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Clemson University Pooled Fringe Benefit Rates Update

Clemson University Pooled Fringe Benefit Rates Update. Fiscal Year 2009. updated 7/1/08. Fringe Benefits at Clemson. Clemson University offers many benefits to all employees Clemson’s pooled fringe benefit rates group all of the benefits offered into four rates

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Clemson University Pooled Fringe Benefit Rates Update

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  1. Clemson UniversityPooled Fringe Benefit Rates Update Fiscal Year 2009 updated 7/1/08

  2. Fringe Benefits at Clemson • Clemson University offers many benefits to all employees • Clemson’s pooled fringe benefit rates group all of the benefits offered into four rates • A pooled fringe benefit rate is a percent of employer fringe expense to gross salary for defined groups of employees • Pooled fringe benefit rates are submitted annually for approval by the Federal Government

  3. Pooled Fringe Benefit Method is a Best Practice • Provides a simpler calculation for monthly expenditures • Provides a simpler budget calculation for both departments and grants • Used by top research institutions and top 20 institutions

  4. Pooled Fringe Benefits? • The Federal Government allows employer fringe benefits to include: • Employer Taxes and Worker’s Compensation • Health and Retirement Plans • Other Employee Programs • Tuition Plans, Wellness Programs, Daycare Operations • Other common benefits • Clemson’s pooled fringe benefit rates include: • Employer Taxes and Worker’s Compensation • Health and Retirement Plans • Employee Free Tuition • Termination Pay

  5. Pooled Fringe RatesSubmitted for FY2009 Clemson employees are grouped based on benefit program code: • 9 Month Employees = 27.9% • 12 Month Employees = 32.8% • Students = 6.2% • Part Time/Temporary Employees = 20.8%

  6. Pooled Fringe Rates History

  7. Clemson University Pooled Fringe Benefit Rates History

  8. Pressures Increasing Employer’s Benefit Costs • Clemson’s health and retirement plans are managed by the state • South Carolina government has passed legislation which increased employer health and/or retirement costs • Clemson’s worker’s compensation costs are based on South Carolina’s actual experiences and claims • Any increases in employer fringe costs are included in the next proposed pooled fringe rate • Unplanned increases may create short falls which will be recovered in future rates (retirement and worker’s compensation changes in FY07 impacted the FY09 rates)

  9. SC Employer Retirement Rates

  10. Average SC Employer Health Insurance Premiums

  11. SC Worker’s Compensation Rates

  12. Pooled Fringe Benefit Rate Cycle • December 2007 • FY09 fringe benefit rates were submitted to Department of Health and Human Services (DHHS) for review and approval • Rates are based on actual experience during FY07 plus any anticipated changes in expenditures • June 2008 • Received approval from DHHS

  13. Communication Plan • January/February 2008 – communication to University through meetings with: • Administrative Council • Provost Advisory Council • Research Deans • Clemson Business Officers Group • Human Resources Advisory Council • Grant Coordinators

  14. Contact Information • Calculation or Financial Information • Amy Madden maddena@clemson.edu • Beverly Leeper bkl@clemson.edu • Employee or Benefit Information • Erik Flemming eflemm@clemson.edu

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