Medicare payroll tax on earned income. The Medicare payroll tax is 2.9%. It applies only to earned income, which is wages you are paid by an employer, plus tips. Youâre responsible for 1.45% of the tax, and itâs deducted automatically from your paycheck. Your employer pays the other 1.45%.
Plan administrator. Plan Administrator. The person or company that manages a pension. That is, the plan administrator makes investment decisions with the contributions the employer and/or employees have made. The plan administrator is responsible for keeping the pension on sound financial footing.
Founder, Georgia Medicare Plans, Atlanta,GA. Plan administrators are often used with an employer group health insurance plan, especially if the plan is self funded. In a self funded plan a trust is established to hold and manage employer and employee contributions to the loss fund.