BENCOR/FICA Alternative Plan
401(a) FICA Alternative Plan
Eligible temporary, or OPS, employees who are not exempt from Social Security taxes participate in the FICA Alternative Plan through Bencor. Employees are automatically enrolled and un-enrolled based on their salary plan status. Participants contribute 7.5% of their wages into a 401(a) investment account instead of paying social security payroll taxes. The account is portable upon separation from the University or entering a position covered by the State of Florida Retirement program.