New Fringe Benefit Rates in Effect in COEUS - 03/18/10
Sponsored Program Services (SPS) informs COEUS users who develop budgets that the new Fringe Benefit Rates, including graduate staff benefit rates, have been finalized and the system has been updated.
The changes will simplify the budgeting process by automatically including grad student insurance costs in accordance with the University-approved fringe benefit rates.
Starting immediately, users should stop budgeting grad insurance as a separate line item. The cost element 008281–Graduate Student Insurance has been changed to “DO NOT USE” for clarification purposes.
To accommodate the different FTE (full-time equivalent) level fringe rates for grad students, four new cost elements have been developed in COEUS to ensure the proper calculation of insurance/fringe rates. The cost elements are:
• 008230: Personnel – Grad Staff (.50 FTE) = 6.7 percent
• 008231: Personnel – Grad Staff (1.0 FTE) = 3.1 percent
• 008232: Personnel – Grad Staff (.75 FTE) = 4.2 percent
• 008233: Personnel – Grad Staff (NO INSURANCE) = 0.4 percent
When the budget includes a graduate student at .25 FTE, and it is expected the graduate student will also hold an additional .25 FTE position, fringe benefits should be budgeted at the rate for a .50 FTE – 6.7 percent. Graduate students employed at .25 FTE, and graduate students at the Calumet, Fort Wayne, and North Central campuses do not receive insurance and should be budgeted at 0.4 percent.
Please make certain the appropriate cost element is used for budgeting grad staff salary so the accurate rates are applied. All other budgeting processes will remain unchanged and should be completed as normal.
Proposals with final and complete budgets that have already been routed for academic or SPS approvals need not be updated. However, any budget currently being developed or future copies of historic records will need to have the appropriate cost elements updated and the proposal rates will need to be synced. For instructions on how to sync budget rates, please visit the online Administrative Proposal Manual found on the COEUS Web site.
Please direct questions or concerns regarding the system update to Chris Tompkins, research administration system manager, Sponsored Program Services, 496-9651.