4/06 Clemson University FY2007 Pooled Fringe Implementation.

Slides:

Advertisements

Similar presentations

Preparing for the Biennium Click on icon for presentation audio >>

Advertisements

University of California, Berkeley Composite Benefit Rates Fall 2014.

G Personal Finance G  Almost 31% of an individual’s paycheck is deducted  Taxes are the largest expense most individuals will have 

09 Payroll Accounting. It's a fact of business–if a company has employees, it has to account for payroll and fringe benefits.

© 2010 Prentice Hall Business Publishing, College Accounting: A Practical Approach, 11e by Slater Calculating Pay and Payroll Taxes: The Beginning of the.

How Taxes Are Applied to TMRS Benefits 2007 Annual Training Seminar 2007, Texas Municipal Retirement System.

Unit 2 Chapters 6, 8 & 9.  Chapter 7 is taxes  Cover close to tax time  6, 8 & 9 will have more terms  Will be responsible for these terms.

Kuali Budget Construction Training Catherine Maddaford KBC Administrator.

Financial Policies Training: General Funds Fringe Benefits (2.1.25) Effective: July 1, 2009.

18 Payroll Accounting Lecturer Assoc. prof. M.V. Leleka.

IPERS Overview & Benefit Options

1 YEARS OF TOTAL STATE SERVICE LONGEVITY PAY RATE 10 but less than 15 years1.5% 15 but less than 20 years2.25% 20 but less than 25 years3.25% 25 or more.

Employee Self Service HRMS UL Meeting October 21, 2011.

Fiscal Year University of Nevada School of Medicine Self-Supporting Budgets.

Calculating Fringe Benefits Office of Sponsored Programs.

Budget Journals and the Retro Process. Budget Journals & IDB’s Handout with form samples available.

MUSC Composite Fringe Benefits Rates Grants & Contracts Accounting Spring 2002.

Pooled Fringe Benefit Rates Proposed Implementation Plan Clemson University February, 2006.

Presented by the Office of Research Development & Services and Sponsored Programs Administration.

FICA and Medicare Payroll Tax FICA Stands for Federal Insurance Contribution Act Provides benefits for retired workers and their dependents Also provides.

BUDGET MANAGEMENT TRAINING PEOPLESOFT 8.9 Scott McElroy Office of Budget & Finance.

1 FY14 BDS Information Meeting March 26, Our Website Our website location has changed! So, if you have it bookmarked, please make note of the.

Pooled Fringe Benefit Rates Proposed Implementation Plan Clemson University February, 2006.

University of California, Berkeley Composite Benefit Rates.

Summer Payroll Review April Human Resources Services 2 Purdue University 2010 Summer Employment Calendar Fort Wayne.

Customized Reports for Payroll Processing-Session 1003 Patsy Havenstein Division of Human Resources, John Letourneau Office of Information.

Employee Benefits Payroll Tax April 2012 Federal and state statutes govern employee benefits at the institutional/employer level Approximately 17,400 FT.

Summer Payroll Review April Payroll Appointment Service Center 2 Today’s Discussion Summer Session Calendar Review – Sandy Skiles Summer Session.

FY13 Student Tuition Consultation SFMC – March 22,

Chapter 25.1 The Federal Government. Preparing the Budget Each year, the president and Congress create the federal budget, which is a plan for how the.

Arizona State Retirement System Presentation to the Government Finance Officers Association of Arizona January 7, 2011.

Temporary Alpha Positions. Objectives Why were Temporary Alpha Positions established? How were the positions structured? Who can be paid from these temporary.

Salary and Additional Pay Encumbrances Planned Go Live May 1, 2015.

City of Orlando Public Safety Costs August 21, 2007.

Chapter 14 Payroll Accounting, Taxes, and Reports.

4.01 FORMS OF COMPENSATION / PAY. MONETARY COMPENSATION Wage - The amount of money paid for a specified quantity of labor. Salary - A set amount of money.

G1 © Family Economics & Financial Education – Revised March 2008 – Paychecks and Taxes Unit – Understanding Your Paycheck Funded by a grant from.

Summer Pay for 9 Month Faculty and Staff A PowerPoint Primer for Payroll Preparers – Summer 2006 Compensation, Human Resources.

Introduction Guy Narine Manager, Newark Grants Office Phone: (973) Fax: (973) –

ERS/PSERS RETIREMENT PLAN OVERVIEW PRESENTER: FLAVIA PEYNADO GEORGIA ASSOCIATION OF SCHOOL BUSINESS OFFICIALS (GASBO) AUGUSTA GA Employee’s Retirement.

Merit Program  Overview – General Information  Employee Eligibility  Merit Allocation Pools & Funding  Merit Awards, Process, Rules  Draft.

Today’s Lecture #24 Social Security What Goes In and What Goes Out? Financing Historical Development Benefits What You Can Expect.

Covered Employer Training Program Introduction to the Retirement Systems FY 2016.

Florida International University G-51 April 9, 2010.

1 Faculty Deferred Pay. 2 Agenda New Hires Salary Changes Position Changes Additional Assignments Terminations Calculations Posting Questions.

Angelo State University Salary Encumbrances in Banner Finance.

1 YEARS OF TOTAL STATE SERVICE LONGEVITY PAY RATE 10 but less than 15 years1.5% 15 but less than 20 years2.25% 20 but less than 25 years3.25% 25 or more.

Examples of Proof of Payment - Personnel. Example of Direct Deposit 1- from a full service payroll company such as ADP, Paycheck, etc. For personnel where.

McGraw-Hill/Irwin Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 6 Charging Labor Costs into Production.

Examples of Proof of Payment - Personnel

Time & effort reporting

Reading a Budget Variance Report

Composite Benefit Rates

Ad Hoc Committee on Summer Benefits Rate

Composite Benefit Rates Fall 2014

Budget Planning & Training

HOLLIDAYSBURG AREA SCHOOL DISTRICT

Implementation of Terminal Vacation Payout Pool for FY 17

Payroll Management 12-3.

YOU  Chapter 8 Payroll Setup FICA-SST FICA-HI Form941 FIT Form941

We are Happy to Serve With You!

Payroll UNT Budget Office budget.unt.edu.

New Federal Guidance MCW negotiates its fringe benefit rates with the Department of Health and Human Services (DHHS) annually. Based on direction from.

Income – The payment people receive for providing resources in the market. Wages – The income for providing human resources (labor).

Temporary Alpha Positions

Payroll UNT Budget Office budget.unt.edu.

We are Happy to Serve With You!

New Voluntary Staff Phased Retirement Program

AU Human RESOURCES, GRADUATE SCHOOL, AND RESEARCH

Presentation transcript:

4/06 Clemson University FY2007 Pooled Fringe Implementation

4/06 Pooled Fringe Groups (by benefit program code; based on benefit eligibility) 9 Month = 23.7%  9M0 (9 Month Faculty) 12 Month = 29.2%  FED (Federal Employees)  GST (Temporary Grant Employees)  STA (12 Month Faculty and Staff) Part Time/Temporary = 14.9%  RRR (Returning Retirees)  TLR (Permanent Part Time)  TMP (Temporary Employee) Students = 2.9%  NEL (Undergraduate Student)  GRD (Graduate Student)

4/06 Pooled Fringe Includes 5201/5202 FICA 5203/5204/5205 Retirement 5207 Health/Life/Long-Term Disability Ins 5208 Unemployment Tax 5209 Workers Compensation 5210 Dental Insurance

4/06 FY07 Fringe Accounts 5220 Pooled Fringes 9 Mo Emp 5221 Pooled Fringes 12 Mo Emp 5222 Pooled Fringes PT/Temp 5223 Pooled Fringes Students

4/06 FY06 Year End Accrual Accrual is a 10/90 split 10% of salary and detail fringed will be posted to the old year (FY2006) Fringe will be calculated on 90% of salary and posted to the new year (FY2007) along with the remaining 90% of salary Business Officers will receive the customary spreadsheets to review account numbers All other rules as stated in the customary letter will still apply

4/06 FY07 Payroll University month end reports will indicate the new pooled fringe account numbers View Paycheck in MyCLE will remain the same

4/06 FY07 Departmental Voids and Refunds Effective 7/1/06 departmental fringe voids and refunds will no longer be processed to ledger; these are incorporated into the annual calculation Detail will remain as before in the payroll system Salaries will be credited back to departmental budgets

4/06 FY07 Payroll Corrections Web application will not change All FY06 corrections must be entered and approved BEFORE 7/17/06

4/06 Miscellaneous Points The appropriate pooled fringe percentage will be consistently applied regardless of the individual employee’s benefit elections Existing detailed fringe accounts (5201, 5202, etc.) will be closed at FY06 year end The use of the web application for payroll corrections is HIGHLY encouraged