Updated Rates for Faculty Summer Salary
Starting with summer 2025, budgets that include faculty with AY appointments should use the fringe benefit rate of 17.65% (7.65% FICA + 10% retirement) on summer salary. To account for this change, the Kuali Research (KR) budget module has been updated to add 10% retirement on the Faculty (Summer Salary) and Salary Cap (Summer Salary) object codes
To incorporate the new rate into a budget that has already been created you must remove the Faculty (Summer Salary) and/or Salary Cap (Summer Salary) object codes from your budget and re-add them. For new budgets or budgets that do not yet have these object codes included, the rates will include the 10% retirement rate when the object codes are added.
OSP Budget Approval
For budgets that have already been approved by OSP the unit can decide if they’d like to revise the budget to incorporate the new rate. Please work with your proposal team contact within OSP for any budget revisions.
For budgets that have not been sent to OSP for review, we highly encouragethe budget be updated to incorporate the new rate.
