Master Agreement 2005 - State Employment Relations Board

Article 804
Annuity Programs
804.01 The Board shall continue toprovidepayroll reductions
from the annual salary of any regular teacher for
any tax deferred annuity which is available from a company
conforming to the Board’s General Policies, Tax
Deferred Annuities, revised April 1975; provided, however,
that no deductions to a company will continue
unless at least ten (10) employees have tax-deferred
annuity deductions for that company. Any tax-deferred
annuity deductions made for employees to a company
with fewer than ten (10) employees as of June 1, 2000,
shall be discontinued when the deduction contract
authorization that is in effect on June 1, 2000, expires or
on June 30, 2001, whichever occurs earlier. Members of
the bargaining unit may change annuity companies or
amounts entirely at the member’s discretion.
804.02 The amount of the salary reduction shall be in conformance
with applicable laws and rules of the Internal
Revenue Service. The amount of the salary reduction
shall be agreed to between the member of the bargaining
unit and the annuity company. The Association and the
member of the bargaining unit shall hold the Board
harmless in regard to the amount of salary reduction,
provided that the reduction is made in accordance with
an amendment to a salary contract signed by the member
of the bargaining unit and a representative of the
annuity company. The Treasurer shall transmit all such
salary reduction funds to the designated companies in
accordance with Section 109.03(I)(5) of this Agreement.
Article 805
Disability Insurance Payroll Deductions
A. The Association will indemnify the Board and
Treasurer against all liability foralldeductions and
for all acts of the insurance carrier made in accordance
and connection with this program.
B. There shall be a maximum of four (4) options available
for election by teachers under this plan.
C. Teachers may not change their status under this program
with regard to enrollment andchangeinoption
more than once every twelve (12) months. Teachers
may enroll or makeachangeinoption on or before
October 15. Such enrollment or change in option
will become effective the following December 1. In
addition, teachers may cancel at any time based on
the payroll deduction schedule; however, they cannot
re-enroll until thefollowingOctober 15.Achangein
the premium rate shall not be considered a change in
status under the program. Any and all such changes,
except cancellation, must be made at the same time.
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