University of Iowa
PA-11: Employee Compensation

The lowest paid FTE regular employee is at pay grade 3, earning an annual salary of $26,852.80. Considering a 36% fringe benefit for this classification, total compensation = $26,351 x 1.36 = $35,837. For credit calculation, the denominator is the living wage for ONE Adult (10.50*40*52=21,840) so (35,837 / 21,840 = 164%). The University provides four Core insurance benefits: 1) Health Insurance 2) Dental Insurance 3) Group Term Life Insurance 4) Disability 5) Other benefits that are provided to employees include vacation and sick leave, University sponsored retirement plans and pensions, accidental death and dismemberment, tuition breaks, a flexible spending account, domestic partner eligibility, double spouse credits, and phased retirement options. There are 4 categories of regular employees which are Faculty, Professional non-bargaining, Professional bargaining, and Merit (non-professional). Each employee with a 50% or greater regular appointment will receive health care benefits and the fringe rate for each group is as follows: Faculty – 23.02% (Clinical), 28.61% (Non-clinical); Professional non-bargaining – 36.27%; Professional bargaining – 37.5%; Merit – 50.47% (bargaining), 36.27% (non-bargaining). Current University of Iowa fringe rates can be viewed here. https://hr.uiowa.edu/benefits/program-design-fpsmse