Effective July 1, 2015

DRAFT - 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 30.0% of payroll
Part-time Faculty 5030 17.8% of payroll
Summer Faculty 5040 17.8% of payroll
Full-time Contract Professional 5100 33.8% of payroll
Part-time Contract Professional 5150 17.8% of payroll
Full-time Staff  5200 45.6% of payroll
Part-time Staff 5220 33.8% of payroll
Graduate Assistant 5300 3.2% of payroll
Student Assistant 5400 3.2% of payroll

Effective until June 30, 2015

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