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.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
