Form 14581 - Fslg Compliance Self-Assessment Page 6
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Flag Item Retirement Plan Coverage
1.
Does the entity have a public retirement system that qualifies as a replacement for social
Yes
No
security coverage?
Note: A governmental retirement plan must meet certain minimum benefit or contribution standards to qualify as a
public retirement system, and thereby serve as a “replacement” plan exempting the participants from mandatory
Social Security coverage. These standards are based solely on meeting a minimum benefit level provided (defined
benefit plan) or a minimum amount contributed (defined contribution plan) to the participant.
Any person working for a public employer after July 1, 1991, who is not covered in a public retirement plan that
meets the requirements discussed above and, if applicable, the defined benefit system safe harbor rules of
Revenue Procedure 91-40, must be covered by social security and Medicare under the mandatory coverage
provisions of Section 210 of the Social Security Act.
For more information about public retirement systems (social security replacement plans), see Chapter 6 of the
Federal-State Reference Guide,
Publication
963.
Yes
No
2.
Is the public retirement plan offered to all employees?
If not, specify categories of employees that are NOT covered. (specify all that apply)
Note: Employees in these categories must be covered for social security either under mandatory coverage or under
a Section 218 Agreement.
3.
Are the contributions to retirement plans subject to the applicable employment taxes?
Yes
No
Yes
No
A. 3121(b)(7)(F) Retirement Systems
• Employee deferrals are exempt from federal income tax withholding but are subject to social security and
Medicare taxes.
• Employer contributions are exempt from federal income tax withholding, social security, and Medicare taxes.
However, if the retirement system is not an “exempt governmental deferred compensation plan,” employer
contributions are subject to social security and Medicare withholding as of the later of when the services are
performed, or when there is no substantial risk of forfeiture.
B. 401(a) and 403(b) Plans
Yes
No
• Employee deferrals are exempt from federal Income tax withholding but are subject to social security and
Medicare taxes.
• Employer contributions are exempt from federal Income tax withholding, social security and Medicare taxes.
C. 457(b) Plans
Yes
No
• Employee deferrals are exempt from federal income tax withholding but are subject to social security and
Medicare taxes.
• Employer contributions are exempt from federal income tax withholding but are subject to social security and
Medicare taxes when no longer subject to substantial risk of forfeiture.
Notes
14581
Catalog Number 66247V
Form
(Rev. 3-2015)
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