VIEWS: 4 PAGES: 5 POSTED ON: 10/28/2012
Instructions for Using Fringe Benefits Calculator (Revised 7/5/2007) SAM Website: http://sam.research.sc.edu 1. General Instructions. The next tab contains a simple fringe benefits calculator that uses rates published at the SPAR website (click on link above). A wage calculator is also included just below the fringe benefits calculator. You can adjust the zoom to make text/numbers larger or smaller, as desired. You can save this Excel spreadsheet with a different filename. Please delete your entries before closing the online calculator file. It is important that you read these instructions and any cell comments carefully. 2. Current Fringe Rates. If you are using the fringe benefits calculator directly from the SPAR website, the fringe rate values should already up to date. However, you may want to verify that they indeed current. If you are using this fringe benefits calculator as a standalone application, you must first verify that the values for fringe components A, B, C, D, and E (State Plan & Dental only) match the current rates at the SPAR website (http://www.spar.research.sc.edu/fringebenefit.html). If the rates are not current, you must update the values for A-E, as needed. 3. Institutional Base Salary. (a) Faculty, Staff, Postdoctoral Associates, and TERI employees. Enter only the Institutional Base Salary and % Effort on the row corresponding to both the Employee Type and Insurance Coverage Type. The Project Salary, Fringe, and Total amounts are automatically calculated. If the planned number of months of employment differs from the value specified under # Months (i.e., 12 or 9), change the number of months, as appropriate. The summer salary for faculty with 9-month appointments is automatically calculated based on the institutional base salary entered above. IMPORTANT NOTE: The Institutional Base Salary included in grant budgets for faculty does NOT include salary supplements or bonuses. (b) Faculty Summer Salary Only. If a faculty is working ONLY during the summer on a grant, enter the total amount of the summer salary as the Institutional Base Salary. (c) Graduate Assistants. Enter the total annual salary for ALL applicable semesters (i.e., Maymester, Summer I & II). IMPORTANT NOTE: A Full-time Graduate Assistant working 20 hours/week is considered 100% effort. Similarly, 10 hours/week is considered 50% effort. (d) Temporary Help, Unclassified, and Students (during summer and not attending classes). Enter the TOTAL salary that the employee will receive for however many months of employment. The percent effort should then be set to 100% unless the employee is supported on multiple grants/accounts. 4. Faculty Academic Appointments. If the academic appointment (Type Appt) for faculty is not 12 or 9 months, change the # Months for the academic/summer periods, as approprate (e.g., 10/2, 10.5/1.5 or 11/1 months). 5. Faculty Summer Salary. Summer salary for faculty with academic appointment that are less than 12 months can be calculated by either of two methods: (a) As 1/3 of the 9-month salary (as above), or (b) based on the faculty member's daily rate times 66 or 67 days (depending on the number of days in the summer sessions). Method (b) will result in a slightly higher salary amount; you will have to calculate this on your own. IMPORTANT NOTE: NSF allows only up to two months of summer salary. 6. Additional instructions and comments. A message with additional instructions may pop-up for some data entry cells when selected. Press the [Esc] key to clear the message if it is in the way. If there is a small red triangle at the upper right-hand corner of a cell, hold the cursor over the triangle to reveal pertinent coments. 7. Wage Calculator. Use the Wage Calculator (below the fringe benefits calculator) to calculate the wage/salary for hourly employees. Enter calculated salary into calculator to determine Fringe amount. For Students & Temps, if Inst Base Salary = Project Salary, the % Effort should be shown as 100% regardless of actual hrs/wk worked. Full-time GA = 20 hrs/wk. 8. Questions or Comments? If you have any questions or comments about the fringe benefits calculator, please contact the developer, LaVerne Shuler, at 803-978-7598 or email@example.com. Fringe Benefits Calculator (Revised 5/16/2003) I. Fringe Benefit Rates (07/01/2012 -6/30/2012) A. State Retirement 15.15% Fringe Benefits Calculator, revised 7/3/2012 B. FICA (Social Security) 7.65% C. Unemployment Compensation 0.25% INSTRUCTIONS: Please see the Instructions worksheet/tab f D. Worker's Compensation 0.45% regarding the proper use of this calculator. TOTAL 23.50% A wage calculator is also included below the fringe benefits calc E. Health Insurance 12-month appointment 9-month appt. Coverage Type State Plan Dental Total Month Total Annual Total Month If you have any questions, please contact Debbie Kassianos at Employee Only $295.48 $11.72 $307.20 $3,686 $409.60 firstname.lastname@example.org. Employee/Spouse $581.80 $11.72 $593.52 $7,122 $791.36 Employee/Child $451.62 $11.72 $463.34 $5,560 $617.79 Full Family $727.56 $11.72 $739.28 $8,871 $985.71 II. Calculation of Fringe Benefits Fringe Institutional Project Type Appt. Health Insurance (E) Fringe Employee Type Coverage Type Rate Base Salary % Effort Salary (# Months) Total Month Amt. Employee Only 23.50% $ - 12.0 $307.20 $ - Faculty, Staff, and Postdoc Assoc. Employee/Spouse 23.50% $ - 12.0 $593.52 $ - (12-month Appt.): (A+B+C+D) x Salary + (E x Employee/Child 23.50% $ - 12.0 $463.34 $ - %) Full Family 23.50% $ - 12.0 $739.28 $ - Employee Only (#1) 23.50% $ - 9.0 $409.60 $ - Faculty Employee/Spouse (#2) 23.50% $ - 9.0 $791.36 $ - (9-month Appt.): (A+B+C+D) x Salary + (E x %) Employee/Child (#3) 23.50% $ - 9.0 $617.79 $ - Full Family (#4) 23.50% $ - 9.0 $985.71 $ - Faculty #1 23.50% 0 0% $ - 3.0 $ - Faculty #2 23.50% 0 0% $ - 3.0 $ - Faculty Summer Salary only: Faculty #3 23.50% 0 0% $ - 3.0 $ - (A+B+C+D) x Salary Faculty #4 23.50% 0 0% $ - 3.0 $ - SUMMER ONLY 23.50% $ - $ - Employee #1 23.50% $ - 12.0 $307.20 $ - TERI Employees Employee #2 23.50% $ - 12.0 $593.52 $ - (A+B+C+D) x Salary + (E x %) Employee #3 23.50% $ - 12.0 $463.34 $ - Employee #4 23.50% $ - 12.0 $739.28 $ - Ph.D. 0.45% $ - $ - Students - Graduate and Undergraduate M.S. 0.45% $ - $ - (when enrolled and regularly attending class) : Undergraduate 0.45% $ - $ - (D) x Salary Workstudy 0.45% $ - $ - Employee #1 8.35% $ - $ - Temporary Help, Unclassified, Students Employee #2 8.35% $ - $ - during Summer (when NOT enrolled & Employee #3 8.35% $ - $ - attending classes) : (B+C+D) x Salary Employee #4 8.35% $ - $ - TOTAL $ - $ - Wage Calculator for Hourly Employees Employee/Position hrly rate hrs/wk # wks Wage/Salary Quantity TOTAL $ - $ - d2635a64-56d1-4681-98ad-31deabd3c96a.xls; Fringe Developed by LaVerne Shuler, USC/EXSC. Fringe Benefits Calculator (Revised 5/16/2003) $ - $ - $ - $ - $ - $ - $ - $ - NOTES: TOTAL $ - $ - (1) After calculating wage/salary, plug the calculated amount into fringe calculator under Temporary Help at 100% effort to calculate the fringe amount. (2) Please note that state retirement benefits will apply to temporary staff who either already have funds deposited in the S.C. State Retirement or opt to contribute. d2635a64-56d1-4681-98ad-31deabd3c96a.xls; Fringe Developed by LaVerne Shuler, USC/EXSC. Fringe Benefits Calculator (Revised 5/16/2003) revised 7/3/2012 Instructions worksheet/tab for important information A wage calculator is also included below the fringe benefits calculator. If you have any questions, please contact Debbie Kassianos at 803-777-6421 or TOTAL (Project Salary+Fringe) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - d2635a64-56d1-4681-98ad-31deabd3c96a.xls; Fringe Developed by LaVerne Shuler, USC/EXSC. Percent of Time & Effort to Person Months (PM) Interactive Conversion Table 3 month 9 month 10 month 10.5 month 11 month 12 month Summer Term Appointment Appointment Academic Year Appointment Calendar Year % effort PM % effort PM % effort PM % effort PM % effort PM % effort PM 10 0.30 10 0.90 10 1.00 10 1.05 10 1.10 10 1.20 Instructions: To use the chart simply insert the percent effort that you want to convert into the -0- of the 3 mo. Summer Term % effort line and hit enter. The person month for 3, 6, 8, 9, 10, and 12 will be displayed simultaneously. There are three basic salary (wage) bases: Calendar Year, Academic Year and Summer Term. Here is a month/week/days breakout for each: Academic Year (AY) 9 months 39 weeks 273 days Summer Term (SM) 3 months 13 weeks 90 days Calendar Year (CY) 12 months 52 weeks 365 days To fill out the budget forms for the SF 424 R&R grantees will need to convert percent-of-effort to person months. Below are a two examples of how person months are applied: Example 1: A PI on an AY appointment at a salary of $63,000 will have a monthly salary of $7,000 (one-ninth of the AY). 25% of AY effort would equate to 2.25 person months (9x.25=2.25). The Budget figure for that effort would be $15,750 (7,000 multiplied by 2.25 AY months). Example 2: A PI on a CY appointment at a salary of $72,000 will have a monthly salary of $6,000 (one-twelfth of total CY salary). 25% of CY effort would equate to 3 CY months (12x.25=3). The budget figure for that effort would be$18,000 (6,000 multiplied by 3 CY months). Created by George Gardner Latest Update 10/28/2012
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