Salary Reduction Agreement. Each employee wishing to participate in the program must execute a Salary Reduction Agreement, thereby reducing the annual salary and authorizing the amount of reduction to be used to purchase an annuity and/or custodial account. There are three copies of each Agreement, to be filed accordingly: Blue – Treasurer; White – Insurance or Investment Company; Pink – Employee. Each Agreement must be submitted to the Treasurer for processing. Upon completion, the white copy will be forwarded to the company and/or its representative.
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