Social Security / Medicare Gross
Social Security/Medicare Gross = All earnings codes that add to Gross Pay - Student pay - Non Resident Alien pay - Adjustment earnings codes (ADJ, PRB) + Fringe Benefit Income (FBN, VUT, MET, AST, TUI) + Taxable Group Life Insurance (GTL%%%-class T)- Before Tax Group Health Insurance - Dependent Care (DCARE-class B) - Health Care-Before Tax Parking. Both the employee and employer contribute OASDI and Medicare. See Fringe Benefit Rates (pdf) for more information. Effective for all wages paid on or after January 1, 2014, the Social Security rates apply only to the first $117,100.00 of taxable wages paid. There is no limit for Medicare contributions. Students enrolled at the University in the correct number of hours are not subject to OASDI and Medicare taxes.