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Commission approves BenCor plan to hold employees' unused leave in retirement account; non‑bargaining employees enrolled automatically
Summary
The commission voted to adopt a BenCor 401(a) plan that will receive payouts of unused leave when employees separate from county service; the plan is mandatory for participating non‑bargaining employees and allows rollovers or immediate withdrawal options at separation.
Miami‑Dade County commissioners on Feb. 11 approved a BenCor 401(a) plan to receive and hold employees’ accrued unused leave (for example, vacation or sick leave) when employees separate from county service.
Supporters said the plan gives employees a tax‑advantaged option to defer taxes on lump‑sum leave payouts, and it also produces long‑term federal tax savings for the county. Under the approved motion, non‑bargaining employees will be included in the plan automatically (the item applies immediately to non‑bargaining staff), and these funds…
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