2019-2020 Employee Handbook

Retirement and Social Security Contributions

Effective July 1, 2011, the law requires all Florida Retirement System (FRS) Investment Plan and Pension Plan members to make a 3 percent employee contribution on a pretax basis. In addition to the 3 percent employee contribution, the college contributes a portion of the FRS benefit on your behalf. 

Part-time employees become eligible to participate in the Florida Retirement System once they have worked 2,080 hours in a FRS covered position.

The college also pays a Social Security contribution, which is currently set at 6.2 percent of an employee’s salary. This amount matches the employee’s contribution.

All persons hired on and after April 1, 1986, are required by the federal government to make Medicare payments. This is automatically included as part of the Social Security coverage. Those employees who do not normally come under the college's Social Security agreement (temporary employees, e.g., continuing education instructors, tutors, substitutes) must also have this Medicare coverage deducted from their pay. The cost is currently set at 1.45 percent of the salary. This amount matches the employee’s contribution. 

Additional Medicare Tax applies to an individual's Medicare wages that exceed a threshold amount based on the taxpayer's filing status. An Additional Medicare Tax of 0.9% must be withheld on an individual’s wages paid in excess of $200,000 in a calendar year, without regard to filing status. There is no employer match for Additional Medicare Tax.