>, they are eligible for enrollment in the RA-TA Health Insurance Plan.<\/p>\n\n\n\n

Temporary\/Biweekly Payroll Employee<\/h2>\n\n\n\n

Benefits<\/h3>\n\n\n\n

8.35%<\/strong> Total Benefits (excluding health insurance)<\/p>\n\n\n

<\/span><\/span>

See Detailed Components<\/h2><\/a>
\n\n\n\n\t\n\t\n\t
6.20%<\/strong><\/td>for federal OASDI\/Social Security<\/td>\n<\/tr>\n
1.45%<\/strong><\/td>for federal FICA\/Medicare and Medicaid<\/td>\n<\/tr>\n
0.7%<\/strong><\/td>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\u2019 Compensation and other expenses due when a permanent employee\u2019s status changes (e.g., retirement, termination, unemployment and disability).<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<\/div><\/div><\/div>\n\n<\/div><\/div>\n\n","protected":false},"excerpt":{"rendered":"

Faculty and Professional \/ Administrative Staff Benefits 33.37% Total Benefits (excluding health insurance) Health Insurance Direct Costs $7,557 per year is the FY 23 fixed employer contribution for employee health insurance…<\/p>\n","protected":false},"author":16,"featured_media":0,"parent":2252,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"source":"","ncst_custom_author":"","ncst_show_custom_author":false,"ncst_dynamicHeaderBlockName":"ncst\/default-header","ncst_dynamicHeaderData":"{\"pageIntro\":\" 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.\"}","ncst_content_audit_freq":"","ncst_content_audit_date":"","ncst_content_audit_display":false,"ncst_backToTopFlag":"","footnotes":""},"tags":[],"class_list":["post-13966","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nFringe Benefits - FY 2023-2024 - Research Administration and Compliance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/research.ncsu.edu\/administration\/budgeting-guidance\/fringe-benefits\/fringe-benefits-fy-2023-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fringe Benefits - FY 2023-2024 - Research Administration and Compliance\" \/>\n<meta property=\"og:description\" content=\"Faculty and Professional \/ Administrative Staff Benefits 33.37% Total Benefits (excluding health insurance) Health Insurance Direct Costs $7,557 per year is the FY 23 fixed employer contribution for employee health insurance…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/research.ncsu.edu\/administration\/budgeting-guidance\/fringe-benefits\/fringe-benefits-fy-2023-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Research Administration and Compliance\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-17T19:36:26+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/research.ncsu.edu\\\/administration\\\/budgeting-guidance\\\/fringe-benefits\\\/fringe-benefits-fy-2023-2024\\\/\",\"url\":\"https:\\\/\\\/research.ncsu.edu\\\/administration\\\/budgeting-guidance\\\/fringe-benefits\\\/fringe-benefits-fy-2023-2024\\\/\",\"name\":\"Fringe Benefits - 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