Common use of ANNUITY PROGRAM Clause in Contracts

ANNUITY PROGRAM. Upon authorization of a staff member in writing, the Board shall deduct money from his/her/their pay and remit this money each pay period to a tax-sheltered annuity program the staff member elects. The staff member agrees to save and hold harmless the Board from any and all liabilities of the annuity program incurred as a result of this Article. It is agreed that any member of the staff who wishes to participate in such a plan, who is not already a participant, shall choose a plan from an approved list submitted to the Board by the Union. The list submitted by the Union shall be limited to five (5) plans which may be expanded to a maximum of eight (8) plans provided a minimum of five (5) staff members wish to participate in a plan which is not on the approved list.

ANNUITY PROGRAM. Upon authorization of a staff member in writing, the Board shall deduct money from his/her/their her pay and remit this money each pay period to a tax-sheltered annuity program the staff member elects. The staff member agrees to save and hold harmless the Board from any and all liabilities of the annuity program incurred as a result of this Article. It is agreed that any member of the staff who wishes to participate in such a plan, who is not already a participant, shall choose a plan from an approved list submitted to the Board by the Union. The list submitted by the Union shall be limited to five (5) plans which may be expanded to a maximum of eight (8) plans provided a minimum of five (5) staff members wish to participate in a plan which is not on the approved list.