|To:||Deans, Directors, and Department Heads|
|Subject:||Special Benefits Rates|
|Date:||June 21, 2018|
Special benefits rates are applied to all projects to provide funds to pay special personnel benefits specified on this site: http://budget.ncsu.edu/budgetoffice/documents/SpecialFringeBenefitsPools.pdf.
On a monthly basis, the special benefits rates are automatically charged to the salary expenditures of each project.
The university level projects that pool these funds are analyzed periodically to assure sufficient cash flow to meet anticipated costs. Based on our recent analysis and projected future needs, effective July 1, 2018 the special benefits rates are as follows:
Academic Affairs (16030) 0.70% No change
Agricultural Research (16031) 0.60% No change
Cooperative Extension (16032) 0.60% No change
Non-State Funded Projects (excluding ledger 5) 1.00% 0.40 increase
Contracts and Grants (ledger 5) 0.40% 0.50 decrease
The decrease in the rates is driven by lower unemployment insurance. The increase in the rates is driven by higher workers compensation costs.
If you have any questions concerning these rates, please contact me at 513-1263.
cc: W. Randolph Woodson, Chancellor
Warwick A. Arden, Executive Vice Chancellor and Provost
Alan H. Rebar, Vice Chancellor, Research, Innovation and Economic Development
Scott R. Douglass, Vice Chancellor, Finance and Administration
Marie Williams, Associate Vice Chancellor, Human Resources
Mary Peloquin-Dodd, Associate Vice Chancellor, Finance and University Treasurer
Joe Williams, Director, Benefits and Leave Administration
Heidi Kozlowski, Interim Controller, University Controller’s Office
Sharon Wright, HR Systems Data and Reporting Analyst, Budget Office