Employee Benefits
Social Security and Medicare
All employees of the University, other than most student employees, are covered by Social Security and Medicare. Social Security and Medicare taxes, sometimes called FICA (Federal Insurance Contributions Act) taxes, are automatically deducted from your wages unless you are an exempt student employee.
Indexed annually, your 2008 Social Security withholding is 6.2% of your wages up to $102,000. Your Medicare withholding is 1.45% of your wages, without limit. The University matches your tax, for a total contribution of 15.3% of salary.
Program Features
Social Security provides you (and in some cases your spouse or former spouse) with a monthly retirement benefit at age 62 or later. In addition, you may qualify for disability benefits if you become unable to work before retirement age. If you die prematurely, Social Security provides your dependent children with support until age 18. Your spouse, parents, and disabled children may also be eligible for survivor's benefits.
Social Security Administration
Medicare provides you (and your spouse) with insurance coverage for some health care costs when you reach age 65. You may qualify for Medicare coverage earlier if you become disabled.
This document was last revised on January 2, 2008
