1. Before a company dealing in tax sheltered annuities can be approved to solicit employees of Weber School District to enroll in the company's tax sheltered annuity plans, they must file with the Business Administrator an affidavit, signed by an officer of the company, assuring the District that the company's plan complies with all applicable provisions of the Internal Revenue Code and that the company's plan will be updated when necessary to comply with any changes that may be made to the Internal Revenue Code in the future.
   
   
2. After the Business Administrator has received the affidavit, the company will be notified in writing of their acceptance to contact Weber School District employees.
   
   
3. The annuity company must have written interest from 25 or more employees before they will be given the privilege of employee payroll deduction.
   
   
4. In order to maintain the privilege of employee payroll deduction, a company must maintain 20 employees actively participating in their plan.
   
   
5. In the event a company does not comply with the requirements in Section 4, any employee who has authorized an annuity amount to be deducted from their district pay can continue to participate with the company until the employee elects, in writing, to cancel the deduction.
   
   
6. A company may be reinstated with the privilege of payroll deduction by adding enough employees to have 20 active participants. In this event, the original affidavit signed under Section 1 would still be in effect.
   
   
7. The Board of Education and District Administration will not endorse any specific plan as to the investment suitability for Weber District employees. It is each employee's responsibility to determine if a specific plan is suitable for their own use in consultation with individual sales people. This consultation would include, but not be limited to, the following: sales commission, earning rates, redemption values, the financial stability of the annuity companies, and any other relevant information outlined in the investment prospectus provided by the annuity company.

Approved by the Board 05/1989