Option C. Any full time driver not electing Option A or B may choose a payment of $200 per month, to the School District annuity plan of his or her choice. The amount of the cash payment received may be applied by the bargaining unit member to a district approved tax-deferred annuity program. To elect a tax-deferred annuity, the bargaining unit member shall enter into a salary reduction agreement. All costs relating to implementation and administration of benefits under this program shall be borne by the employer.
Appears in 2 contracts
Sources: Letter of Agreement, Letter of Agreement
Option C. Any full time driver not electing Option A or B may choose a payment of $200 per month, to the School District annuity plan of his or her choice. 175.00 The amount of the cash payment received may be applied by the bargaining unit member to a district approved tax-deferred annuity program. To elect a tax-deferred annuity, the bargaining unit member shall enter into a salary reduction agreement. All costs relating to implementation and administration of benefits under this program shall be borne by the employer.
Appears in 1 contract
Sources: Collective Bargaining Agreement