Common use of Tax Deferred Programs Clause in Contracts

Tax Deferred Programs. The School District will allow appropriate distribution of information regarding available tax deferred investment programs and will make arrangements to allow employees to have deductions made from their pay checks for purposes of such investments. New deductions or changes in existing deductions may be made in any month provided that: 1. Authorization forms are received by the payroll department by the 15th day of the month preceding the month when the deduction is to take effect. 2. The deduction does not violate state and federal tax laws. 3. No employee may contract for annuities with more than 3 companies. 4. The School Districts reserves the right to limit the vendors of tax deferred programs to those who agree to requirements which meet Federal and State compliance regulations for such plans. Vendors will be given a ninety-day notice to produce evidence of such compliance with regulations. At the end of this ninety-day period, the District will discontinue withholding employees' funds and subsequent transfer of funds to vendors not in compliance. The district will offer a non-cafeteria flexible benefits IRS 125 Plan and 457 Plan.

Tax Deferred Programs. The School District will allow appropriate distribution of information regarding available tax deferred investment programs and will make arrangements to allow employees to have deductions made from their pay checks for purposes of such investments. New deductions or changes in existing deductions may be made in any month provided that: 1. Authorization forms are received by the payroll department by the 15th day of the month preceding the month when the deduction is to take effect. 2. The deduction does not violate state and federal tax laws. 3. No employee may contract for annuities with more than 3 three companies. 4. The School Districts reserves the right to limit the vendors of tax deferred programs to those who agree to requirements which meet Federal and State compliance regulations for such plans. Vendors will be given a ninety-day notice to produce evidence of such compliance with regulations. At the end of this ninety-day period, the District will discontinue withholding employees' funds and subsequent transfer of funds to vendors not in compliance. The district will offer a non-cafeteria flexible benefits IRS 125 Plan and 457 Plan.

Tax Deferred Programs. The School District will allow appropriate distribution of information regarding available tax deferred investment programs and will make arrangements to allow employees to have deductions made from their pay checks for purposes of such investments. New deductions or changes in existing deductions may be made in any month provided that:that:‌ 1. Authorization forms are received by the payroll department by the 15th day of the month preceding the month when the deduction is to take effect.effect.‌ 2. The deduction does not violate state and federal tax laws.laws.‌ 3. No employee may contract for annuities with more than 3 companies.three companies.‌ 4. The School Districts reserves the right to limit the vendors of tax deferred programs to those who agree to requirements which meet Federal and State compliance regulations for such plans. Vendors will be given a ninety-day notice to produce evidence of such compliance with regulations. At the end of this ninety-day period, the District will discontinue withholding employees' funds and subsequent transfer of funds to vendors not in compliance. compliance.‌ The district will offer a non-cafeteria flexible benefits IRS 125 Plan and 457 Plan.