Additional Voluntary Contributions
In addition to basic contributions, an employee can make additional voluntary contributions (AVCs). These are contributions over and above the required basic contributions.
You as the employer can also make AVCs on behalf of an employee. AVCs are deposited in the employee’s existing member account.
The employee should complete Additional Voluntary Contribution Form and submit it to you. You, in turn, should make a copy for your files and send the original to the client services agent. You should also begin deducting the specified contributions from the employee’s pay, starting with the next full pay period. |
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