Defined Contribution

Miami-Dade County partnered with BENCOR to administer an auto-enrolled 401(a) Special Pay Plan on accumulated, unused sick leave pay initially for non-bargaining eligible employees, as a no-cost important retirement benefit tool.

If you only have the 401(a) Special Pay Plan: For 2024, the IRS limits contributions to the 401(a) Plan on behalf of any participant to the lesser of $69,000 or 100 percent of the participant’s includible compensation for the most recent period counted as a year of service. If a participant’s other current compensation is less than $69,000, a different calculation applies, but a significant portion of special pay still may be contributed to the Plan. Learn more about Special Pay Plan Contribution Limits.