Date Adopted: September 15, 1986
Date Revised: May 9, 1988, December 17, 1990
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.
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).
The Superintendent shall develop guidelines and delegate responsibility
to staff for implementation of a tax sheltered annuity and custodial account
These guidelines and their implementation shall be made part of the Financial
Department Directives Manual.
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