Summer Stipends

Summer Stipend Recipients

A stipend award of $3,300 is comprised of two separate components, which results in a $3,000 stipend that is paid to the employee. The remaining $300 is the fringe benefit component that is calculated at 10% of the total stipend amount and represents the employer portion of fringe benefit costs. Normal deductions are then applied as indicated on your W-4 in the Payroll Office.

All personnel receiving compensation, (including Summer Stipends), will be required to fill out a time and effort form. The form is designed to document the percentage of time or actual time spent on approved activities. In order to receive compensation, download the "Time and Effort/Extra Compensation" form available at www.bradley.edu/otefd, complete all required information, and attach the form to a completed requisition. Submit your completed forms to the OTEFD office (102 Kaufman).

The form should be submitted at the end of each month (when work has been performed during that month). The requisition should denote the individual to receive the extra compensation, the total hours worked, the rate of pay, and the total amount of extra compensation. Each employee is responsible for substantiating the hours reported on the Time and Effort Report/Extra Compensation form via a log, diary, or other method.

To compute your rate to report on the form, take gross annual salary and divide by 1,560 (for 9 month contract).

More on Fringe Benefits: For every salary charged to the sponsor for Bradley University personnel, related fringe benefit charges must be budgeted as well. Employee benefits include such items as FICA, insurance, retirement plan contributions, etc. These amounts must be charged to the grant in relation to the salaries that are given. Fringe benefits are currently calculated at 25% for Full-time employee wages (for grants, contracts, etc.) and 10.0% for Part-time employees and extra compensation/summer and winter interims for full-time Bradley University employees. Fringe benefits are not calculated against undergraduate and graduate student salaries, and are not waived in grant proposals where they are an allowable cost.

• Example BU Requisitioin form .pdf
• Example Time and Effort/Extra Compensation form .pdf

Questions regarding the Summer Stipend Award program can be directed to the OTEFD Office at 677-4118 or email to otefd@bradley.edu.