SOCIAL SECURITY (F.I.C.A.)
(Reference Policy 7.30)
All employees of the university, with the exception of graduate assistants, student employees and certain Cooperative Extension Service employees are covered under Social Security. Payment is made by payroll deduction in accordance with the chart below, with the university matching the employee contribution.
| Calendar Year | Type | Tax Wage Base* | Tax Rate | Maximum Payment* |
|---|---|---|---|---|
| 2007 | Social Security | $97,500 | 6.2% | $6,045 |
| 2007 | Medicare | n/a | 1.45% | n/a |
*The maximum salary is used for Social Security (6.2%). The maximum for the Medicare portion (1.45%) is continued for total salary. The maximum salary is subject to change each year based on the change in the Consumer Price Index (CPI).
NOTE: This is a summary description of benefits available to New Mexico State University employees. This document does not set a contractual commitment of benefits. If you have any questions concerning benefits, please refer them to the Benefit Services Department.
For more details on the benefit programs please refer to Chapter 7 of the NMSU policy manual.
- Benefit Services
- MSC 3HRS * P.O. Box 30001 * Las Cruces, NM 88003 * Hadley Hall, Room 14
- (575) 646-1741 * benefits@nmsu.edu