Date Adopted: September 15, 1986
Date Revised: May 9, 1988, December 17, 1990
1. Purpose
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The Board of Education shall continue to make available to the employees
of the School District financial opportunities made possible by statuary
and judicial action.
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The maximum number of approved carriers authorized to receive payments
from employees shall be established by the Board of Education (see Board
Resolution May 9, 1988).
2. Authority
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The Superintendent shall develop guidelines and delegate responsibility
to staff for implementation of a tax sheltered annuity and custodial account
program.
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These guidelines and their implementation shall be made part of the Financial
Department Directives Manual.
References:
24 P.S. S5-518 (1986 supp.), I.R.S. Code 1954 SS 403(b), 415 Amended
by 26 U.S.C.A. SS 403(b) and 415 (West Supp. 1986) and the Treasury Regulations
26 C.F.R. SS 1.403(b)-1 et seq., SS 115-1 et seq. 1986
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