Employer's share of STRS = 0.14 x salary
Workers Compensation = 0.00652 x salary
Medicare = 0.0145 x salary
Group Health Insurance is not allowable unless the visiting professor will be in residence at Ohio University for at least two consecutive quarters. Departments should consult with the Associate Provost for Academic Affairs if they plan to budget funds for health insurance.
Budget EXAMPLE:
|
Expense
|
Amount |
| Salary - full time for one academic quarter |
$15,000.00
|
| Employer's share of STRS (0.14 x $15,000) |
2,100.00
|
| Workers Compensation (0.00652 x $15,000) |
97.80
|
| Medicare Expense (0.0145 x $15,000) |
217.50
|
| Total Expense |
$17,415.30
|
NOTE!
Visiting professors should be informed that STRS deductions from their salary are mandatory. However, they will be immediately vested in their own contributions and can withdraw them or request a rollover to their own retirement accounts once their employment at Ohio University has concluded.
Employee's share of STRS = 0.10 x salary
In the example above, the employee's share of STRS would be 0.10 x $15,000 or $1,500.00, leaving a net salary $13,500.00.
To view the STRS brochure regarding account withdrawals, click HERE. The request form is on pages 17-19 of the brochure. After filling out their portion of the form, visiting professors must submit it to the Ohio University payroll office for processing.
Ohio University
Payroll Department
60 Union Street
HDL Center - Suite 214
Athens, Ohio 45701
Office Hours: 8:00 am to 5:00 pm Monday - Friday
Phone: (740) 593-1000
