Overview
The FICA Alternative Plan is a defined contribution retirement plan authorized under Section 401(a) of the Internal Revenue Code. It allows certain employees in temporary positions to participate, providing an alternative to earning Social Security credits.
Participants
- Adjunct Faculty
- Postdocs
- Postdocs on visas from some countries may not be eligible.
- Housestaff
- OPS Employees (Both Exempt and Non-Exempt)
Enrollment
Enrollment in the FICA Alternative Plan is automatic for eligible employees.
Contributions
- Mandatory employee contribution: 7.50% of biweekly earnings
- Voluntary employee contributions are not permitted in this plan
Benefit
The benefit received from the FICA Alternative Plan depends on the amount of money contributed by the employee and the growth of their investments over time.
Resources
- FICA Alternative Plan Document
- Fidelity NetBenefits Portal
- Schedule an In-Person or Virtual Appointment
- Representatives
- JT Carpenter
- 352-547-6600
- jt.carpenter@fmr.com
- Gene Varela
- 407-335-0834
- gene.varela@fmr.com
- JT Carpenter
Loans and Hardships
Loans and hardship withdrawals are not permitted in this plan.
Update My Beneficiary
Log in to your Fidelity account to update your beneficiary information.