Annual Premium. Premiums will be limited to a minimum of $25.00 per payroll for 24 payrolls, $600.00 annual minimum. If an annual premium is not divisible by 24 to an exact cent, the remaining cents will be waived and will not be deducted or remitted by the Board of Education. No premiums or part thereof shall be used for any purpose other than the purchase of deferred annuity and/or custodial account.
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