FY24 Fringe Rates

The University has successfully negotiated a new Fringe Benefit cost rate agreement with the

U.S. Department of Health and Human Services for the upcoming Fiscal Year 2024. The University's current Fringe Benefit rates for FY24 are summarized below. The official rate agreement has been finalized and posted at: https://ora.umd.edu/resources/fa.

The following fringe rates are effective 07/01/2023 through 06/30/2024:

Group	FY24 Fringe Rate	Object Codes
Faculty	30.7%	1011, 1012, 1015, 1016, 1018-- Includes 12-month and academic year faculty
Staff	36.9%	1013, 1014-- Includes exempt and non-exempt staff
Limited Benefits	25.5%	1020, 2069, 2072, 2073, 2090-- Includes contractual faculty and staff and graduate students
Legislated Benefits	6.4%	2067, 2068, 2071, 2074, 2075, 2080, 2081, 2100, 2120, 1099, 2099-- Includes students with hourly wages, and faculty/staff additional pays

These rates should now be used for all grant and contract proposals and planning purposes on non-sponsored funding sources. Kuali Research and Kuali Financial System will be updated to reflect these new rates in FY24.

If you have any questions, please contact Marchon Jackson, Assistant Vice President of Sponsored Programs Accounting and Compliance, at marchon@umd.edu.