[pps-news] Benefit Rates Table - Revised 7/24/2008

[Gabe Nwandu]

The benefits rates table was revised today (7/24/08) to include rate
changes to the Graduate Student Remission programs (see item #7 below).

 

July 24, 2008

 

TO:     All Departments

FR:     Payroll Office

RE:     Benefit Rates Table (R 07/08) 

________________________________________________________

 

The following benefit rates have changed effective with July 2008
earnings. Old rates are in parenthesis.
Percentage based benefits are calculated based on the monthly gross
payroll.

 

1. Workers Compensation Insurance 

    All Funds - 1.15% (1.51%) - decrease of 23.84 percent

 

2. Unemployment Insurance 

    Federal Funds - 0.18% (0.30%) - decrease of 40 percent

    Other Funds - 0.18% (0.24%) - decrease of 25 percent

 

3. Other Post Employment Benefits (OPEB) - formerly Annuitant Health
Insurance 

    All Funds - 3.09% (2.86%) - increase of 8 percent

 

4. Benefits Administration Assessment 

    All Funds - 0.16% (0.18%) - decrease of 11.11 percent

 

5. Staff Recognition & Development Award Program (SRDP) for
non-represented employees

    All Funds - 0.89% (0.89%) - same 

 

6. The following are assessed outside of the Payroll Expenditure
Distribution process and charged to your general ledger:

 

a. General Liability (Location 5) - 0.7782% (0.2194%) - increase of
254.7 percent

b. General Liability (Location N) - 0.1200% (0.1200%) - no change

c. Employment Practices (Location 5) - 0.2080% (0.1964%) - increase of
5.9 percent

d. Employment Practices (Location N) - 0.0800% (0.0800%) - no change

 

7. Graduate Student Remission Programs

a. Graduate Student Health Insurance Program (GSHIP) - $593.00 per QTR
($592.00) - increase of 0.17 percent
b. Graduate Student Fee Remission - Residents - $2662.00 per QTR
($2480.00) - increase of 7.3 percent
c. Graduate Student Fee Remission - Non-Residents - $2766.00 per QTR
($2578.00) - increase of 7.3 percent
d. Graduate Student Fee Remission - AGSM - $2356.00 per QTR ($2194.00) -
increase of 7.38 percent
e. Graduate Student Tuition Remission - $4898.00 per QTR ($4898.00) - no
change



For a complete list of all the benefit rates, please logon to our
website: http://accounting.ucr.edu/ben2008.htm
<http://accounting.ucr.edu/ben2008.htm> 

 

Thank You.


*******************************

Gabe Nwandu - MBA, CPA.

Director - Payroll, Travel and Disbursements

University of California, Accounting Department

Riverside, CA. 92521

Tel: 951.827.1956;  Fax: 951.827.3314

E-mail: gabe at ucr.edu <mailto:gabe at ucr.edu> ; Internet:
http://accounting.ucr.edu <http://accounting.ucr.edu> .

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