Common use of FICA Clause in Contracts

FICA. The present value of future retirement benefits will be reduced by the Social Security and Medicare taxes (FICA) that would have been payable by the teacher if the benefits would have been paid directly.

FICA. The present value of the future retirement benefits Retirement Pay will be reduced by the Social Security and Medicare taxes (FICA) that would have been payable by the teacher if the benefits would have Retirement Pay had been paid directlydirectly to the teacher.

FICA. The present value of the future retirement benefits Retirement Pay and Retirement Bridge Pay will be reduced by the Social Security and Medicare taxes (FICA) that would have been payable by the retiring teacher if the benefits would have Severance Benefits and Retirement Bridge had been paid directlydirectly to the teacher.

FICA. The present value of future retirement benefits will be reduced by the Social Security and Medicare taxes (FICA) that would have been payable by the teacher certified employee if the benefits would have been paid directly.