Your funds are sent to Bencor following each pay date. Once the monies are received at Bencor, you have (3) options: allow Bencor to administer the monies on your behalf, have the funds rolled into another retirement type plan or have the funds distributed directly to you. If you elect to have the funds distributed to you, the money will be subject to the standard IRS withholding rate of 20%. If you are under age 55, you will also be charged a 10% IRS penalty for early withdrawal. (If you are subject to this penalty, please contact Payroll directly for more information on how to be reimbursed a portion of this penalty). To request distribution, you must contact Bencor directly at 1-866-296-9712.