Business ProfileforBencor, L.L.C.

BenCor administers a **** replacement for Substitute teachers. It is a pension plan for school districts that avoid paying social security by creating a unusual plan. The **** Alternative Plan is a defined contribution plan authorized under Section 401(a) of the Internal Revenue Code. Employees in certain temporary positions are mandated to participate in lieu of earning credit for Social Security. Participants contribute ~****% of their wages. The bad news is by enrolling in a **** Replacement plan I believe you can actually cause a decline in your social security payments if you do not have the full 30 years of social security. How awful is that?Getting back to BenCor and my complaint. BenCor failed to send statements. They set their system to online statements. Then Bencor started a monthly fee after there were no more contributions. The fee became $2 a month. My complaint is: I was never notified of commencement of such fees and BenCor did not spend the cost of a postage stamp to notify me. I think Bencor could do a much better job with this class of customers. School Districts don't do benefits administration for this class of employees. There is no exit conference. There are no notifications. Obviously a part time substitute will not have the same school email address when they no longer work. I would expect the Government Regulations or common decency would encourage a business in the business of retirement duns management to spend a measly postage stamp before commencing on charging two dollars a month in service fees. My account barely had $140 dollars. They started selling my assets and assessed $34 in fees. By the time they assessed ~23 months of fees, I now have $104.BenCor should send out a written notice before they commence fees. If they can program their computers to start charging fees, they can program it to send an annual notice. I feel this "Contact by the Business" should be done for the entire class, not just myself. Thanks!.