{"id":2260,"date":"2022-08-22T11:08:08","date_gmt":"2022-08-22T15:08:08","guid":{"rendered":"https:\/\/research.ncsu.edu\/administration\/?page_id=2260"},"modified":"2022-11-09T17:59:58","modified_gmt":"2022-11-09T22:59:58","slug":"fringe-benefits-fy-2017-2018","status":"publish","type":"page","link":"https:\/\/research.ncsu.edu\/administration\/budgeting-guidance\/fringe-benefits\/fringe-benefits-fy-2017-2018\/","title":{"rendered":"Fringe Benefits \u2013 FY 2017-2018"},"content":{"rendered":"\n

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

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

25.68%<\/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
10.78%<\/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
6.05%<\/strong><\/td>for retiree hospital & medical benefits,<\/td>\n<\/tr>\n
0.14%<\/strong><\/td>for retiree disability income plans, and<\/td>\n<\/tr>\n
0.16%<\/strong><\/td>for retiree death benefits plans.<\/td>\n<\/tr>\n
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
0.9%<\/strong><\/td>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\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

$5,984.16<\/strong> per year is the FY 18 fixed employer contribution for employee health insurance. This amount may be prorated for the employee\u2019s 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%.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

NC State\u2019s simplified proposal estimating rate includes: 16.54% 6.20% 1.45% 1.0% 9.35% rounded to 33%.<\/p>\n\n\n\n

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

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

8.65%<\/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
1.0%<\/strong><\/td>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\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

$3,814.20<\/strong> 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%.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

NC State\u2019s simplified proposal estimating rate includes:<\/strong> 8.65% 10% rounded to 19%.<\/a><\/p>\n\n\n\n

Graduate Research Assistants (Non-Exempt)<\/h2>\n\n\n\n

OASDI\/FICA non-exempt per their W-4.<\/p>\n\n\n\n

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

8.65%<\/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
1.0%<\/strong><\/td>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\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

Graduate Student Health Insurance Costs<\/h3>\n\n\n\n

Costs are a fixed cost per year negotiated by NC State.<\/p>\n\n\n\n

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

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>). We suggest using a 10% inflation factor for budgeting for each future academic year.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

NC State\u2019s simplified proposal estimating rate includes: 8.65% 13.16% = 21.81% rounded to 22%.<\/p>\n\n\n\n

Graduate Research Assistants (Exempt)<\/h2>\n\n\n\n

OASDI\/FICA exempt per their W-4.<\/p>\n\n\n\n

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

See Detailed Components<\/h2><\/a>
\n\n\n\n\t\n\t
1.0%<\/strong><\/td>Fixed Benefit Composite Rate. (Set by DHHS, as described above)<\/td>\n<\/tr>\n
2.5%<\/strong><\/td> Contingency for potential changes in Student\u2019s OASDI\/FICA exemption status<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<\/div><\/div><\/div>\n\n<\/div><\/div>\n\n\n\n\n

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.<\/p>\n\n\n\n

Graduate Student Health Insurance Costs<\/h3>\n\n\n\n

Costs are a fixed cost per year negotiated by NC State.<\/p>\n\n\n\n

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

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>). We suggest using a 10% inflation factor for budgeting for each future academic year.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

NC State\u2019s simplified estimating rate includes:<\/strong> 1.0% 2.5% 13.16% = 16.66% rounded to 17%.<\/p>\n","protected":false},"excerpt":{"rendered":"

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