WPBENCOR

WP-BENCOR

BENCOR Special Pay Plan 401(a)

 

 

A mandatory qualified retirement plan, such as BENCOR, is for an employee who is retiring, terminating or entering DROP and has accumulated at least $500 in "Special Pay" (terminal pay, sick leave pay, annual leave, etc.). Features of the Plan include:

 

 

  • 100% vested in all contributions to the Plan, immediately.
  • Income taxes on contributions and the earnings thereon are deferred until withdrawal.
  • Social Security and Medicare taxes are permanently saved on contributions to the Plan.

 

   

BENCOR Plan Description BENCOR Contacts BENCOR Website