Wednesday, June 4, 2014

FY15 Fringe Benefit Rates Approved for Use on Sponsored Projects

June 4, 2014

The University of Minnesota has reached an agreement with the Department of Health and Human Services (DHHS) on the FY15 fringe benefit rates to be charged under the new Simplify Fringe model.  The future rates and the current rates are shown below:

FY15 Fringe Benefit Rates
Academic = 33.8%
Non-Academic = 26.3%
Graduate with UPlan Health = 21.4%
Graduate with GA Health = 16.6%
Trades/Partial Benefits = 7.7%
FY14 Fringe Benefit Rates
Academic = 33.6%
Non-Academic = 36.8%
Student Professional = 23.1%

The new fringe benefit rates should be used in sponsored proposal budgets for all work that will be conducted on or after July 1, 2014.  PI’s and their staff are encouraged to use the new rates in their proposals immediately if the project will be conducted in the next fiscal year.
To accommodate proposals that have already been submitted to SPA, or are in progress in the academic departments, SPA will allow the old rates to be used during a brief period of transition.  However, all proposals submitted to SPA on or after June 23rd will be expected to incorporate the new rates.  EGMS will be updated shortly to reflect the new fringe benefit rates.

The FY15 fringe rate matrix distributed by the Budget Office is attached and will also be posted shortly on the budget policy page found at  http://www.policy.umn.edu/Policies/Finance/Budget/BUDGET.html.  Please keep in mind that, under the University’s Simply Fringe model the new rates apply to all employees, both full time and part time, who are in the rate group. 

If you have any questions, please see me.

Pam

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