FY14 fringe benefit rates finalized

September 23, 2013

The FY14 fringe benefit rates have been approved by DHHS as shown in the table below. Adjusting the PeopleSoft Finance System balances will be done in 3 steps for the September close:

(1)    Encumbrances booked for the rate increase will be removed.

(2)    All Fringe Benefit allocations booked in FY14 will be reversed.

(3)    Allocations will be updated with the new rates for September close and run year-to-date to reflect the final rates. 

While there is no action required on your part, if you have questions or concerns about this process, please contact Diane.Przygocki@colorado.edu.  Feel free to distribute this information to others in your unit as appropriate.

 Employee   Type FY14 Rate
 Regular   Faculty 28.0%
 Prof Exempt & Research   Faculty FT/Classified permanent 32.2%
 Prof Exempt & Research   Faculty PT/Classified temporary 12.3%
 Student Faculty 8.3%
 Hourly 1.2%