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What are fringe benefits and how should they be determined?

April 26, 2017Benefits Fringe

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What are fringe benefits and how should they be determined?

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10 Posted

A budget line item which covers the institution s contribution to the benefits of employees. Fringe benefits include the institution s contribution to retirement funds, medical insurance, and social security. At UT a standard rate is used in estimating benefits for proposal budgets, however the actual fringe benefits will be charged on all grants and contracts. The Office of Budget and Finance calculates the estimated rate to be used in proposals. The current staff benefits rate is 28%.