Overview & FAQs
What is a fringe benefits pool?
Without a fringe benefits pool, departments/projects are charged fringe benefits expenses based on employees’ actual benefits selections for retirement, health insurance, etc. The fringe benefits pool concept calculates a blended rate for benefits costs which is applied to employees’ wages to account for fringe benefits expense at the departmental/project level.
What is the benefit of utilizing a fringe benefits pool?
The fringe benefits pool concept makes employee-related costs more consistent and predictable for departments/projects, simplifying the preparation and administration of budgets.
Will the utilization of a fringe benefits pool impact employees?
No, there will be no impact on employee pay or benefits.
What benefits are included in the fringe benefits rate?
- Insurance – health, life, and disability
- Retirement
- FICA
- Workers’ compensation
- Reemployment compensation
- Terminal leave payouts
How will this change be reflected on the ledgers?
For information on accounting changes, visit https://controller.vpfa.fsu.edu/fringe-benefits-pool.
Please see the Fringe Benefits Pool Implementation FAQs document for additional questions and answers.
Project Team/Contacts
The fringe benefits pool project team is comprised of representatives from the below offices.
- Budget Office - Katie Perkins, Chief Budget Officer (kperkins@fsu.edu)
- Controller's Office - Judd Enfinger, University Controller (jenfinger@fsu.edu)
- Information Technology Services
- Office of Human Resources - Christine Conley, Director of Benefits/Attendance & Leave (caconley@fsu.edu)
- Office of Research - Pam Ray, Senior Director of Sponsored Research Administration (pray2@fsu.edu)
Anticipated Project Timeline
- March/April – Fiscal year 2024-2025 budgets should be developed using the anticipated rates outlined below. The Budget Office will conduct training sessions and provide assistance to department budget representatives during the Adaptive Planning budgeting process. Visit https://budget.fsu.edu/annual-operating-budget-information for details.
- March/April – The Office of Research will communicate changes impacting sponsored projects.
- Prior to July – The Controller’s Office will communicate changes impacting general ledger accounts used to record wage and fringe benefits expenses.
- July – New fringe benefits process is active for payroll A. The new pool rates will also be applied to any retroactive pay or changes processed in 2024-2025.
Anticipated 2024-2025 Fringe Benefits Pool Rates
The rates below have been submitted to the United States Department of Health and Human Sciences (DHHS) for review and approval. These are the most current draft rates available and should be used for research proposals. A previous, slightly different set of rates was used to build annual operating budgets for 2024-2025. No changes will be made to those departmental budgets at this point, but once rates receive final DHHS approval, the Budget Office will initiate related adjustments and contact impacted departments.
Pay | Group | Type | Draft 2024- 2025 Rate1 | Identifier |
---|---|---|---|---|
Base | Clinical Faculty | Salaried | 27.9% | Salary Admin Plan = 022 and Employee Class = Clinical |
Base | Faculty | Salaried | 30.3% | Salary Admin Plan = 022 or 022A (excluding Employee Class = Clinical) |
Base | Executive Service | Salaried | 30.3% | Salary Admin Plan = 024 |
Base | Athletic Coaches | Salaried | 30.3% | Salary Admin Plan = 021, only Job Codes 9467, 9468, 9469, 9470 |
Base | A&P | Salaried | 41.4% | Salary Admin Plan = 021 (excluding Job Code = 9467, 9468, 9469, 9470) |
Base | Charter School Faculty | Salaried | 50.7% | Salary Admin Plan = 022B |
Base | USPS | Salaried | 54.3% | Salary Admin Plan = 023 |
Base | Post Docs | OPS | 21.0% | Job Code = M9189, M9189P |
Base | Graduate Assistants | OPS | 8.4% | Job Code = M9182, M9183, M9184, W9185, Z9185 |
Base | Students | OPS | 1.7% | Job Codes beginning with "A" (excluding Earnings Code FWS) |
Base | OPS & Temps | OPS | 8.4% | All other OPS (excluding Job Codes M9182, M9183, M9184, M9189, M9189P, W9185, Z9185, or beginning with "A") |
Non-Base | Athletic Coach Supplements | All | 2.0% | Earnings Code AAW |
Non-Base | Bonuses and One-Time Pays | All | 6.2% | Any non-base pay without retirement applied (See list) |
Non-Base | Overtime and Supplements | All | 18.5% | Any non-base pay with retirement applied (See list) |
Revised 5/14/2024; DHHS approval pending |