The Social Security Administration has announced the maximum taxable earnings and rates for FICA and FICA Medicare for the year 2001. While the rates remain the same as 2000, the taxable earnings have increased.

For FICA, the 2001 rate will be 6.2 percent on earnings up to $80,400, with a maximum employee tax of $4,984.80.

For FICA Medicare, the 2001 rate is 1.45 percent, with no limit on earnings and no maximum employee tax.

During 2000, the maximum taxable earnings were $76,200 for FICA and no limit for FICA Medicare.

Any questions concerning FICA taxes should be directed to the University Payroll Office at 831-2178.