Pension Plans

If you are currently using a Service Contract Act wage pension plan, Beneco can assist you by helping to evaluate whether your current Service Contract Act wage plan is allowing you and your employees maximum tax savings as well as reducing administrative costs and investment expenses. The example below shows that the investment is the same but the difference in cost is significant. The cost difference erodes your employees’ retirement savings by thousands of dollars.

Table of savings by paying fringe benefits into Beneco's bona fide plans

The Beneco Basic and Beneco Plus Plans

The Beneco Basic and the Beneco Plus Plans are two retirement plans that provide different benefit options for your company and employees. However, both plans have customizable options with the plan documents and provide Individual Investment Guidance – BeneCoach*** - 24 hours a day, 7 days a week.

  1. Beneco Basic - Contractors contribute Service Contract Act wage fringes.
  2. Beneco Plus - Contractors contribute Service Contract Act wage fringes in addition to non-Service Contract Act wage employees and owners contributing pre-tax and after-tax dollars.
Diagram of savings with Beneco's plans

*Payroll Burden is subject to employer payroll tax, worker's compensation premiums or general liability premiums.

**Taxes may or may not apply depending on contribution type.

***BeneCoach is provided by Beneco Trust Company through the use of computer models. Neither Beneco nor Beneco, Inc. provide, or are responsible for providing, investment advice.