Matching Fringe Benefits

2008-2009

This page is for budget planning purposes only. For information on benefits, contact the Insurance and Benefits section of Human Resources or the Division of State Group Insurance. Actual rates used in payroll calculation are maintained by Payroll Services; see FSU Policies and Procedures, section OP-D-2, pertaining to Payroll.

• Workers' Comp/Unemployment
• Retirement and FICA
• Health Insurance
• Life Insurance
• Historical Rates
  

Workers' Comp/Unemployment

Costs for Workers' Compensation and Unemployment Insurance are assessed differently in each Budget Entity:

E&G:

These costs are handled centrally from overall salary surplus.

Auxiliaries:

The Auxiliary Service Board addresses Workers' Comp costs when the University is billed. Unemployment Insurance is addressed by Auxiliary Overhead assessments.

C&G:

An assessment of 0.30% is made on both salaried and OPS C&G appointments to cover these costs. For more information see the Sponsored Research Facts Sheet. (Note: the C&G assessment was reduced from 0.60% effective 07/01/2002.)

Retirement and FICA

Rates effective July 1, 2008, unchanged from those in effect for the 2007-2008 plan year.
Employer contribution rates for all plans including those not in use at FSU are available at the Florida Division of Retirement website.  Rates subject to the Governor's approval.

FICA consists of 6.20% OASDI and 1.45% Hospital Insurance (Medicare).

There is no cap for Medicare, but the maximum salary on which OASDI will be charged, as of January 1, 2008, is $102,000. (This is effective through December 31, 2008, and is the amount that will be used in benefits calculation in the Operating Budget.)

The OASDI cap changes each year effective January 1 based on the "contribution and benefit base" calculated each year by SSA (usually in October). For more information see the "OASDI Contribution and Benefit Base" page at the Social Security Administration.

Health Insurance

Health insurance premiums are flat rates depending on plan. For employees appointed at less than 67% personyear the University only pays the premium times personyear. If an employee is appointed at 67% personyear or more, then the University is responsible for budgeting the 100% premium. For executive service the employer pays the total premium, including what is normally the employee's portion. Note: the biweekly amount is for 24 pay periods, regardless of months appointed.

The employer rates for state health insurance are increasing as of June 1, 2009. Shown here are the employer amounts that will be in effect during FY 2008-2009.
 

*Annual Cost for Fiscal Year 2008-2009 includes ten months (20 biweeklies) at the 07/01/2008 rate and two months (4 biweeklies) at the 06/01/2009 rate.

Life Insurance

Current rates through December 31, 2008:

Approximate annual cost for most employees is:

annual salary * 0.0031104

Approximate annual cost for Executive Service is:

annual salary * 0.0051840

Annual cost for Executive Service disability coverage is:

annual salary * 0.00525

Rates effective January 1, 2009:

Historical Rate

• Matching Fringe Benefits for 2007-2008
• Matching Fringe Benefits for 2006-2007
• Matching Fringe Benefits for 2005-2006
• Matching Fringe Benefits for 2004-2005
• Matching Fringe Benefits for 2003-2004
• Matching Fringe Benefits for 2002-2003
• Matching Fringe Benefits for 2001-2002
• Matching Fringe Benefits for 2000-2001
• Matching Fringe Benefits for 1999-2000
• Matching Fringe Benefits for 1998-1999
• Matching Fringe Benefits for 1997-1998