| Category |
Calculation Guidance |
| Grad Asst. 19% rate Includes: |
8.45% which already includes:
- 6.20% for OASDI/Old Age, Survivors and Disability Insurance (aka Social Security)
- 1.45 for Medicare and Medicaid
- 0.8% for workers' compensation, unemployment compensation, severance/terminal leave pay, short term disability and associated benefits and administrative costs charge by the North Carolina Flex Plan
10.5% to accomodate health insurance calculated as:
- $1,683/year (140.42/month) for health insurance (check current rates) prorated for the actual FTE effort dedicated to the project. Using an average $16,000/year Assistantship Salary, the ratio is 10.5%.
10.5% plus 8.45% = 18.95%; rounded up equals 19% |
| Grad Asst. 14% rate Includes (OASI/FICA Exempt): |
0.8% which already includes:
- 0.8% for workers' compensation, unemployment compensation, severance/terminal leave pay, short term disability and associated benefits and administrative costs charge by the North Carolina Flex Plan
10.5% to accomodate health insurance calculated as:
- $1,683/year (140.42/month) for health insurance (check current rates) prorated for the actual FTE effort dedicated to the project. Using an average $16,000/year Assistantship Salary, the ratio is 10.5%.
2.5% contingency for moving in and out of FICA exemption:
- Trend analysis suggests that students coming into an assistantship scenario at this juncture have a small lag in adjusting to FICA exemption. This small ratio accomodates the minor adjustment that may be necessary.
10.5% plus 0.8% plus 2.5= 13.8%; rounded to 14% |
| Student Hourly Workers (Timecard - OASI/FICA Exempt) |
0.8% which already includes:
- 0.8% for workers' compensation, unemployment compensation, severance/terminal leave pay, short term disability and associated benefits and administrative costs charge by the North Carolina Flex Plan
|
| Student Hourly Workers (Timecard) |
8.45% which already includes:
- 6.20% for OASDI/Old Age, Survivors and Disability Insurance (aka Social Security)
- 1.45 for Medicare and Medicaid
- 0.8% for workers' compensation, unemployment compensation, severance/terminal leave pay, short term disability and associated benefits and administrative costs charge by the North Carolina Flex Plan
|
For Graduate Assistantships, you must also include tuition (and optionally, required fees) in your budget. Tuition should be included in the "other direct cost" section of your budget. Below are links to the appropriate tuition rates. Note, check with your college research office to determine the proper tuition rates, including your college's participation in the Graduate Student Support Plan.
| Resident, Full-Time Graduate Tuition (as other direct costs) |
Current rates are available from the Cashier's Office (6.5% infl./AY) |
| Non-Resident, Full-Time Graduate Tuition (as other direct costs) |
Current rates are available from the Cashier's Office (6.5% infl./AY) |
- Rate Change History: 03/23/2007 Changed from 9.25 to 8.45 (FICA non-exempt students and associated components in graduate students)
