University of Colorado Boulder
Total fringe benefit expenses
Chart 1 -- Total fringe benefit expenses ($ in millions)
Total salary expenses
Fringe benefit expense categories
Below, Table 1 -- Actual $ changes in Fringe Benefit expenses from FY11 to FY12 identifies significant dollar changes for benefit categories by employment class. Some benefit categories are tied directly to salary, which results in commensurate increases when salary increases.
Table 1 -- Actual $ changes (in millions) from FY11 to FY12
Health, Dental, and Life Insurance (HLD) - The overall HLD category increased from FY11 (see HLD Charts at http://www.colorado.edu/pba/budget/misctopics/HLD.html). Health and Dental Insurance are both elective driven; basic Life Insurance is automatic. For Health Insurance, the employer contribution amount grew slightly (see table 2 below), as did the health premium total, which increased between 1.22% and 9.02% (depending on plan and level of coverage). Dental Insurance premiums remained the same for Faculty and Professional employees, and increased slightly for Classified employees; overall dental insurance costs increased 3.3%. Life Insurance premiums remained the same for all employees, and overall life insurance expenditures increased slightly.
Retirement (FICA, ORP & PERA) – All retirement categories are salary driven, and FICA, ORP and PERA increased due to higher salary expense. The 2.5% shift in contribution from employer to employee in effect since July 2010 remained in effect for PERA participants in FY12. FICA costs are salary driven up to a dollar limit of $110,100 per employee for CY12; this amount increased from $106,800 the previous calendar year. Costs for Other Retirement Plans (ORP), covering faculty and professional employees, went up 5.1%. PERA expenses increased 10.8% from the FY11 amount.
Annuitants, Term Leave, Medicare - This category increased 4.3%, spread among the three components. Annuitants includes health, life, and dental insurance for retired faculty and staff. It is elective driven and saw an increase of 3.5% or $217,695. Term Leave includes expenses associated with leave payouts for employees who separate from the University. The amounts can vary from year to year based on retirements and other separations. Term Leave increased 6.7% from the previous fiscal year by an amount of $171,554. Medicare is salary driven with no limits and was a 4.1% increase or $247,224.
Disability Insurance - Overall disability insurance costs increased 1.3%, representing a cost increase of $13,900.
Unemployment Compensation Claims - This cost is driven by claims and decreased $90,775 (-13.3%) from the previous fiscal year.
Workers' Compensation Insurance - This cost is the annual total for the premium paid by Risk Management for all Boulder campus employees This premium increased 21.1% from the previous fiscal year.
Graduate Student Health Insurance - This is health insurance for graduate students on academic appointment and the cost is elective driven; 70% of the premium cost is covered by the campus. This expense item accounts for nearly all of the Student Faculty fringe benefit costs. In FY12, the premium increased by $110/semester from $1,105/semester to $1,215/semester. Overall, graduate student faculty insurance increased 5.9%, or $171,002, from the previous year.Employer contribution comparison for health insurance
Table 2 - % Increase from previous fiscal years for health insurance and specifically identifies fiscal year comparison amounts by employee category and elective coverage.Table 2 -- % Increase in employer contribution for health insurance
from previous fiscal year (pfy)
Last revision 11/08/12
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