Memorandum

 

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:

Rate      Change   

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