Annuity Deduction. The Treasurer is authorized, on the request and authorization of employees, to withhold portions of salaries due such employees and to purchase annuity insurance therewith for such requesting employees. a. That the Treasurer of this Board of Education, on the written request and authorization of any teaching or non-teaching employee of this Board of Education, be, and the Treasurer is hereby authorized and directed to make such salary reductions from the salaries of the employees so requesting and authorizing the same, and with the salary reductions so made, to enter into contracts providing for the purchase of annuity insurance on behalf of such requesting employees. b. The Treasurer of this Board is further authorized and directed to adopt such procedure in carrying out the provisions of Section 1 of this resolution as he may from time to time determine, and said Treasurer is further authorized and directed to do and perform any and all incidental acts and things as shall be necessary and proper to carry out the intent of this resolution. c. The Board reserves the right to limit the number of companies with which the Treasurer may contract on behalf of employees of this Board, should such action at any time in the future be deemed expedient.
Appears in 5 contracts
Samples: Negotiated Agreement, Negotiated Agreement, Negotiated Agreement
