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Fiscal Year 2022 Approved Fringe Benefit Rates for the Academy of Natural Science

April 23, 2021

On March 10, 2021, the fiscal year 2022 approved fringe benefit rates for sponsored projects for Drexel University were announced.  The fiscal year 2022 rates for Drexel University sponsored agreements have not changed from the previous announcement.  However, at the time of the original announcement, the fringe benefit rates for the Academy of Natural Sciences were not yet available.  The fiscal year 2022 rates for the Academy are now available and listed in the table below; they will be effective beginning July 1, 2021.  The Academy will continue to use the non-sponsored fringe benefit rates for sponsored research. Coeus and Banner have been updated to reflect these updated rates for fiscal year 2022.

 

Employee Pool Drexel ANS
Full-time Employees 24.4% 32.0%
Part-time Employees 19.9% 11.5%
DUCOM Highly Compensated Faculty N/A N/A

 

The full-time employee rate captures all full-time, benefit-eligible faculty and professional staff.  Post-doctoral students hired as full-time professional staff are also included in the full-time employee rate.  This group is considered one rate pool because they are all eligible for the same benefit offerings.

The part-time employee rate includes both part-time benefit eligible and non-benefit eligible employees (e.g. temporary employees, co-ops).

The DUCOM highly compensated faculty rate, previously referred to in our agreement with Department of Health and Human Services as Clinical Faculty Rate, was specific to full-time, benefit-eligible, College of Medicine faculty in the “F5” employee class. Since we no longer have a physician practice plan, we have eliminated this fringe benefit rate category effective July 1, 2021.

Please note that students are not subject to FICA tax per IRS regulations and as such, do not warrant a separate fringe rate.

If you have any questions regarding the new rates they can be directed to Michael Lacatena at 215.895.6361 and Gabrielle Berrios at 215.895.1730. Current and prior year rates and rate agreements can be found on the fringe benefit page of the Research Accounting website.