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Quote-a-Day Gifts
Insurance facts, terms, people, websites, history, and events in a calendar. Each day of the calendar year contains an interesting reference devoted to the Insurance industry.  Practical, informative and entertaining.

Insurance

August 19, 2018
PrintedOwl.com
The FICA deduction on your pay stub stands for Federal Insurance Contributions Act, which was enacted as part of the Social Security Act of 1935. FICA requires employers to withhold a set percentage of an employee’s pay check to fund retirement income, disability insurance, and medicare and benefits for survivors. The program began collecting taxes and paying benefits in 1937.
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