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EMPLOYER (GRANTS) COSTS OF REQUIRED BENEFITS FOR SALARIED POSITIONS FY 03-04
Following is the summary of employer costs for the new fiscal year. These costs are to be applied to all grant budget and contracts effective immediately.
Employer (Grant) Costs of Required Benefits for Salaried Positions:
| FRS |
| Retirement (eff. 7/1/03) - |
7.39% |
| Social Security - FICA - |
7.65% |
| Worker`s Compensation - |
.25% |
| Unemployment Compensation - |
.05% |
| EMPLOYER`S TOTAL COST = 15.34% |
| ORP |
| Retirement (eff. 7/1/03) - |
10.43% |
| Social Security - FICA - |
7.65% |
| Worker`s Compensation - |
.25% |
| Unemployment Compensation - |
.05% |
| EMPLOYER`S TOTAL COST = 18.38% |
| DROP |
| Retirement (eff. 7/1/03) - |
9.11% |
| Social Security - FICA - |
7.65% |
| Worker`s Compensation - |
.25% |
| Unemployment Compensation - |
.05% |
| EMPLOYER`S TOTAL COST = 17.06% |
Employer (Grant) Costs of Required Benefits for Postdoctoral Associate Positions:
| POST DOCS |
| Social Security - FICA - |
7.65% |
| Worker`s Compensation - |
.25% |
| Unemployment Compensation - |
.05% |
| EMPLOYER`S TOTAL COST = 7.95% |
Employer (Grant) Costs of Employee Option Benefits for Salaried and Postdoctoral Associate Positions:
| State Employee`s Group Health Plan ( effective 12/12/03) |
| Individual: $288.68 (monthly |
$3,464.16 (annually) |
| Family: $590.30 (monthly) |
$7,083.60 (annually) |
| Spouse: $382.71 (monthly) |
$4,592.52 (annually) |
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State of Florida Group Term Life Insurance
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| EMPLOYER`S COST |
Approximately .24% of employee`s salary. |
Employer (Grant) Cost of Required Benefits for Non-Student OPS and Student OPS:
| NON-STUDENT OPS |
| Social Security - FICA - |
7.65% |
| Worker`s Compensation - |
.25% |
| Unemployment Compensation - |
.05% |
| EMPLOYER`S TOTAL COST = 7.95% |
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| STUDENT OPS |
| Worker`s Compensation - |
.25% |
Note: Personnel Service Assessment for support staff: *No longer assessed to universities.
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Volume 4 - Number 49
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Section 1 - Don't Forget
Section 2 - What's New?
Section 3 - In the News
Section 4 - New Funding Ops
Section 5 - Internal Deadlines
Section 6 - Conferences & Workshops
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