2570 Payroll Deductions

Policy Type: 
Finances

The Board of Trustees authorizes in accordance with the provisions of law cited herein that deductions be made from an employee's paycheck upon proper authorization on the appropriate form for purposes such as the following;

A. Federal and state income tax;

B. Social Security;

C. Public School Employees Retirement System;

D. Michigan Public School Employment Retirement System (MPSERS) Tax Deferred Payment (TDP) Plan;

E. Section 125 deductions (cafeteria plans);

F. U.S. Savings Bonds;

G. Savings in a chartered credit union;

H. Contributions to charitable corporations, not-for-profit and community fund organizations;

I. Payment of dues to labor or other organizations; and

J. Payment of group insurance premiums

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 Payroll Office in writing if they wish to participate in such a program.

M.C.L. 380.1224, 380.1255
Revised 7/26/.99

Adopted Date: 
Monday, July 26, 1999
Revised Date: 
Thursday, June 25, 2015
Private: 
Public
Status: 
Board Approved