On August 8, 2020, President Trump signed an executive order allowing organizations the option to defer the employee portion of their Social Security taxes. The purpose of this communication is to advise you that Montclair State University is not participating in this program. The executive order and rationale for this decision are summarized below.
The executive order allows the deferment of the employee portion of the Social Security taxes from September 1, 2020 through December 31, 2020 for employees who earn less than $104,000 annually.
The President’s Executive Order does not forgive the employee portion of the Social Security tax, it is deferred until January 2021. Therefore, in January, the employee would have double deductions for the employee portion of the Social Security tax for 4 months to make up for the missed deductions.
The Social Security Tax Deferral program is optional and Montclair State University has opted to not participate in the Employee Social Security tax deferral program.
For any other questions not addressed, please contact Workday Support at: email@example.com or 973-655-5000.