Monday, January 30, 2012

On your paycheck, what does Fed MED/EE and Fed OASDI/EE mean?

Those are your contributions to Social Security (OASDI) and Medicare (MED). The MED figure should be 1.45% of your gross pay (but remember to deduct anything taken out of your pay for your employers health plan). The OASDI figure will be 6.2% of the same figure unless you are earning more than about $90,000 per year. you should ensure these are deducted each paycheck. If they are not you will get fewer benefits than you anticipated when you retire.

http://answers.yahoo.com/question/index?qid=20061016115741AArhlLz

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