Tax Shelter Annuities (Policy 2.220)
| Authority: | F.S. 1001.64; Internal Revenue Service Code 403(b); 457(b) |
|---|---|
| Date Adopted: | 6/92; Rev. 12/02, 12/04, 05/09; 09/2013 |
| Date of Review: | 05/09; 08/11; 08/2013 |
Policy:
The Board of Trustees will facilitate the purchase of tax-sheltered annuities by entering into salary reduction agreements with full-time and regular part-time employees, as permitted by Sections 403(b) and 457(b) of the Internal Revenue Code, and remitting appropriate amounts to the providers (companies) of the tax-sheltered plans as designated by the employees.