Code of Massachusetts Regulations
610 CMR - BOARD OF HIGHER EDUCATION
Title 610 CMR 11.00 - Optional Retirement Program
Section 11.45 - Life and Disability Account
Universal Citation: 610 MA Code of Regs 610.11
Current through Register 1531, September 27, 2024
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.
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