| Valders Area 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 following purposes:
| A. | Wisconsin Retirement System (Standard Contribution) | |
| B. | Section 125 deductions (cafeteria plans) and IRAs | |
| C. | savings in a chartered credit union | |
| D. | payment of dues to labor or other organizations | |
| E. | payment of group insurance premiums for a plan in which District employees participate | |
| F. | payment for benefits of part-time employees who elect to participate in benefits provided to full-time staff |
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 District Administrator's Office in writing if they wish to participate in such a program.
© Neola 2004