Dear Colleagues,

 

I would greatly appreciate details on your FY07 and projected FY08 employee fringe benefits rates, as we are preparing to submit our rate proposal to our cognizant agency but having a bit of an internal struggle over some elements of the calculations.  Because I’d like to compare apples with apples, it would be helpful to know what your rate is, to what employee group it applies, and what components comprise the rate.

 

For example, the University of New Hampshire FY07 fringe benefits rate for all faculty and staff who are eligible for full benefits is 42.3%.  Our FY08 rate is expected to be 41%.  These are the components of the full benefits rate:

 

Compensated Absences (earned time, vacation, compensated absences accruals); Medical Programs (medical coverage and eye care, dental program); Retirement and Social Security (early retirement and separate incentive programs, additional retirement contribution, TIAA/CREF & Fidelity, Social Security, Federal Retirement/ Life Program); Tuition Waivers and Other Benefits (unemployment compensation, long-term disability, interim disability coverage, life insurance, workers’ compensation, staff & faculty tuition benefits, employee life fitness program, and other staff benefits.)

 

If you have a url for your rate agreement and it is easier for you to point me in that direction, that would be great.  Please respond to me at xxxxxx@unh.edu .  Many thanks for your help,

 

Kathy Cataneo