HR Fringe Benefit & Indirect Cost Rates

When the annual budget plan documents were distributed to you included under the Centrally Processed Changes are the benefits allocations applicable to the salary budgets within your departments.  Based upon an analysis of benefit costs the specific allocations for full-time and part-time employees has changed.  Effective June 4,2014 the following allocation amounts will be assessed:

            Full-time faculty and staff                                  37.9% (formerly 37.6%)

            Part-time faculty and staff                                  13.6% (formerly 13.7%)

            Student wages (includes work study)                  0.62% (formerly 0.65%)

These amounts have already been included in your budget sheets so there is no action necessary on your part.  Please use the above whenever you are requesting new funding for faculty and staff positions.

If you have any questions please feel free to contact Matt Renna (mrenna@pace.edu).

Click to download Indirect Cost Agreement.

Thank you.