(1) After the adoption of an expense reimbursement plan by the Public Employees’ Benefit Board, and prior to the effective date of the plan, the state shall enter into a compensation reduction agreement with eligible employees electing to participate in the plan for the purpose of funding reimbursements under the plan.
(2) The payroll disbursing officer is authorized, upon the enrollment of an eligible employee in the plan, to reduce each pay period the compensation of the eligible employee by the amount specified in the compensation reduction agreement. The payroll disbursing officer may pay that amount to the account administrator as designated by the board. All interest income shall be credited to the account. [1987 c.621 §4; 1989 c.160 §2; 1997 c.222 §49]
Note: See note under 243.550.Section: Previous 243.520 243.530 243.540 243.550 243.555 243.560 243.565 243.570 243.575 243.580 243.585 243.610 243.620 243.650 243.656 Next
Last modified: August 7, 2008