Employee Benefit Calculation Percentages - BC*

Activity: Employee Benefit Calculation Percentages - BC
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Things to Know:

Table 1: Employee Benefit Rates for 2016-17**

Benefit & Object Code

Rate

Calculation

Group Insurance/Fee Courtesy

5625

19.27

Based on the anticipated budget level for salaries of academic staff, professional staff, and clerical and service staff.

FICA

5760

6.93

Based on the total salary and wages budgeted that are subject to FICA.

Retirement

Exempt

5772

13.68

Based on the total participants budgeted salaries.

(PERF) Retirement

Non-Exempt

5773

12.57

Based on the total participants budgeted salaries and those wages budgeted in PERF hourly, object code 3050.

**Please see Employee Benefit Calculation Percentages for FY 2016-17. These rates are included in the budget construction guidelines.

*BC - Budget Construction