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.
Each pension plan must have a pension plan administrator (administrator) â the person(s) or entity that is/are ultimately responsible for the oversight, management and administration of the pension plan, and the administration and investment of the pension fund. The administrator is usually the employer that established the pension plan.