Benefits Recharge Distribution Rate for FY 2020
After careful review, the university's executive vice presidents have approved a benefits recharge rate of 1.95 percent of payroll for Fiscal Year 2020. This change represents a decrease from the current fiscal year's rate of 2.10 percent.
The rate is analyzed and adjusted annually to ensure that we adequately meet expense obligations for the programs funded by the benefits recharge pool, such as retiree benefit programs including medical, prescription drugs, life insurance, dental and Medicare Part B premium reimbursements.
For more information about the benefits recharge distribution and the general ledger accounts subject to benefits recharge, please visit www.finops.umich.edu/reporting/brd.
If you have questions or comments regarding the benefits recharge rate, please feel free to contact me at firstname.lastname@example.org.