Benefits Recharge Distribution Rate for FY 2024

Benefits Recharge Distribution Rate for FY 2024

The benefits recharge rate for Fiscal Year 2024 will remain at 1.95 percent of payroll for the upcoming year.

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 https://finance.umich.edu/finops/reporting/brd.

If you have questions or comments regarding the benefits recharge rate, please feel free to contact me at brwatson@umich.edu.

Additional Resources