Fringe Benefits Rates
NEW RATES EFFECTIVE JULY 1, 2013
Fringe benefits should be charged on proposals at a rate that is consistent with the rates established by the ISU Vice President for Business and Finance. Fringe benefit rates will be updated and posted annually.
If you have any questions about the information in this memo, please contact either the Office of Sponsored Programs Administration - 515.294.5225, or the Vice-President for Business and Finance Department - 515.294.8264.
** PLEASE NOTE: These are average rates only and the actual costs can vary significantly depending on the salary level of the person and the health insurance plan they choose. For example, lower paid employees have higher rates.
The PI on the award is responsible for paying the benefits, even if they are higher than calculated using the average percentage rate. It is also very important to note that persons who work less than full time but at least half-time get full medical coverage and thus have significantly higher benefit percentage than full-time employees.
The alternative to using the posted average rates is to use actual rates when it is higher than the average. Documentation (printed from ADIN) should cover at least four months of the designated persons employment at ISU and be attached to the GoldSheet. The use of actual rates is subject to College Approval.
|FY 2014 Rates Table **|
Percent (%) of Salary & Wages
|Faculty (A&B base)||31.5%|
|Professional and Scientific||37.8%|
|Clerical and Technical (Merit)||50.0%|
|Student Hourly Employees||4.6%|