Superior School District
Bylaws & Policies
 

6520 - PAYROLL DEDUCTIONS

The Board of Education directs the District Administrator to ensure that deductions are made from an employee’s paycheck as required by law (e.g., State and Federal withholding and employment taxes). The Board also authorizes payroll deductions for the Wisconsin Retirement System (Voluntary Additional Contribution)

The Board declares its willingness to enter into an agreement with any of its employees whereby the employee agrees to take a reduction in salary with respect to amounts earned after the effective date of such agreement in return for the Board's agreement to use a corresponding amount to purchase an annuity for such employee (or group of employees desiring the same annuity company) from any company authorized to transact the business as specified in law in accordance with Section 403(b) of the Internal Revenue Code, and in accordance with the District's administrative guidelines. However, it shall be clearly understood that the Board's only function shall be the deduction and remittance of employee funds.

Said agreement shall comply with all of the provisions of law and may be terminated as said law provides upon notice in writing by either party. Employees shall notify the Superintendent's Office in writing if they wish to participate in such a program.

Revised 3/7/05