Tax-Free Annuity. The Board agrees to continue to allow covered employees to take advantage of the Federal law concerning tax-free annuities. Deductions for and payments made to new companies require ten (10) or more participants. The maximum number of companies the Board makes payments to will not exceed twenty (20). Employees are responsible for ensuring that all annuity agreements are in full compliance with all legal requirements and with Board policy. The Board shall not be liable for any annuity product. The Board will not deduct life insurance premiums, except for premiums associated with excess coverage under the plan sponsored by the Board.
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Samples: nh.aft.org, www.nh.gov, www.nh.gov
