Vision Payroll

March 26, 2010

Question of the Week: How Does the HIRE Act Affect Employees’ Future Social Security Benefits?

This week’s question comes from Sean, an HR director. We are in the process of hiring some employees who would allow us to claim exemption from paying the employer’s share of social security taxes because of the HIRE Act. Some employees are hesitant due to the impact on their future social security benefits. How does the HIRE Act affect employees’ future social security benefits? Answer: Under the Hiring Incentives to Restore Employment Act (HIRE Act), employers who hire certain unemployed workers are allowed not to pay certain employment taxes. Although employers may be exempt from paying the taxes, there is no impact on any employee’s future social security benefits. Contact Vision Payroll if you have further questions on the HIRE Act.

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