ANNUITY PROGRAM. A. The Board will match a minimum $600 contribution by the member on a dollar-for-dollar basis up to $1200 for all full-time members (persons regularly scheduled to work at least 30 hours per week).
B. The deadline to sign up for the annuity program for a school year in order to receive Board matching amount:
1. An individual already employed: June 15.
2. A new employee: within 30 days of date of hire
C. Requests for changes in the amount of contribution or the company contributed to must be done by:
1. June 15 for a change to commence in July contributions
2. December 15 for a change to commence in January contributions
3. March 15 for a change to commence in April contributions
D. The Board may limit the number of financial companies participating in the program to the extent permitted by law.
E. The Board’s contribution shall be included as earnings for retirement purposes for all bargaining unit members.
ANNUITY PROGRAM. A. For employees hired prior to July 1, 1997, the Board will match a minimum $600 contribution by the bus driver/aide with $300. If the bus driver/aide contributes more than $600, the Board will match the amount over $600 on a dollar-for-dollar basis up to a total Board contribution of $1,200. Employees hired on or after July 1, 1997 may participate in the annuity program but shall not be eligible for a Board match.
B. The deadline to sign up for the annuity program for a school year in order to receive Board matching amount is August 15.
C. Requests for changes in the amount of contribution or the company contributed to must be done by:
1. August 15 for a change to commence in September contributions.
2. December 15 for a change to commence in January contributions.
3. March 15 for a change to commence in April contributions.
D. The Board may limit the number of financial companies participating in the program to the extent permitted by law.
E. The Board’s contribution shall be included as earnings for retirement purposes for all bargaining unit members.
ANNUITY PROGRAM. Upon authorization of an employee in writing, the Board must deduct money from his/her/their pay and remit this money each pay period to a tax‐sheltered annuity program the employee elects. The employee agrees to save and hold harmless the Board from any and all liabilities of the annuity program incurred as a result of this paragraph. It is agreed that any member of the staff who wishes to participate in such a plan shall choose a plan from an approved list submitted to the Board by the Union. The list submitted by the Union shall be limited to five (5) plans which may be expanded to a maximum of eight (8) plans provided a minimum of five (5) employees wish to participate in a plan which is not on the approved list.
ANNUITY PROGRAM. Full-time and part-time employees of the District may make payroll deductions to District approved tax-deferred annuity programs.
ANNUITY PROGRAM. 12 (a) The Employer shall pay into the Boilermakers
ANNUITY PROGRAM. Upon authorization of a staff member in writing, the Board shall deduct money from his/her/their pay and remit this money each pay period to a tax-sheltered annuity program the staff member elects. The staff member agrees to save and hold harmless the Board from any and all liabilities of the annuity program incurred as a result of this Article. It is agreed that any member of the staff who wishes to participate in such a plan, who is not already a participant, shall choose a plan from an approved list submitted to the Board by the Union. The list submitted by the Union shall be limited to five (5) plans which may be expanded to a maximum of eight (8) plans provided a minimum of five (5) staff members wish to participate in a plan which is not on the approved list.
ANNUITY PROGRAM. The District shall contribute seven percent (7%) of a qualifying unit member’s annual base salary to the Annuity Program on behalf of the individual unit member, after the unit member has met the vesting requirement and worked for the District for five (5) full years in regular paid status of four (4) hours or more per day, beginning with the unit member’s first probationary date. Unit members may receive the appropriate contribution in their individual Annuity Program account, in accordance with the provisions of the plan, upon termination of employment or upon permanent disability. The District agrees to maintain the Board of Trustees for this bargaining unit for the life of this Agreement. This Board of Trustees shall be composed of five members, three appointed by OSEA/SEIU 1021 and two appointed by the District.
ANNUITY PROGRAM. Art. 23
(a) It is agreed that contributions will be paid to the Boilermaker National Annuity Trust the sum outlined in Article 14 for all straight-time hours worked, and at the applicable overtime rate for overtime hours worked by all employees covered by this Agreement.
(b) The Contractor agrees to and shall be bound by the Trust Agreement creating the Boilermakers National Annuity Trust and all amendments now or hereafter approved by the Board of Trustees, said Agreement and amendments are incorporated by reference and made a part of this Agreement as if affixed hereto.
ANNUITY PROGRAM. The Board shall sponsor a tax deferred annuity program of the Association's choice. Teachers may choose to participate in such tax-deferred annuity program via payroll deductions.
ANNUITY PROGRAM. 4.4.1 The District will provide members with the opportunity, pursuant to Section 3109 of the New York State Education Law, to enter into written agreements for salary reductions for the purpose of purchasing annuities or custodial accounts. Changes may be made at any time with 30 calendar days notice to the District unless otherwise prohibited by law or Internal Revenue Code.
