POLICY NUMBER: V D
SUBJECT: SOCIAL SECURITY
APPLIES TO: FACULTY AND STAFF
EFFECTIVE DATE: July 1, 1993
REVISED FROM: February 17, 1990
Each employee of the University except a student employee employed in a student capacity is covered by the Old-Age and Survivors Insurance section of the Social Security Program and, thus, is eligible for benefits in accordance with the laws governing this program.
l. Record Requirements
- An employee must have or obtain a Social Security card and must supply a completed Treasury Form W-4 with the proper Social Security number and name as it appears on the Social Security card to Human Resources at the time of initial employment.
- If the employee changes his/her name, it is the employee's responsibility to obtain a new Social Security card reflecting the new name to insure that future contributions are properly credited to the employee's account.
2. Payroll Deductions
- The Social Security tax (F.I.C.A.) is deducted from the pay of each employee until he/she reaches the maximum contribution during the calendar year.
- The Social Security tax is a designated percentage of all earnings to a maximum amount per year. These amounts change periodically according to published federal scale.
3. Deduction Exemptions
- Kentucky Employees Retirement System
- Kentucky Teachers' Retirement System