Fringe-Benefits Rate The University uses fringe benefits rates to recover the cost of employee benefits for those working on a research project from the project's funding sources. The idea is to match the costs of providing benefits to a similar group of employees with the cost of benefits provided to the research project's group of employees. While an individual employee may not participate in all benefits, the use of benefits rates serves to apply an average percentage to all employees within the same group. Because fringe benefits rates are applied to University grants and contracts, they are subject to annual audit by the Federal Government. A research project's fringe benefits rate is expressed as a percentage. The cost of employee benefits for the project is calculated by applying the rate to each project employee’s salary that will be charged to the project. The rate varies depending on the employee’s classification (faculty, staff, graduate student or undergraduate student). Regis University Fringe Benefits Rate Schedule