Staff Benefit amounts that are charged to the departments for "benefits eligible employees" are calculated by multiplying the sum of (gross salary + longevity + hazardous duty pay) times the percentages for each of Staff Benefit items 1, 2, 3, 4, and 5 listed below (17.60%), then add premium sharing to that total (max $687.44 per month).
For the Fiscal Year 2007/2008 and the Calendar Year 2008
|
Item |
Staff Benefits |
Amount |
Limitations |
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|
1 |
OASI (Old Age Survivors Insurance – a.k.a. FICA tax) |
6.2% (.0620) Social Security Tax1.45% (.0145) Medicare Tax 7.65% (.0765) Total OASI tax |
Wage Base $102,000 to 12/31/08 No limit on Medicare tax.
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2 |
RETIREMENT TRS or ORP |
Teacher Retirement Matching Optional Retirement Matching |
6.58% = (.0658)8.5% = (.085) Effective 9/1/04, the ORP employer matching rate will be 8.5% for ALL ORP participants |
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|
3 |
UCI Unemployment Compensation Ins. |
.243% = (.00243) |
First $9,000 in calendar year. (Note: this percent is subject to change without notice if it is determined to be insufficient to cover unemployment claims) |
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|
4 |
WCI Workers Compensation Ins. |
.114% = (.00114) |
No limit. |
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|
5 |
VSL Vacation/Sick Leave |
1.1% = (.011) |
No limit. |
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|
6 |
Premium Sharing rates for 2007-2008 Insurance Note: part-time employees' premium sharing is 50% of the amounts shown here. |
Insurance selected | Employee Only | Employee & Spouse | Employee & Child | Employee & Family | Premium Sharing Benefits are Paid Monthly |
| UT Select | $369.12 | $562.54 | $492.87 | $687.44 | |||
| HMO Blue | n/a | n/a | n/a | n/a | |||
| USS payment are made monthly | |||||||
| 7 | University
Salary Supplement
Available only to employees who had been eligible for Supplemental Premium Sharing prior to August 3, 2003 |
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| University Salary Supplement | None | $75.00 | $75.00 | $125.00 | |||
Benefits calculation for Temporary and Occasional Employees (not eligible for full-time benefits) = gross salary x 8.157%, (Items 1,3,4, above) Note: Effective for wages earned after 6/30/00, work-study and other qualified students are no longer subject to OASI. Work-study students are not subject to UCI.
| OASI | 6.2% + 1.45% = 7.65% | 7.65% | .076500 |
| UCI | .268% first $9,000 | .268% | .00268 |
| WCI | .239% | .239% | .00239 |
| TOTAL | 8.157% | .08157 |
For more information about your fringe benefits, visit the following web sites:
 | The Social Security Administration |
| Employee Group Insurance or My Insurance Benefits |
| Texas Workforce Commission or Unemployment Benefits |
| Internal Revenue Service |
| Teachers Retirement System |