FY24 Fringe Benefit Rate Breakdown - Drexel
The following table depicts the breakdown of the fringe benefit rate components for the FY2024 rate submission:
Type of Benefit |
Full-time |
Part-time |
| Health and Welfare Insurance | 9.2% | 1.1% |
| Retirement | 9.5% | 1.1% |
| Pension | 0.0% | 0.0% |
| FICA | 7.9% | 5.4% |
| Life Insurance & Disability | 1.8% | 0.0% |
| Workers' Compensation | 0.6% | 0.1% |
| Unemployment Compensation | 0.3% | 0.2% |
| Other** | 5.7% | 0.6% |
| Total | 35.0% | 8.4% |
**Other is comprised of: Union, employee tuition benefits, employee assistance program, deferred compensation, sabbatical, and vacation payout and severance.