UMD has proposed Fringe Benefit Rates to our cognizant audit agency, the Department of Health and Human Services, with an implementation date of 7/1/19, FY20. In anticipation of negotiation and approval of these rates they should be used immediately or no later than 4/15/19 in all sponsored project proposal budgets. Starting 7/1/19 existing awards will be charged the fringe benefit rates not actuals. If the sponsor allows for rebudgeting, the PI may pursue that option to account for cost changes in existing projects. In restricted sponsored accounts, deficits created by fringe benefit expenditures exceeding budgets in externally funded sponsored awards will be absorbed by the project where possible, otherwise funded by the department’s/College’s unrestricted funds.
Employee Benefits include: FICA (Federal Insurance Contributions Act), Retirement, Unemployment Compensation, Health Insurance, Workers Compensation, Terminal Leave Payout and Employee Assistance. Tuition Remission is also an employee benefit of UMD but it is not included in the Fringe Benefit Rate and for the purposes of sponsored program budgets should be budgeted separately. For more information on UMD’s Fringe Benefit Rates and any FAQ’s visit the Office of the Provost Fringe Benefit Rates page
Also for information regarding graduate student stipends at the University of Maryland visit the graduate stipends page.