55 Standard Benefit Rates SBR for 2005 2006
PDAD&C #55, 2004-05
|TO:||Principals, Deans, Academic Directors and Chairs|
John Challis, Vice-President, Research and Associate Provost Sheila Brown, Chief Financial Officer
|DATE:||March 4, 2005|
|CC:||Documental Business Officers|
|RE:||Standard Benefit Rates (SBR) for 2005-2006|
Employer benefit costs are currently charged to divisions at a standard benefit rate of 20.75% of compensation for appointed staff and 9.75% of compensation for non-appointed staff.
Effective May 01, 2005, the standard benefit rate will increase to 22.25% of compensation for appointed staff and 10.0% for non-appointed staff.
Divisional operating budgets for staff benefits will be adjusted and the increase to those operating budgets will be funded from the centre as part of 2005-2006 budget process. For more information please contact your respective budget officer.
The increase in the standard benefit rates for 2005-2006 reflects the rising costs of benefits including the cost of providing pensions.
For research grant applications that will need to be submitted this fall, we would recommend that you use the rates effective May 1, 2005, for 2006-07.