FRINGE BENEFIT RATES
What are fringe benefit rates?
The current Phronetik estimated fringe benefit rates used for proposal submissions are listed below:
Fringe benefit costs cover the Phronetik Office for Research cost for FICA, worker's compensation, unemployment benefits, and contributions to retirement and health insurance. Actual costs per person vary depending upon type of insurance coverage selected, type of retirement plan, and salary; figures are approximate, based on pooled averages. These averages are based on actual costs in the previous year.
Fringe Benefit Costs include the following:
Insurance Premium Estimates
Retirement Plan Contribution
Benefit Replacement Pay
These fringe benefit average rates should be used in preparing grant and contract budgets. Fringe Benefits are calculated on salaries and wages. Actual charges to a sponsor when a payment is made will be dependent on costs associated with the individual at the time of payment and are based on actual costs against the payroll account(s).