Effective July 1, 2014

NEW 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.  

Pool Description	Pool Account	Fringe Benefit Rate
Full-time Faculty	5000	28.6% of payroll
Part-time Faculty	5030	17.3% of payroll
Summer Faculty	5040	17.3% of payroll
Full-time Contract Professional	5100	31.4% of payroll
Part-time Contract Professional	5150	17.3% of payroll
Full-time Staff	5200	42.7% of payroll
Part-time Staff	5220	28.7% of payroll
Graduate Assistant	5300	3.1% of payroll
Student Assistant	5400	3.1% of payroll

 

Effective until June 30, 2014

Pool Description	Pool Account	Fringe Benefit Rate
Faculty	5000	26.7% of payroll
Contract Professional	5100	31.78% of payroll
Staff	5200	41.2% of payroll
Graduate Assistant	5300	2% of payroll
Student Assistant	5400	5.45% of payroll

• Visit Parking Services website for parking permit prices
• Fringe benefits information in pdf form