Fringe Benefit Rates FY 2023-2024
| Fringe Benefits | Employee Contributions | Employer Contributions | Limit |
|---|---|---|---|
| OASI (Social Security) | 6.20% | 6.20% | Up to $168,600 CY 2024 |
| OASI (Medicare) | 1.45% | 1.45% | No Limit |
| OASI (Medicare) Affordable Care Act Assessment | 0.90% | Wages over $200,000 CY2024 | |
| Unemployment Compensation Insurance (UCI) - Calendar Year | 0.45% | Up to $9,000 | |
| Vacation and Sick Leave Assessment | 1.66% | No Limit | |
| Worker's Compensation Insurance (WCI) | 0.111% | No Limit | |
| Teacher Retirement wages paid on or after 09/01/2023 | 8.25% | 8.25% | Wage Base $330,000 |
| Teacher Retirement Pension Surcharge | 16.5% | *if applicable | |
| Optional Retirement | 6.65% | 8.50% | Wage Base $330,000 |
| Level of Coverage | UT Select State Monthly | Premium Share | Information |
|---|---|---|---|
| Premium Sharing - Employee Coverage | 0 | $725.80 | Use 1/2 Premium Sharing Rates |
| Premium Sharing - Empl/Spouse Coverage | $312.50 | $1106.24 | Part-time Employees |
| Premium Sharing - Empl/Child Coverage | $326.84 | $969.22 | |
| Premium Sharing - Empl/Family Coverage | $615.40 | $1351.94 |
NOTES:
- Benefit eligible employees appointed less than 99.95% time will only receive one-half of the premium share amount listed above.
- Work-study and students are not subject to UCI.
- Gross, Longevity, and Hazardous Duty pay are included as part of an employee's salary for all fringe benefit calculations.
- OASI calendar year limits are set by the IRS and will be updated at CY (calendar year) end