New Fringe Rate Categories
December 18, 2023 By John Traversaro
Effective January 1, 2024, there are now three fringe benefit rates instead of one composite rate for permanent employees.
- Faculty TSERS – 34.510%
- Faculty ORP – 23.580%
- SHRA/EHRA Non-Faculty – 36.910%
Proposal Budgeting
For all proposals submitted on or after February 1, 2024, the composite rate will no longer be accepted. The use of one of the three fringe benefit rates will be required for budgeting personnel in their appropriate category on all sponsored project proposals. When budgeting for faculty, departments should also indicate in the proposal budget if the faculty member has elected the TSERS or ORP retirement plan.
Updated Fringe Resources
Please refer to the FY24 Fringe Benefit memo (PDF), updated Schedule I & II (PDF), and Information Sheet to appropriately determine personnel benefit rates.
The SPO NIH Focused Budget Template has been updated with the new rates. Download Your Copy Today!