Get your facts straight about Social Security withholding

2013-02-07T00:00:00Z Get your facts straight about Social Security withholding
February 07, 2013 12:00 am

Bill Krueger's recent letter advocated employers paying 1 percent into Social Security for each employee. I felt I needed to clear up some misconceptions.

  1. If you are paying 8.25 percent for Social Security, you should check with your HR department. The full withholding for Social Security and Medicare is 7.65 percent, and has been since 1990.
  2. Your employer pays the same 7.65 percent on your behalf (equal to $3,825 on a $50,000 salary). They continued to pay this full amount during the past two years, while individuals paid 5.65 percent.

Personally, I would rather have them paying in 7.65 percent than 1 percent.

- Kathleen Hernandez, Munster

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