GCBC/GDBC: Insurance and Associated Payroll Costs
Code: GCBC/GDBC
Adopted: 1/04/07
Readopted: 10/14/10
Orig. Code(s): GCBC/GDBC
Group Health Insurance
The board may contribute toward insurance premiums for district employees. Such insurance will be provided in compliance with any current collective bargaining contract, board policy and state and federal law.
Non 12-month employees eligible for insurance benefits at the close of the school year will be considered eligible during the interim period prior to the new school year.
Employees must have a minimum of 10 paid days in a calendar month in order to qualify for district paid insurance benefits in a subsequent calendar month.
Worker Compensation Insurance Fund
The district will enroll all employees in a workers compensation fund.
Tax Sheltered Annuities
1. Operational Requirements
New contracts must be submitted to the district by the fifth of each month for deductions to be made at the end of the same month.
Companies must have a minimum of five years’ experience marketing TSA agreements and must have a local office in the Portland metropolitan area to serve the needs of district employees.
2. Minimum Participation Requirements
Companies must have a minimum of 25 applications before deductions will be made. Current carriers who qualify under all other regulations will continue to have deductions made on existing contracts, but no new contracts will be accepted until the total of 25 has been attained. If participation in a qualifying company drops to fewer than five members, no further withholding will be allowed.
3. Product Requirement
Companies must verify that their TSA contracts qualify as described in Section 403(b) of the Internal Revenue Service Code.
Companies must offer fixed contracts and are strongly encouraged to also offer variable or flexible contracts to the District employees.
Life insurance is not to be included as part of the annuity contract.
Deferred compensation is not to be included as part of the annuity contract.
Deferred Compensation
Only those deferred compensation plans selected and approved by the district shall be available to eligible employees. No other deferred compensation plans shall be available.
Uninsured Private Property
The district may assume the cost of items destroyed by fire, theft or vandalism when in the custody of the school, provided the loss was not otherwise insured, the property owner had written approval by an administrator to have the personal property in the building and is within the limits of the district’s property insurance policy and the items were in the district’s custody for legitimate operational purposes. Group Dental Insurance
The district offers a program for a group dental insurance plan for all full-time employees.
Income Replacement
The district offers a program of income replacement plans on a payroll deduction basis for all full-time employees.
Unemployment Insurance
The district is, as are all Oregon school districts, included in the state unemployment insurance program. No deduction is made from the employee’s salary.
END OF POLICY
Legal Reference(s):
ORS 332.507
Consolidated Omnibus Budget Reconciliation Act of 1985, 29 U.S.C. §§ 1161-1169 (2006).
Employee Retirement Income Security Act of 1974, 29 U.S. C. §§ 1001-1461.
Tanner v. OHSU, 157 Or. App. 502 (1998).
