ATLANTA PUBLIC SCHOOLS

Committed to the best and the brightest

BENCOR

The Omnibus Budget Reconciliation Act of 1990 (OBRA 90) introduced into law Internal Revenue Code Section 312 (b)(7)(F). As a result, you, as a part-time, seasonal or temporary employee of a government employer, may deposit money into a private retirement plan, instead of Social Security.

Thus, you are not covered under Social Security.

Under the 401(a) FICA Alternative Plan, you contribute 7.5% of your compensation to an account in your name. Any benefits which you have earned under any other retirement plan (as well as social security benefits) will not be reduced by participating in this plan.

Also, if you leave a position covered by this plan for any reason before retirement, you can withdraw the balance of your account, or continue to save the funds for retirement.

BENCOR covered positions include all hourly employees and substitute teachers except retirees of APS and TRS.

BENCOR Administrative Services
8488 Shepherd Farm Drive,
West Chester Ohio, 45069
(513) 671 – 1025
Toll Free 1-888-258-3422