The federal law which requires employers to withhold a portion of employee wages and pay them to the government trust fund which provides retirement benefits. An acronym for Federal Insurance Contributions Act. More commonly known as social security.

Use FICA in a sentence

I didn't like FICA because it had to do with the government and I did not trust the government at all with anything.

​ Was this Helpful? YES  NO 3 people found this helpful.

When he received his first check from his new job at a software conglomerate, he was surprised by the amount of money withheld for FICA.

​ Was this Helpful? YES  NO 2 people found this helpful.

Our company is responsible for the periodic payment of FICA taxes withheld from our employee's pay together with a matching FICA contribution paid for by the employer.

​ Was this Helpful? YES  NO 5 people found this helpful.

Show more usage examples...

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
social security disability income insurance Old-Age and Survivors Insurance Trust Fund