Policy 0802.72 Payroll Deduction Vendors

All vendor/investment providers wishing to participate in West Ada School District payroll deductions will meet the following requirements:

• Any provider will have at least twenty (20) employees with completed applications enrolled in their program.

• Any provider seeking inclusion into the district’s 403(b) Plan Document must meet the terms and conditions therein.

• Once included as a provider, the provider must submit deduction requests to payroll for processing prior to the 8th of the month in order to have funds deducted from that months' payroll.

• A provider’s approval for payroll deduction does not imply the district is endorsing a company or its product. Providers will not use advertising that implies endorsement by the district. Neither is it acceptable to use the names of employees who have enrolled unless written permission is obtained from the employee.

• Any existing provider with enrollment falling below twenty (20) participants will be given the next three (3) pay periods to return to the minimum enrollment (20). All employees with that provider will be notified in writing that the provider will be dropped. If the provider fails to meet the enrollment requirement, the district will stop all deductions and notify the employees that they have the next two (2) pay periods to change to another provider.

• Discontinued providers will wait a minimum of twelve (12) months from the time they are dropped from payroll deduction before they can re-apply as a provider.