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
- VALIC Microsite
- Investment Options and Performance Data
- Online Account Access
- Contact VALIC by phone:
- Client Care Center: (800) 448-2542
- Local Office: (352) 367-2409
Loans and hardship withdrawals are not permitted.