Tilted Forum Project Discussion Community - View Single Post

cthulu23 · 10-23-2004, 10:35 PM

MrSelfDestruct,

I work at a large southern university that has "opted out" (according to human resources) of social security for all of it's employees. Staff MUST chose some sort of retirement plan of which SS is a single choice. I had never heard of such a thing before working here so I'm not sure exactly what the phrase "opt-out" means and what sort of institutions are eligible. If I had chosen SS as my retirement plan than 6.2% of my income would be allocated towards SS. I am not sure if I or my employer is paying additional SS taxes.

Is anyone here familiar with this "opt-out" program? HRM says we have "opted out" but I'm not sure exactly what this means. My internet payroll deposit slip simply reads: "federal taxes," which is less than enlightening.

10-23-2004, 10:35 PM	#14 (permalink)
cthulu23 Banned	MrSelfDestruct, I work at a large southern university that has "opted out" (according to human resources) of social security for all of it's employees. Staff MUST chose some sort of retirement plan of which SS is a single choice. I had never heard of such a thing before working here so I'm not sure exactly what the phrase "opt-out" means and what sort of institutions are eligible. If I had chosen SS as my retirement plan than 6.2% of my income would be allocated towards SS. I am not sure if I or my employer is paying additional SS taxes. Is anyone here familiar with this "opt-out" program? HRM says we have "opted out" but I'm not sure exactly what this means. My internet payroll deposit slip simply reads: "federal taxes," which is less than enlightening. Last edited by cthulu23; 10-23-2004 at 10:52 PM..