Excerpt from: University of Delaware Policies and Procedures Manual, Section: Personnel
Contributions
All eligible employees contribute to the Federal Social Security Program. Because contributions are statutory, deductions are taken automatically from every paycheck. The contributions paid by employees are matched by the University. All monies deducted and matched are sent directly to the Social Security Administration and deposited in each individual's personal account.
Regular Social Security contributions are set by federal law up to a designated wage base. In addition a smaller percentage, for FICA-Medicare, is paid on unlimited salary.
Benefits
* Retirement
* Disability
* Survivor
* Medicare Hospital and Medical-Surgical benefits for age 65 and over and disabled individuals deemed "medicare-eligible."
When to Contact
Employees should contact their regional Social Security Office three months prior to retirement if they wish to receive benefits in a timely manner.
For more information:
