How are fringe benefits charged?
A. Fringe benefits represent IIT’s costs of providing benefits to employees. Grants and contracts are charged in relation to the portion of each employee’s pay that is charged to a grant/contract account. Each employee has unique circumstances that may determine fringe benefit eligibility and election of benefits. Therefore IIT’s costs associated with benefits may vary widely from one employee to another. As a result of these factors, there may appear to be little relationship between the fringe benefit charges and the fringe benefit budget.
