The News-Gazette Online -
[Cached Version]
Published on: 8/5/2004
Last Visited: 8/6/2004
The campus will pay about $1.25 million this year and $2 million next year, when the contribution for health insurance increases, said Associate Provost Bill Adams.He expects that to increase in the future as well.The UI will renegotiate its contract with its insurance provider next year, and industry analysts predict health care costs to increase significantly, Adams said.The GEO contract provides for renegotiating the terms regarding health insurance in its contract if the costs to graduate employees increase by more than 15 percent in an academic year.Another $3.1 million will come from research grants that pay the salaries of research assistants, and about $600,000 will come from the money to pay some specially-funded postdoctoral students who are research associates, Adams said.About 2 percent of the salary amount in a research grant will be charged to the grant for fringe benefits this year, he said.That will increase to about 4 percent next year and about 7 percent the year after that, he estimated.
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There are benefits, too," Adams said.
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Adams said the raises will cost the UI about $885,000 this year, an expense the UI was expecting.