Tax Sheltered Annuity Program. Part-time faculty shall be permitted to participate in the tax-sheltered annuity program to the extent allowable by law and District procedures.
Tax Sheltered Annuity Program. The Board agrees to continue withholding payments from teachers participating in the tax-sheltered annuity program.
Tax Sheltered Annuity Program a. The Board shall make available to all teachers of the Merrillville Community School Corporation, a tax-sheltered annuity program.
b. Section 125 Plan Pursuant to Section 125 of the U.S. Internal Revenue Code the Board will provide a Flexible Benefit Spending Plan. This Flexible Benefit Spending Plan allows a teacher to convert his/her contribution toward the group hospitalization, major medical, dental and vision plans to pre-tax dollars. In addition, this Flexible Benefits Spending Plan allows some unreimbursed medical and dependent daycare expenses to also be converted to pre- tax dollars. The costs of the administration of this plan, if any, will be subject to negotiation. (See also Section 11.1)
Tax Sheltered Annuity Program. All members of the bargaining unit shall be eligible to participate in the 403(b) tax-sheltered annuity program in accordance with regulations and procedures as established by the California State University and according to IRS regulations.
Tax Sheltered Annuity Program. The Employer shall make available to all bargaining unit employees an approved tax sheltered annuity program. The Employer shall provide no less than five (5) vendors to provide the tax sheltered annuity service. Each employee shall notify the appropriate administrator of their designation of vendor.
Tax Sheltered Annuity Program. The District will take payroll deductions and make annuity premium payments as requested by the faculty member for participation in tax sheltered annuity programs.
Tax Sheltered Annuity Program. Tax-sheltered Annuity Programs include 403(b), 403(b) Xxxx, and 457(b) programs. Contributions to any or all of these programs will be through payroll deduction.
Tax Sheltered Annuity Program. 1. When the Employee wishes to obtain the benefits of Section 403(b) of the Internal Revenue Code (IRC) of 1986, as amended, by participating in an annuity purchase program of the Employer; the annual rate of salary otherwise payable to the Employee shall be reduced and will be applied to the purchase of a nonforfeitable annuity contract for the Employee. It is understood and agreed that such annuity is to be purchased at the request of the Employee under a program adopted by the Employer and that the Employee hereby accepts the provisions of that program, and that the Employer does not guarantee such annuity.
2. A salary reduction agreement between the parties to this agreement may not be made more than one time during any taxable year of the Employee.
3. The Employee releases all rights, present and future, to receive any or all the amounts to be used by the Employer as premium payments in any other form.
4. No provision of this agreement shall affect the Employer's right to discharge the Employee, with or without cause.
5. The employee acknowledges that if his/her contributions to Code Section 403(b) tax - sheltered annuity accounts exceed the IRC Limits, the excess is currently treated as taxable income. The employee shall be responsible for the payment of any additional income taxes, employment taxes, excise taxes, penalties and/or interest. The IRC limits are the limitations imposed under Internal Revenue Sections 403(b), 402(g), 415 and any other limitations that may be imposed under the IRC. The Board shall require the Provider to calculate the limit of the employee contribution.
6. The Board shall require the Provider of a tax sheltered annuity or deferred compensation plan that meets the requirements of Internal Revenue Code (IRC) Section 403 (b), Ohio Revised Code 9.91 and Board Policy, to agree to defend, indemnify and hold harmless the Board of Education, all of its members, officers, employees and agents from and against all claims, suits, liability, expenses, damages and loss of any kind to any person including attorney fees, which may arise out of the offering, implementation, and administration of an annuity provided by the Provider's agents, employees or any other person acting on the Provider's behalf.
7. The Board shall require that the provider agree to accept responsibility for all costs, expenses, fees and any damages incurred by the Board and/or the annuitant in connection with the implementation, administration and total operation ...
Tax Sheltered Annuity Program. The Tax sheltered annuity program shall continue in effect at the Hospital.
Tax Sheltered Annuity Program. The Employer shall make available to all permanent craft employees at least one (1) tax-sheltered annuity carrier.
