Section 125 Plans. Tax forms and the Xxxxxx School Employees Credit Union deductions can be changed once each month. Deductions for Tax Sheltered Annuities can be changed once each quarter, provided all necessary paperwork is submitted to the Treasurer’s office no later than the 15th of the month preceding the start of the next quarter (September 15 for 4th quarter, December 15th for 1st quarter, March 15th for 2nd quarter, and June 15th for 3rd quarter. Tax Sheltered Annuity Payroll deduction for a new carrier shall require participation by no fewer than three (3) persons employed by the Board. FCPE Contribution forms must be submitted to the Treasurer’s Office no later than November 1 and deductions will commence with the first pay in January.
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