UAFR has recently updated its Benefit Assessments by Fund Type document, which is located on UAFR’s Reference Materials webpage. See below for a few tips to keep in mind as you are reviewing this document:
- The table within this document defines and displays the standard fringe benefit assessments by fund type.
- For example, if payroll expenses post to a 1A state fund, then those payroll expenses will typically not be assessed for any fringe benefits.
- However, if payroll expenses post to a 4M gift fund, then those payroll expenses will be assessed for HLD, Retirement, Medicare, and Worker’s Compensation (if applicable to the individual’s pay event).
- You can use Banner page FTVFUND (Fund Code Validation) to determine the fund type assigned to your fund.
- You can also locate the benefit assessments assigned to your particular fund by using Banner page FTMFATA (FOAPAL Attribute Association).
Contact
If you have any questions related to this topic, contact UAFR’s subject matter experts on payroll accounting issues at uafrpayrollacctg@illinois.edu.
