Common use of ANNUITY PROGRAM Clause in Contracts

ANNUITY PROGRAM. A. The Board will match a minimum $600 contribution by the member on a dollar-for-dollar basis up to $1200 for all full-time members (persons regularly scheduled to work at least 30 hours per week). B. The deadline to sign up for the annuity program for a school year in order to receive Board matching amount: 1. An individual already employed: June 15. 2. A new employee: within 30 days of date of hire C. Requests for changes in the amount of contribution or the company contributed to must be done by: 1. June 15 for a change to commence in July contributions 2. December 15 for a change to commence in January contributions 3. March 15 for a change to commence in April contributions D. The Board may limit the number of financial companies participating in the program to the extent permitted by law. E. The Board’s contribution shall be included as earnings for retirement purposes for all bargaining unit members.

ANNUITY PROGRAM. A. The Board will match a minimum $600 contribution by the member on a dollar-for-dollar basis up to $1200 for all full-time members (persons regularly scheduled to work at least 30 35 hours per week). B. The deadline to sign up for the annuity program for a school year in order to receive Board matching amount: 1. An individual already employed: June 15. 2. A new employee: within 30 days of date of hire C. Requests for changes in the amount of contribution or the company contributed to must be done by: 1. June 15 for a change to commence in July contributions 2. December 15 for a change to commence in January contributions 3. March 15 for a change to commence in April contributions D. The Board may limit the number of financial companies participating in the program to the extent permitted by law. E. The Board’s contribution shall be included as earnings for retirement purposes for all bargaining unit members.