Common use of Annuity Plan Clause in Contracts

Annuity Plan. The School Committee agrees to enter into a written agreement with any of the members of the employee unit to purchase an individual or group annuity contract for such employee or employees, said transaction to be handled in accordance with the terms and provisions of Massachusetts General Laws, Chapter 71, Section 37B and the policies of the Fitchburg City Treasurer. The current policy allows payroll deduction for one annuity company per person. Employees must be enrolled in a specific annuity in order for it to qualify for payroll deduction

Annuity Plan. 24-9 The School Committee agrees to enter into a written agreement with any of the members of the employee unit to purchase (either directly or through a third party) an individual or group annuity contract for such employee or employees, said transaction to be handled by the Town Treasurer in accordance with the terms and provisions of Massachusetts General Laws, Chapter 71, Section 37B and the policies 37B. Discontinuation of the Fitchburg City Treasurer. The current policy allows payroll deduction for one annuity company per person. Employees must be enrolled in a specific annuity in order for it to qualify for payroll deductionPayroll Deductions