Fringe Benefit Rates

Employer Share

Table of fringe benefit rates with column headers and headings to divide into groups of benefits.
Benefit Name	FY 23	FY 24*	Notes
VRS	16.19%	16.19%	Breakdown = 14.46% Retirement + 1.12% Retiree Med + 0.61% Long Term Disability
ORP	11.52%	11.52%	Breakdown = 10.40% Retirement + 1.12% Retiree Med
Faculty/Professional Average	12.79%	12.79%	Break down = 11.67% Retirement + 1.12% Retiree Med
FICA*	7.65%	7.65%	7.65% up to $160,200 1.45% over $160,200
Group Life Insurance	1.34%	1.34%
Total Rates by Employee Type
Total Rate for Classified/Operational	25.18%	25.18%
Total Rate for Faculty/Professional	21.78%	21.78%
Total Rate for Campus Police	35.32%	35.32%	Breakdown = 24.6% Retirement + 1.12% Retiree Med + 0.61% Long Term Disability + 7.65% FICA + 1.34% Group Life Insurance
**These are rates used in E&G budgets and actual charges vary by employee type and election.
Health Insurance
Employee only	$8,508.00	$8,856.00
Employee plus one	$15,216.00	$15,840.00
Family	$22,308.00	$23,220.00
Agency Average	$16,269.00	$16,936.00

*As of August 2023, FY24 rates may be subject to change pending state budget action.