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Cluster · rate · no year
Employee contribution rate for Medicare under FICA.
Not promoted to the official baseline.
This cluster is useful evidence for review. It does not drive the budget simulator until an admin confirms the amount against an official source and promotes it.
Corroboration
1docs
Consensus
0%
Votes attached
0
Date range
2024-10-21 — 2024-10-21
Employee contribution rate for Medicare under FICA.
FICA (Federal Insurance Contributions Act): FICA is the federal requirement that a certain amount be automatically withheld from employees' earnings. Specifically, FICA requires an employee contribution of 6.2 percent for Social Security and 1.45 percent for Medicare. The city contributes a matching 7.65 percent on behalf of each employee.
Reasoning: This is a statutory payroll tax rate.