CU System Administration and Employee Services will close at 1 p.m. Wednesday, Nov. 27 and will reopen at 8 a.m. Monday, Dec. 2. Happy Thanksgiving to all CU faculty, staff, students and their families!
Social Security deductions resume Jan.1, contribution limit increases
Beginning Jan. 1, 2019, Social Security will resume for employees who earned more than $128,400 in 2018. Please remind your department’s employees who fall into this category, as January 2019 paychecks will reflect resumed contributions.
In 2019, the Social Security tax rate will remain at 6.2 percent. The maximum taxable earnings for Social Security will increase $132,900, at which point the withholdings will stop.
Medicare will continue to be withheld at 1.45 percent on all earnings. Employees with earnings in excess of $200,000 for single filers, and $250,000 for married filing jointly, will also be subject to a 0.9 percent additional Medicare tax.
To see important year-end reminders, dates and deadlines visit the Employee Services website.
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