Annuity Programs. The Board shall make available to all employees through payroll deduction, tax deferred annuity programs with companies which qualify and are approved under guidelines and criteria established by the Board.
Annuity Programs. The District shall make available to all employees through payroll deduction, tax deferred annuity programs with companies which qualify and are approved under guidelines and criteria established by the Board.
Annuity Programs. The School District shall maintain a list of approved annuity programs available to teachers as a salary deduction. New or replacement annuity programs shall be considered when five or more district employees request a change.
Annuity Programs. The District shall make available through payroll deduction, tax-deferred annuity programs with companies which qualify and are approved under guidelines and criteria established by the Board.
Annuity Programs. The parties agree that the annuity programs approved by the Board shall be available to each employee.
Annuity Programs. The Board shall make available through payroll deduction, tax deferred annuity programs with companies which qualify and are approved under guidelines and criteria established by the Board.
Annuity Programs. Members may participate in tax sheltered annuity programs offered by the Variable Annuity Life Insurance Company (VALIC) or the Supplemental Annuity Collective Trust of the Division of Pensions of the State of New Jersey or a combination of the Two programs or any other program to be selected by the Association, provided that the payroll system will permit such a deduction. Each member desiring to participate in a tax sheltered annuity program will complete the necessary salary reduction agreement for the plan or plans desired. The total salary reduction shall not exceed the statutorily permitted maximum. Any salary reduction agreement for the plan offered by the Variable Annuity Life Insurance Company or to the Supplemental Annuity Collective Trust.
Annuity Programs. Pursuant to each carrier's rules and regulations and in accordance with the Board's policy and approved companies, individuals may have their gross salary reduced by a given amount. This sum will be deducted from each individual's regular paychecks and such sums will be remitted monthly to the company selected by the individual.
Annuity Programs. The Board shall continue to provide payroll reductions from the annual salary of any regular teacher for any tax deferred annuity which is available from a company conforming to the Board’s General Policies, Tax Deferred Annuities, revised April 1975; provided, however, that no deductions to a company will continue unless at least ten (10) employees have tax-deferred annuity deductions for that company. Any tax-deferred annuity deductions made for employees to a company with fewer than ten (10) employees as of June 1, 2000, shall be discontinued when the deduction contract authorization that is in effect on June 1, 2000, expires or on June 30, 2001, whichever occurs earlier. Members of the bargaining unit may change annuity companies or amounts entirely at the member’s discretion.
Annuity Programs. A. Annuities will be authorized by the Board of Education when:
1. The necessary conditions of the annuities fund have been met;
2. At least three (3) employees request the annuity;
3. The number of companies providing annuities does not exceed five (5);
4. One company shall agree to serve as the collection agency for all companies.
B. Payroll deductions for monthly payments to such annuity programs shall be in equal amounts and deducted from the teacher’s pay. Forms to request such payroll deductions shall be provided to teachers by the Treasurer of the Board. Such deductions shall continue from month to month, year to year, until employment terminates, or the said teacher gives written notice to the Treasurer of the Board requesting such payment to be discontinued.
