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Non-profit Plan Termination And Fica

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My nonprofit employer of 30 years terminated our 457b with 5 days notice on November 2. The accrued monies are employer contributions from the last 27 years that were not reported on my W-2 statements and no FICA or Medicare tax was withheld. I understand that this distribution is ordinary income for this year and Fidelity withheld state and federal tax before sending me a check. What about FICA and medicare? Neither Fidelity nor my employer has mentioned it. Who is responsible and who pays?

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My nonprofit employer of 30 years terminated our 457b with 5 days notice on November 2. The accrued monies are employer contributions from the last 27 years that were not reported on my W-2 statements and no FICA or Medicare tax was withheld. I understand that this distribution is ordinary income for this year and Fidelity withheld state and federal tax before sending me a check. What about FICA and medicare? Neither Fidelity nor my employer has mentioned it. Who is responsible and who pays?

 

 

I think you have been paying Fica & medicare all along because the funds are vested. Check your w-2. there is a box that reports the amount of the contributions.

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