Did you know that different fund types (such as state, gift, and self-supporting funds) have unique fringe benefit assessment combinations for payroll charges? Below are a few helpful tips and resources to help you navigate these differences:
- For example, payroll expenses charged to a state fund (fund type 1A) are typically not assessed for fringe benefits.
- However, payroll expenses charged to a gift fund (fund type 4M) are typically assessed for the following fringe benefits (when applicable to the individual’s pay event): Health/Life/Dental (HLD), Retirement, Medicare, and Worker’s Compensation.
- To determine the fund type assigned to a specific fund (which is needed to properly use this job aid), use Banner page FTVFUND (Fund Code Validation).
- You can also identify the benefit assessments assigned to a specific fund by using Banner page FTMFATA (FOAPAL Attribute Association).
Contact
For additional guidance, feel free to reach out to UAFR’s payroll accounting subject matter experts by email at uafrpayrollacctg@uillinois.edu.
