j. Contract approval - Laserfiche WebLink

Memorandum 2004-4 Pre-Tax Purchase Employer Agreement March 5, 2004 Page 2 deduction from their pay. Therefore, in order to make this option available, your payroll system would need to be able to accommodate this type of a deduction. The IRS does require strict rules in order to keep the Plan in compliance. If an employer elects to make this option available and an employee elects to utilize it, the monthly pre-tax payroll deduction must continue for the duration of the contract as specified by NDPERS. The amount of the deduction CANNOT be increased, decreased, or suspended at any time unless due to the employee's disability, retirement, termination or death. Therefore, if an employee elects to utilize this option, you will be notified of the amount of the pre-tax deduction to initiate, when it is to begin and also when to cease this deduction. The employee or employer CANNOT change or discontinue the deduction prior to this notification. Also, the employee can not make additional payments or payroll deductions on an after-tax basis towards the purchase contract. NDPERS will provide you, the employer, with a copy of the employee's irrevocable agreement which provides the required information to set-up the deduction. If you do not elect to complete and return the enclosed employer agreement, you will still be able to make this election in the future. However, you will need to contact the NDPERS office to receive information on the process and to ensure that the agreement has not been updated. If you have any questions, please contact the NDPERS office at (800) 803-7377 or (701) 328-3900.