Faculty-Staff Digest - (01/02/2013 @ 2:51 PM)
Employee Contributions to Social Security; temporary 2% credit has expired (Lynne Toussaint)
The reduced 4.2% rate for employee contributions to Social Security that was in effect for 2011 and 2012 has expired. For 2013 paychecks, the employee contribution rate returns to 6.2% of taxable wages (up to $113,700.00 in wages per year). For more information, please refer to IRS.gov.