Social Security

All Employees participate in the federal Social Security system through equal contributions that are made by them (through payroll deduction) and by the University. Contributions are made at the rate of 6.20% on earnings up to the Social Security Taxable Wage Base for Social Security and at the rate of 1.45% on all earnings for Medicare Hospital Insurance. In addition, the University matches the Employee's contributions, which are then deposited into his/her social security account.