ANNUITY CONTRIBUTIONS. The number of annuity programs available through payroll deductions will be limited to no more than seven (7) and the minimum number of participants enrolled for any new program will be five (5) employees. (See Letter of Agreement) Any member hired after June 30, 2010 will be required to make annuity contributions to one of the Michigan Retirement Investment Consortium core vendors. The Board and the Association recognize the importance of each employee pursuing an active retirement savings program and in providing sound investment alternatives to assist them in achieving their retirement savings goal. The parties agree that MEA Financial Services Products, along with any other mutually selected investment providers shall be named as vendor(s) in the 403(B) plan document as appropriate under IRS regulations.
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