VII. FACULTY AND ACADEMIC STAFF RETIREMENT AND BENEFIT PROGRAMS (Cont.)
AUTOMATIC BENEFITS (Cont.)1
Social Security
Most faculty/academic staff members who perform services for Michigan State University are covered by Social Security (FICA). Social Security provides retirement benefits subject to age rules and participation; a lifetime income in the event of total permanent disability for the faculty/academic staff member; benefits for dependents subject to certain age rules; and a lump sum payment at death and monthly income for qualified survivors. (Foreign Nationals presenting F or J visas may be exempt from provisions of the Social Security Act - See Payroll Procedures.) Full information is available from the local Social Security Office.
Footnote:
For benefit purposes only, half-time is defined as 50.0-64.9 percent time; three-quarter time is defined as 65.0-89.9 percent time; full-time is 90.0-100.0 percent time.
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