Calculating Fringe Benefits Rates

RFCUNY maintains its own fringe benefits program for employees (comparable to those of other academic and non-profit institutions). The cost of providing benefits to employees is included in grants as a direct charge.

The actual cost of a benefit package varies for each employee depending on whether an employee waives all or part of the benefits available to them. If an employee has dependents, the actual cost of the benefits package cannot be determined until after the employee begins work.

To simplify both pre-award budget preparation and post-award accounting procedures, RFCUNY developed a system of Multiple Fringe Benefits Pools. Each grant is charged a flat percentage of each employee's gross annual wages, based on their classification. The percentages represent the best estimate of the actual costs of providing benefits to each employee.

KEY CONTACTS

Varsha Joshi
Finance
212-417-8578