Annuity Deductions Procedure Clause Samples

Annuity Deductions Procedure. 1. Written Authorization — Upon receipt of the written authorization of an employee, the School Corporation shall deduct the amount designated by the employee for annuity payments and remit that amount to the employee's designated annuity provider. The School Corporation shall make designated deductions for tax sheltered annuities to new companies who have qualified for payroll deductions in accord with IC 20-28-9-18 Existing companies shall be grand fathered deductions as long as authorized deductions remain in force.