Common use of Miscellaneous Payroll Deductions Clause in Contracts

Miscellaneous Payroll Deductions. Upon appropriate written authorization from the employee, the Board shall deduct from the salary of any full-time or part-time employee and make appropriate remittances for insurance, annuities and direct deposit to approved financial institutions. Other plans or programs may be initiated if jointly approved by the Association and The Board. It is expressly understood and agreed that while the Board will offer each employee the opportunity to participate in a Tax-Deferred Annuity Program which complies with Section 403(b) of the Internal Revenue Code, as amended. The Board shall limit the number of carriers or other entities providing such programs to a total of six (6) and that the Board shall not accept responsibility for assuring any employee that any such plan qualifies as per the aforementioned Section 403(b) nor does the Board guarantee or in any way act in a fiduciary capacity with said program, its investments or return thereon.

Miscellaneous Payroll Deductions. Upon appropriate written authorization from the employee, the Board shall deduct from the salary of any full-time full‐time or part-time part‐time employee and make appropriate remittances for insurance, annuities and direct deposit to approved financial institutions. Other plans or programs may be initiated if jointly approved by the Association and The Board. It is expressly understood and agreed that while the Board will offer each employee the opportunity to participate in a Tax-Deferred Tax‐Deferred Annuity Program which complies with Section 403(b) of the Internal Revenue Code, as amended. The Board shall limit the number of carriers or other entities providing such programs to a total of six (6) and that the Board shall not accept responsibility for assuring any employee that any such plan qualifies as per the aforementioned Section 403(b) nor does the Board guarantee or in any way act in a fiduciary capacity with said program, its investments or return thereon.