FY17-18 Fringe Benefit Rates


Sponsored and Non-Sponsored Rates Table

Retirement 11.11%  
FICA 6.75% 7.86%
Group Life 1.30%  
Health Insurance 15.81%  
Health Insurance Credit 1.11%  
Unemployment 0.02% 0.02%
Workers Compensation 0.32% 0.32%
Long-Term Disability 0.16%  
VRS Long-Term Disability 0.28%  
Faculty-Staff Tuition Waivers 0.44%  
 Short-Term Disability 0.03%  
 Leave balances upon Seperation 0.48%  
Benefits Consultant 0.00%  
Cash Match Plan 0.39%  
Equalization 0.00%  
Total 38.20% 8.20%



Fringe Benefit Rate by Banner Employee Class Code Table

The fringe benefit rate charged is dependent upon the Banner employee class code

E Class CodeE Class Short DescriptionE Class Long DescriptionFringe Benefit RateBanner Account
A1 AFac Admin Faculty mo FTE 38.20 510180
A2 AFac 9/10 Admin Faculty 9/10 mo FTE 38.20 510180
A3 AFac P Admin Faculty mo PT 50>74 E 8.20 510181
A4 AFac 910P Admin Faculty 9/10 PT 50<74 E 8.20 510181
A5 AFac Q Admin Faculty >75 E 38.20 510180
A6 AFac 910Q Admin Faculty 9/10 MO>75E 38.20 510180
AF Affliat Affliates 0.00  
AJ Adjunct Adjunct Faculty E 8.20 511181
C1 Class NE Classified FT NE 38.20 520182
C2 Classifi Classified FT E 38.20 520182
C3 ClassQNE Classified > than 75 NE 38.20 520182
C4 ClassQE Classified > than 75 E 38.20 520182
C5 ClassPNE Classified 50-74 NE 8.20 520183
C6 Class PE Classified 50 < than 74 E 8.20 520183
EX SalOthE Exempt Salaried-Other 8.20 539183
F1 Fac Teaching Research Fac FT E 38.20 511180
F2 Fac 9/10 Teaching Research Fac 9/10 FT E 38.20 511180
F3 Fac P Teaching ReschFac 50<74 PT E 8.20 511181
F4 Fac 9/10P TR Faculty 9/10 PT E 50<74 8.20 511181
F5 Fac Q Teaching Research Fac >75 E 38.20 511180
F6 Fac 910Q Teaching Research 9/10 MO>75 E 38.20 511180
G9 GrAsst9 Graduate Assistant 9 MO E 0.00  
GA GrAsst Graduate Assistant E 0.00  
H1 Hourly Hourly NE 8.20 539183
LE Police Law Enforcement Officers NE 38.20 522182
M1 MFac Clin MD Faculty FT E 38.20 513180
M2 Clin Fac Clin MD Faculty 9/10 FT E 38.20 513180
M3 CFac P Clin MD Faculty 50-74 PT E 8.20 513181
M4 CFac 910P Clin MD Fac 9/10 50-74 PT E 8.20 513181
M5 CFac Clin MD Faculty >75 QFT E 38.20 513180
M6 CFac 910Q Clin MD Fac 9/10 MO >75 E 38.20 513180
O1 OFac Clin Other Faculty mo FT E 38.20 514180
O2 CFac 9 Clin Other Faculty 9/10 mo FT E 38.20 514180
O3 OFac P Clin Other Faculty PT E50-74 8.20 514181
O4 OFac 910P Clin Other Faculty 9/10 PT 50>74 E 8.20 514181
O5 OFac Clin Other Faculty >75 QFT E 38.20 514180
O6 OFac 910Q Clin Other Faculty 9/10 MO >75 E 38.20 514180
P1 PFac Prof Faculty mo FT E 38.20 512180
P2 PFac 9 Prof Faculty 9/10 mo FT E 38.20 512180
P3 PFac P Prof Faculty mo 50-74 PT E 8.20 512181
P4 PFac 910P Prof Faculty 9/10 PT 50<74 E 8.20 512181
P5 PFac Prof Faculty mo 75 E 38.20 512180
P6 PFac 910Q Prof Faculty 9/10 mo >75 E 38.20 512180
PD PostDoc Post Doc E 8.20 539183
PS Pres President 38.20 500180
QH Q-Hourly VCUQ Hourly Local Hire 0.00  
QS Q-Salary VCUQ Salaried Local Hire 0.00  
SW Students Student Workers NE 0.00  
VQ VCU Q Qatar Faculty 26.56 511180
WS Study Work Study NE 0.00  

Each year's rates are effective with salaries and wages paid on or after July 1 and should be used when preparing budgets to which fringe benefits are charged.

Wages paid from the following Banner Expenditure accounts are exempt from having fringe cost charged to them:

Banner Expenditure AccountAccount Description
533110 Wages and Taxable Fellowships
534110 Wages--Work Study Students
535110 Housestaff

Fringe benefits on salaries paid by the Medical College of Virginia Hospitals are as billed by the Hospital (Housestaff and CRC)



Retirement contributions for employees in the VRS system and for those in other retirement plans.


Composed of social security insurance (OASI) and Medicare. Certain benefits such as life insurance premiums over $50,000 and pretax items, such as flex benefits and annuities, are added to or deducted from gross salaries to compute Medicare gross.

Group Insurance: 

Basic life insurance provides life insurance and accidental death and dismemberment insurance. The specific benefits are: group life insurance without a medical examination, natural death benefits, double indemnity for accidental death, dismemberment payments for accidental loss of one or more limbs or eyesight, accelerated death benefit for a terminal condition.

Health Insurance: 

This benefit is provided for employees with health plans in the HRS system that were not waived, exempt, ineligible or second employee of a two-employee family.

Health Insurance Credit: 

Used to offset retirement cost of health insurance for current and future Virginia Retirement System retirees.

Unemployment Compensation: 

Represents benefits paid to an employee as a result of his/her separation from the University when determined by the Virginia Employment Commission to be eligible to receive this compensation.

Workers Compensation:

Contribution to the Commonwealth of Virginia's self insurance program for employees who incur an injury/illness arising out of and in the course of official work-related duties.

Long-Term Disability Insurance: 

Provides those employees who are enrolled in other retirement plans, disability income replacement if they are unable to work for a long period of time due to an illness or injury.

VRS Long-Term Disability: 

For those employees enrolled in the Virginia Sickness and Disability Program. It provides income replacement if unable to work for a long period of time due to an illness or injury. It usually begins at the conclusion of the 180 calendar days of short term disability benefits.

Tuition Waivers: 

Tuition cost associated with the providing of training and professional development opportunities for eligible employees through courses for academic credit at VCU.

Fee Waivers: 

Student activity fees, health fees, government fees, and the University fees related to any tuition waived for eligible employees.

Background Checks: 

Cost to perform background checks for any criminal history on new employees.

Benefits Consultant: 

Fees paid to consultants to assist in the compliance of the various benefit plans with applicable laws and regulations.

Cash Match Plan: 

A plan in which the University provides a 50% match of up to a maximum of $10.00 per pay period to all eligible employees participating in the Tax-Deferred Annuity Program.


The equalization factor compensates for under (over) recoveries in the year ending one year before the year.