The Research Foundation maintains its own fringe benefits program for employees; the RF’s benefits package is comparable to those of other academic and non-profit institutions. The cost of providing benefits to employees is included in grants as a direct charge.
The actual cost of a benefit package will vary for each employee depending on whether they waive all or part of the benefits available to them, if they have dependents, etc., and usually cannot be determined until after an employee begins to work. In order to simplify both pre-award budget preparation and post-award accounting procedures, the Research Foundation has developed a system of Multiple Fringe Benefits Pools. Each grant is charged a flat percentage of each employee’s gross annual wages, based upon their classification. The percentages represent our best estimate of the actual costs of providing benefits to each employee.
Fringe benefits rates are re-evaluated each fiscal year by the Chief Financial Officer.
|Pool||Definition of Pool Category||Rate|
|Full time and Part time A||Full time Employees scheduled to work 35 or more hours per week and paid on an annual basis. Part time employees scheduled to work between 20 and 34 hours per week, and paid on an hourly basis||38% Currently|
|Part time B & Sabbatical||Part/Time employees scheduled to work no more than 19 hours per week, and paid on an hourly basis. CUNY Faculty who are on Sabbatical Leave.||9.5% Currently|
|Released Time Faculty||CUNY Faculty released to work on a grant or contract||33% Currently|
|Summer Salary||CUNY Faculty who are receiving Summer Salary payments||28.9% Currently|