Policy - DLB

POLICY: DLB

EFFECTIVE DATE: 5/1/96

CANCELS SHEET DATED: 10/3/90 (DLBA)

REVIEWED BY POLICY COMMITTEE: 6/25/03

 

 

 

MANAGEMENT OF STAFF FUNDS

 

TAX SHELTERED ANNUITIES

 

 

In order to treat all interested parties fairly, the Board sets the following requirements for companies that wish to participate in the tax-sheltered annuity program for authorized employees:

 

1.) Annuity contracts will be accepted for payroll deduction semi-annually by the last Friday in September and the last Friday in February.

 

2.) A minimum of three (3) applications from three (3) different employees will be required before a company is accepted as an authorized company.

 

3.) There will be a set up fee of $75, which is to be paid by the company.

 

4.) Transfers will be handled on an individual basis.

 

5.) Soliciting of accounts is not permitted on school time.