Campus News
Reduction in Social Security Payroll Tax for 2011
On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.
To compensate for the January 3, 2011 over-withholding, employees paid on February 1, 2011 will see an additional 2-percentage point reduction in their social security tax withholding. As a result, the net withholding for social security will be 2.2% for the February 1, 2011 payment only. The withholding rate will then change to 4.2% for all subsequent pay dates in 2011. If you have any questions about this change, please contact the Payroll Office at 459-2488.