Tax Sheltered Accounts. This describes the current system of fringe benefits but is subject to change with notice. The cost of required deductions and choice/cost of health, dental, life, disability, or other insurance may change from year to year. Management will notify the Union when changes in benefit coverage, costs or availability are contemplated or pending. It is agreed that the parties will meet to bargain about the impact if any, of the contemplated changes as early as April. Due to the mutual concerns and mutual need to finalize and accomplish any such contemplated changes normally in a limited period of time, any such meetings will not exceed six (6) meetings within a maximum of sixty (60) day limited time period.
Tax Sheltered Accounts. Upon written request of the employee, and in accordance with applicable law, salary deductions shall be made for tax sheltered accounts. The employee is responsible for determining that the total annual salary reduction amount does not exceed the maximum amount which may be sheltered under the applicable law. Furthermore, the employee agrees to indemnify and hold the Board harmless against any and all action, claims and demands that may arise from the purchase of annuities and/or custodial accounts for employees. Salary reduction amounts shall be contributed on the employee’s behalf into the annuity and/or custodial account selected by the employee within five (5) working days following each pay period with a written record of the amount provided to the employee.
Tax Sheltered Accounts. 1. The School District adopts plans for tax sheltered accounts for its employees. The President of the Board and the business manager are appointed and authorized to carry out such plans and to enter into such agreements as may be necessary for such purpose. Provided, however, that by the adoption of said plan the Board makes no warranty to employees participating therein and assumes no responsibility to employees that the amounts contributed or paid for any account for said employee shall be excluded from the gross income of the employee for federal income tax purposes.
Tax Sheltered Accounts. Employees covered by this Agreement shall be eligible for any tax-sheltered dependent care, health care, or other tax sheltered accounts for employees' payroll deduction use that are provided by the Employer.
Tax Sheltered Accounts. The Board shall transmit tax sheltered account funds on behalf of its employees pursuant to current state and federal laws and regulations. Employees may request separate salary reduction agreement for the purpose of contributing to a tax sheltered account. The employees may sign up for a tax-sheltered account at any time through out the year. Once established employees will only be allowed to adjust their contributions each school year by giving notice to the Clerk of the Board before October 1.
Tax Sheltered Accounts. Upon written request of the employee, and in accordance with applicable law, salary deductions shall be made for tax sheltered accounts. The employee is responsible for determining that the total annual salary reduction amount does not exceed the maximum amount which may be sheltered under the applicable law. Furthermore, the employee agrees to indemnify and hold the Board harmless against any and all action, claims and demands that may arise from the purchase of annuities and/or custodial accounts for employees. Salary reduction amounts shall be contributed on the employee’s behalf into the annuity and/or custodial account selected by the employee within five (5) working days following each pay period with a written record of the amount provided to the employee. 5.16 Employees whose work year is less than twelve (12) months may elect to receive their annual salary paid over ten (10) or twelve (12) months. This election will be made annually. Twelve (12) month employees will continue to receive their annual salary over the 12-month work year.
Tax Sheltered Accounts. 1. The Employer will make deductions for tax sheltered accounts (TSA) as heretofore, but the Employer may require that no more than four plans be available for this purpose.
