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Tax Shelter Annuities - Policy 2.220


Authority:Internal Revenue Service Code 403(b) Internal Revenue Service Code 457(b)
Date Adopted:6/92; Rev. 12/02
Policy:

The Board of Trustees will facilitate the purchase of tax shelter annuities by entering into salary reduction agreements with full-time and regular part-time employees, as permitted by Section 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.
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