Estimating Fringe Benefits 2019-20

Estimated benefits to be used for budgeting purposes in Fiscal Year 2020.

This information is for budget planning purposes only. For information on benefits, contact the Insurance and Benefits section of Human Resources or the Division of State Group Insurance. Actual rates used in payroll calculation are maintained by Payroll Services; see FSU Policies and Procedures, section OP-D-2, pertaining to Payroll.

Casualty Insurance/Unemployment Compensation

  • Casualty Insurance: Worker's Comp, Federal Civil Rights, & General Liability
  • Unemployment Compensation: temporary income payments to workers who lost their job through no fault of their own

E&G:

The costs for both Casualty Insurance and Unemployment compensation are paid for from a central E&G department.

Auxiliaries:

Casualty Insurance is billed on an annual basis. The cost to Non-E&G funds will be charged in November. The assessment is based on each department's percentage of salary and OPS expenses from two years prior. Unemployment Compensation is billed directly to Auxiliary departments on a quarterly basis, depending upon employees who previously worked for that specific department.

C&G:

An assessment is made on both salaried and OPS C&G appointments to cover these costs. For more information see the Sponsored Research Facts Sheet.

 

Retirement and FICA

New employer contribution rates became effective July 1, 2019.
Employer contribution rates for all plans including those not in use at FSU are available at the Florida Division of Retirement website. Rates subject to the Governor's approval.

Retirement Plan Code Retirement Rate FICA Rate
FRS - Regular Class HA/PA 8.47% 7.65%
FRS - Senior Management HM/PM 25.41% 7.65%
FRS - Special Risk Class HB/PB 25.48% 7.65%
FRS Renewed Membership - Regular Class RA/QA 8.47% 7.65%
FRS Renewed Membership - Senior Management RM/QM 25.41% 7.65%
Renewed Investment Plan - Regular Class CA 8.47% 7.65%
Renewed Investment Plan - Special Risk Class CB 25.48% 7.65%
ORP - SUS Optional Retirement Program OP 8.71% 7.65%
ORP Renewed Membership Enrolled Prior to July 1, 2010 OS 8.71% 7.65%
ORP Renewed Membership Enrolled July 1, 2017 or After OA 8.71% 7.65%
DROP - Deferred Retirement Option Program DP 14.60% 7.65%
TRS - Teachers Retirement Plan E IE 11.90% 0.00%
Retirees Initially Reemployed on or after July 1, 2010 who are not eligible for renewed membership - Regular Class UA 5.22% 7.65%
Retirees Initially Reemployed on or after July 1, 2010 who are not eligible for renewed membership - Senior Management UM 20.75% 7.65%
Retirees Initially Reemployed on or after July 1, 2010 who are not eligible for renewed membership - Special Risk Class UB 12.81% 7.65%
Non-Reportable Wages (FICA Deduction Only) MA 0.00% 7.65%
OPS Non-Student (OPS, Post-Docs, Faculty Adjunct) ZZ 0.00% 7.65%
OPS FSU Exempt Student (Graduate & Student Assts) ZX 0.00% 0.00%
OPS Exempt from OASDI (Phased Retirees) ZM 0.00% 1.45%

 

FICA consists of 6.20% OASDI and 1.45% Hospital Insurance (Medicare). There is no cap for Medicare, but the maximum salary on which OASDI will be charged, as of January 1, 2019, is $132,900. (This is effective through December 31, 2019, and is the amount that will be used in benefits calculation in the Operating Budget.) The OASDI cap changes each year effective January 1 based on the "contribution and benefit base" calculated each year by SSA (usually in October). For more information see the "OASDI Contribution and Benefit Base" page at the Social Security Administration.

 

Health Insurance

Health insurance premiums are flat rates depending on plan. In compliance with the Affordable Care Act of 2013, for employees appointed at less than 0.75 FTE the University only pays the premium times FTE. If an employee is appointed at 0.75 FTE or more, then the University is responsible for budgeting the 100% premium. Effective July 1, 2010, for employees classified as Executive Service and employees participating in the Spouse Program, the employer no longer pays the total premium. The employee's share of the health insurance premium shall be $8.34 per month for individual coverage and $30.00 per month for family coverage ($15.00 per employee in the Spouse Program). Note: the biweekly amount is for 24 pay periods, regardless of months appointed. Shown here are the employer amounts that will be in effect during FY 2019-20.

Regular Class
     Effective 07/01/2019       Effective 01/01/2020   

Cost for

FY 2019-20*

Coverage    Annual       Biweekly       Annual       Biweekly   
Individual 8,213.04    342.21 8,565.60 356.90 8,418.70
Spouse (insured) 9,739.20 405.80 10,135.92 422.33 9,970.62
Spouse (dependent) 9,739.20 405.80 10,135.92 422.33 9,970.62
Family 17,678.16 736.59 18,471.84 769.66 18,141.14
Individual/Family Average (for TBAs) 12,945.60 539.40 13,518.72 563.28 13,279.92

 

 

Executive Service

     Effective 07/01/2019       Effective 01/01/2020   

Cost for

FY 2019-20*

Coverage    Annual       Biweekly       Annual       Biweekly   
Individual 8,712.96    363.04 9,065.52 377.73 8,918.62
Spouse (insured) 9,739.20 405.80 10,135.92 422.33 9,970.62
Spouse (dependent) 9,739.20 405.80 10,135.92 422.33 9,970.62
Family 19,478.40 811.60 20,271.84 844.66 19,941.24
Individual/Family Average (for TBAs) 14,095.68 587.32 14,668.80 611.20 14,430.00

*Annual cost for 2019-20 includes 5 months (10 biweeklies) at the 7/1/2019 rate and 7 months (14 biweeklies) at the 1/1/2020 rate.

 

Life Insurance

Effective January 1, 2011: The State Life Insurance Program will pay the full premium for a $25,000 life insurance policy for each employee. Annual cost for this program is $42.96 per employee. The Department of Management Services shall continue the optional life insurance program based on premiums paid by employees only.