89 Standard Benefit Rates SBR for 2006 2007

PDAD&C #89, 2005-06

MEMORANDUM

To: Principals, Deans, Academic Directors and Chairs
From:

Sheila Brown, Chief Financial Officer
John Challis, VP Research and Associate Provost

CC: Divisional Business Officers via AMS listserv
Divisional Financial Officers via DFO listserv
Date: February 23, 2006
Subject: Standard Benefit Rates (SBR) for 2006-2007


 Attachment (19 KB) 

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Employer benefit costs are currently charged to divisions at a standard benefit rate of 22.25% of compensation for appointed staff and 10.00% of compensation for non-appointed staff.

Effective May 1, 2006, the standard benefit rate will increase to 22.50% of compensation for appointed staff and will remain at 10.00% 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 2006-2007 budget process. For more information please contact your respective budget officer.

The increase in the standard benefit rates for 2006-2007 reflects the rising costs of benefits including the cost of providing pensions.

For research grant applications and ancillary budgets that will need to be submitted this fall for fiscal 2007-2008, we would recommend that you use the estimated rates of 23.50% for appointed staff and 10.00% for non-appointed staff.