What variables go into calculating the true cost of release time requested by a faculty member as part of a sponsored project?
Release time calculations should take into account staff or faculty members’ actual prorated salary as well as fringe benefits (e.g., health insurance), FICA (social security; 7.65%) and workers compensation withholding (2.0%), and retirement plan contributions (percentages vary by plan). Such calculations also are complicated by the need to project the numbers for future years in a multi-year budget. The Director of FGS is available and very willing to work with staff and faculty grant seekers to ensure the accuracy of release time calculations. He will gladly contact the appropriate person in the Budget Office and request that she generate a personalized release time quote.
