FICA Alternative Plan
The FICA Alternative Plan is a defined contribution plan authorized under Section 401(a) of the Internal Revenue Code. Employees in certain temporary positions are mandated to participate in lieu of earning credit for Social Security. Participants contribute 7.50% of their wages and decide how to allocate the money in their account among the available investment funds. The benefit depends on the amount of money contributed and its growth over time.
- Adjunct Faculty
- Post Docs
- OPS Employees (Both Exempt and Non-Exempt)
Who does not participate?
- Grad Assistants
- Phased Retirees
- Rehired Retirees
Enrollment is automatic.
- Mandatory Employee: 7.50% of biweekly earnings
- Voluntary Employee contributions are not permitted to this plan
- Distribution Form – Coming soon
- Rollover/Transfer Out Form – Coming soon
- Plan Document – Coming soon
- Welcome Letter – Coming soon
Loans and hardship withdrawals are not permitted.
Update My Beneficiary
Login to your Fidelity account to update your beneficiary information.