Have you ever wondered which fringe benefits are assessed to various fund types? If so, see below for some helpful information:
- The table within the Fringe Benefit Assessments by Fund Type job aid provides an overview of the primary fringe benefits assessed to each different fund type.
- If pay events for eligible employees are assessed for the fringe benefit listed within the table when they post to a particular fund type, then a “Y” will be displayed. If not, then an “N” will appear.
- For example, if pay events for eligible employees post to a 1A or 3E fund type, then those payroll expenses won’t be assessed for these fringe benefits, as denoted by the “N” in each field.
- However, if pay events for eligible employees post to a 3Q fund type, then those payroll expenses would be assessed for Retirement, Medicare, and Worker’s Compensation within that 3Q fund, as denoted by the “Y” in each of those fields (or the “UA, CA, or SA” in the W/C field).
- If you would like to use this table but are unsure of the fund type assigned to a particular fund in question, you can use Banner page FTVFUND (Fund Code Validation) to filter on the chart-fund combination of the fund you are researching, and the fund type will appear in the third column of your query results.
- You can also locate the benefit assessments assigned to a particular fund within Banner as well, using Banner page FTIFATA (FOAPAL Attribute Association Query).
- For further details, refer to UAFR’s Fringe Benefits webpage.
Contact
If you have additional questions on this topic, feel free to reach out to UAFR’s applicable subject matter experts on payroll accounting issues at uafrpayrollacctg@uillinois.edu.
