Vol. 19, No. 13

Dec. 2, 1999

FICA/FICA Medicare rates
announced for year 2000

The Social Security Administration has announced the maximum taxable earnings and the rates for FICA and FICA Medicare for the year 2000. The rates have remained the same as 1999, but the FICA taxable earnings limit has increased. For 2000, the rate on FICA earnings up to $76,200 is 6.2 percent, to a maximum employee cost of $4,724.40. There is no earnings limit on the FICA Medicare earnings rate, which is 1.45 percent. During 1999, the maximum taxable earnings were $72,600 for FICA and no limit for FICA Medicare. Any questions concerning FICA taxes should be directed to the University Payroll Office at 831-2178.