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I have an Academic Year (9-month) appointment andI used a 7.65% fringe rate for my summer salary. What will be charged to my grant if and when I reach the FICA salary cap?

April 26, 2017academic andi appointment Fringe rate summer Used year

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I have an Academic Year (9-month) appointment andI used a 7.65% fringe rate for my summer salary. What will be charged to my grant if and when I reach the FICA salary cap?

1 Answer

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Posted

All salary earned after you have reached the FICA cap (currently $94,200) will only be charged for the 1.45% Medicare rate. If you reach the cap before your summer salary, the summary salary will only be charged 1.45%.