Benefits Model and Allocation Rules
Links to the general benefits model and rates to be used for estimating employee benefits are listed below.
FY 2021 – DRAFT
The FY 2021 projection utilizes a salary and benefit data set from April 30, 2020. Benefit rate changes include:
- Effective July 1st: the employer contribution rate for PEBB medical benefits is increasing from $939 to $976/month
- Effective July 1st: the unemployment contribution rate will increase from .0019 to 0.0027. This is in response to COVID-19 the potential for increased unemployment claims. This rate will be reviewed further in fall 2020 for possible adjustments in January 2021.
- The Qualified Tuition Reduction (QTR) amount for graduate students has increased to $5,715/semester. This reflects the 2.5% tuition increase approved by the Board of Regents.
Future updates to the FY21 benefit model will reflect changes to the graduate health insurance rate and changes to federal rates that may take place in January 2021.
FY 2020 – Final
The FY 2020 projection utilizes a salary and benefit data set from April 30, 2019. The final FY 2020 model reflects changes in benefit rates effective January 1, 2020. These changes include:
- Effective January 1st: the medical aid contribution for employees increased to $0.2382 per hour, or $38.11 per month (160 hours)
- Effective January 1st: the medical aid contribution rate for student volunteers increased to $0.0541 per hour
- Effective January 1st: the unemployment contribution rate increased to 0.19% of gross salary
- Effective January 1st: the OASI maximum taxable salary base is $137,700
For assistance in using this model for budgeting, please contact Chris Jones at 5-9682 or firstname.lastname@example.org
For assistance in understanding the fringe benefit program, please contact Human Resource Services – Benefit Services at 5-4521.