Social Security - IRFM

Removed From Faculty Manual

Faculty Manual Part VI Section IIE

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E. Social Security
All university employees, with the exception of students, are subject to the provisions of the Federal Social Security Act that requires a percentage contribution subject to the current Social Security law.  This is a separate contribution from the state retirement that cannot be withdrawn.  The amount paid by the employee will be matched by the university.  All state-owned agencies and institutions are considered one employer under the Social Security law; therefore, if the employee receives earnings from more than one agency or institution within the calendar year, it should be brought to the attention of the university payroll department.  Social Security benefits may be claimed at the age of 62; however, these benefits will be lower than the benefits received at age 65, which is the age at which maximum benefits may be claimed. Retirement benefits under the Social Security law will be based on average earnings beginning with 1937, or beginning with 1951, whichever will allow the higher benefit.  There is also provided a broad program of health insurance called Medicare for people 65 years of age and over. One part of Medicare is hospital insurance, which helps pay for hospital care and certain follow-up services. The other part is voluntary medical insurance, which helps pay physician's fees and other medical bills. More detailed information may be obtained from the local Social Security administration office.

Deleted as per Faculty Senate Resolution 11-61.
Approved by the Faculty Senate: April 19, 2011  
Approved by the Chancellor: May 26, 2011