糖心Vlog uses a set of fixed rates to charge fringe benefits based on an employee鈥檚 costing allocation.聽 The fringe benefit rate is applied to the gross salary expenses of defined employee groups.聽
Fringe Pool Methodology
All employees have certain fringe benefits that are associated with their employment.聽 The fringe benefit rate is an average of all eligible benefit costs (such as social security, Medicare, health insurance, retirement, life insurance, and disability insurance) applicable to the University鈥檚 various employee groups which are listed below.
- Faculty
- Administrative, Professional, & Managerial (AMP)
- 聽Support Personnel (SP)
- Post-Doctoral
- OPS
- OPS adjunct
- OPS non-students
- OPS students
- OPS College of Medicine
- OPS Other FICA Alternative
There are some fringe benefit rates which are based solely on the type of earning paid to the employee.聽 A few examples include, but not limited to:
- Bonus
- University Merit Payment
- Stipend
- Relocation Expense
- Performance Payment
- Research Participant Payment
Fringe benefits are budgeted and expensed as a percentage of actual salary or wage costs.聽 Fringe charge rates will be analyzed and updated annually prior to the beginning of the budget year.聽 The rates will be adjusted to reflect changes in the University鈥檚 actual benefit costs.