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 $113,700 for the year 2011. 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.