11.21 Payment of Non-Contracted Monies for Retiring Employees

The Board of Education is committed to optimizing monetary benefits for district retirees. The Board participates in an Employer Directed 403(b) Plan. Retirees age 55 and older who are owed from the Board of Education non-contracted benefit pay upon retirement which exceeds $1,000 will have these monies paid into the employer directed 403(b) instead of through normal payroll procedures. Those retirees owed less than $1,000 will be paid through the normal payroll process.

Broken Arrow Board of Education
Approved November 4, 2002