Fringe Benefit Rates

The University of Akron will use fringe benefit pooled rates to simplify the process of allocating and budgeting fringe benefits, as well as providing consistency across the campus.  The new fringe benefit rate includes Life Insurance, Fee Remission (Employee Only), Medical, Medicare, Retirement, SERS Surcharge, Unemployment, Vacation/Sick Leave Payoffs & Worker's Compensation.  The new fringe benefit rate does not include expenses for Parking Permit and Dependent Fee Remission.

Description Ledger
Fringe Benefit Rate  
    7/1/23-6/30/24
7/1/24-6/30/25
Full-Time Faculty  5000 34% of payroll 36.5% of payroll
Full-Time Professional Staff 5100 34% of payroll 36.5% of payroll
Full-Time Staff 5200 34% of payroll 36.5% of payroll
Part-Time Faculty 5030 16.4% of payroll 17% of payroll
Summer Faculty 5040 16.4% of payroll 17% of payroll
Part-Time Professional Staff 5150 16.4% of payroll 17% of payroll
Part-Time Staff 5220 16.4% of payroll 17% of payroll
Graduate Assistant 5300 2.3% of payroll 3.3% of payroll
Student Assistant 5400 2.3% of payroll 3.3% of payroll