610 CMR, § 11.45

Current through Register 1533, October 25, 2024

Section 11.45 - Life and Disability Account

Once received by the Board, up to one percent of the employer's contribution shall be transferred by the Board from the Optional Retirement Program Trust Fund to individual Life and Disability Accounts at an Insurer in proportion to each member's regular compensation for that pay period.

(1) An accounting shall be made by the Board of the individual and total amounts transferred to the Insurer.

(2) A monthly report shall be issued by the Board detailing the amounts transferred by the Board to individual Life and Disability Accounts at the Insurer.

610 CMR, § 11.45