1. Future (Preliminary) Benefit Rates How Commitments Will Be Applied in eFECS CSM
Michael Anthony, MAA
May 9, 2013
MRAM

2. Benefit commitments in csm
Faculty
Date driven
‘Current’ benefit rate will be applied to salaries for FEC periods that end in ‘current’ fiscal year
‘Future’ (preliminary) benefit rate will be applied to salaries for FEC periods that end in ‘future’ fiscal year
Non Faculty
Not date driven
Will always apply ‘future’ (preliminary) rate to salaries if available
If ‘future’ (preliminary) rate not available then ‘current’ rate will be applied to salaries

3. How it Will All Work
Believe this is a best approach for both FEC and non- FEC salaries
Minimum amount of time benefit rates out of synch (future rates known around April/May so, at most, 2-3 months)
Guidance – Presently working on additional guidance for departments.
Will advise when completed through MRAM and eFECS list serves
Note, this applies to commitments only. Actual benefit rates will be applied to actual salaries

4. Current: Faculty Commitments
Historical benefits rates are available in the eFECS CSM
Future rates are not in the system until July. (Typically around July 8)
Example: A future commitment set up today (4/22/13) would use the most recent rate available in the system (26.9%)
1/1/13-6/30/13- 6/30/13 uses 26.9% benefit rate
7/1/13-12/31/13 also uses 26.9% as the benefit rate

5. New: Faculty Commitments
Historical benefits rates are still available in the eFECS CSM
Future rates are available in the system for commitments with a start date of 7/1/13 or greater
Example:
1/1-6/30/13 uses 26.9% rate
7/1/13-12/31/13 uses the new 25.3% rate

6. CURRENT STATE:
Commitment set ups use the most current rate available in the system
Historical benefits rates available
Dates 7/1/13 and beyond use most current rate in system
NEW:
Commitment set ups continue to use the most current rate available in the system, but now this is the future rate
Installments with date 7/1/13 and beyond use future rate in system
Commitment set up on 4/22/13 uses 37.7% (current rate)
Commitment set up on 4/22/13 uses future rate of 35.7%
All installments with date > 7/1/12 use future rate of 35.7 %
All installments with date > 7/1/12 use 37.7% (current rate)