OSRP Fringe Benefits
25.0% Faculty academic year salary, all non-student staff
7.65% Faculty summer salary
0.00% Student stipends
Average Fringe Benefit Rate
IIT charges actual fringe benefits to all accounts. The current fringe benefit rate estimate for IIT, based on a recent historical average of all employees, is 25%. This average rate is used for budgetary purposes on all accounts. This is comprised of the following elements:
7.54% Health Insurance
7.23% Social Security/Medicare Tax
6.83% Retirement plans
2.05% Tuition Remission Porgram
0.50% Life Insurance
0.30% Workers' Compensation
0.55% Other
Per Mary Henry, Associate Director, Human Resources, June 2003
Office of Sponsored Research
Main Building, Room 301
312.567.3035
osrp@iit.edu