UTPA Employer Paid Fringe Benefits [ Effective 9-1-2014 ]
For budgeting purposes only, you may estimate your department's Fringe Benefit expense by the following categories.
||Multiply Total Compensation by each row of benefit rates for Lines 1, 2, 3, 4, 5, and multiply product of $982.42 (or $491.21 if part-time) by the number of months of employment for the fiscal year for Line 6. Sum all products.
||Multiply Total Compensation by each row or benefit rates for Lines 1, 3, and 4, and sum all products.
||Multiply Total Compensation by each row or benefit rates for Lines 1, and 4, and sum all products.
|Students who work under the Workstudy program during a semester period are exempt from FICA, Line 1.
||FICA [ OASI ]
||6.20% (0.062) Social Security
||Wage Base³ $117,000
|1.45% (0.0145) Medicare
||No Limit for Medicare Tax
|7.65% (0.0765) Total FICA
||6.80% (0.068) TRS matching
||Wage Base $255,000
|8.50% (0.0850) ORP matching
||Wage Base $9,000
||Vacation Sick Leave
||Group Health Insurance
Premium Sharing Rates
¹ Reporting Entity Pension Surcharge for Reported Retirees
Beginning Sept. 1, 2013, each report month a retiree who retired after Sept. 1, 2005, is working for a TRS-covered employer or a third-party entity for more than the equivalent of four clock hours for each workday in the calendar month, the employer will pay the the pension surcharge. The amount of the pension surcharge is a combination of the employee contribution rate (currently 6.4 percent) and the state contribution rate (6.8 percent for the 2013-2014 school year), for a total of 13.2 percent of the salary paid to that retiree in that report month.
The TRS-Care surcharge will be triggered by the same criteria. If a retiree works for a TRS-covered employer or a third-party entity for more than the equivalent of four clock hours times the number of workdays in the calendar month, the TRS-Care surcharge will be due if the retiree participates in TRS-Care. The amount of the TRS-Care surcharge varies person-to-person based on the level of TRS-Care coverage. The employer may find the amount TRS-Care Surcharge due on an individual member by using the “View Employee Information” tool in TRAQS. This change means that exceeding the limit on one-half time employment will result in the surcharges being owed and the retiree forfeiting that month’s annuity (if the retiree retired after Jan. 1,2011). Source as of 08-08-2013 : http://www.trs.state.tx.us/reporting/documents/update.pdf
² Rate is subject to change without notice to fund unemployment claims.
³ Effective 01-01-14