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What is TERP?

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What is TERP?

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The Temporary Employee Retirement Plan is a defined contribution plan authorized under Section 401(a) of the Internal Revenue Code. BENCOR, Inc. is the plan administrator for the University of South Florida. U.S. Bank is the trustee and handles all deposits into and distributions of the plan for the University and BENCOR. General information is available on the HR website at the following link: http://usfweb2.usf.edu/HR/Benefits/TERP/TERPmain.

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