Social Security and Medicare
If you work as an employee in the United States, you must
pay social security and Medicare taxes. These payments
contribute to your coverage under the U.S. social security
system. Rogue Community College is required to deduct
these taxes. For more information, go to their website
at http://www.ssa.gov.
The amount of social security and Medicare taxes deducted
out of each paycheck may vary from month to month. These
taxes are based on a percentage of your gross earnings.
These percentages are 6.2% for social security and 1.45%
for Medicare. Social security has a maximum earning limit
of $76,200 for the year 2000. Medicare has no earnings
limit.
You will notice these two deductions out of your paycheck
each month. Remember that for every dollar your pay into
these funds, Rogue Community College matches that same
dollar amount.