It shall be the policy of the Bay de Noc Community College Board of Trustees to authorize the administration to implement the Tax Favored Annuity (403B) program for employees and to authorize the administration to execute such applications and other forms as may be necessary to effectuate the purchase of annuity policies for individual employees pursuant to this program.

Regular full-time employees are eligible for the tax-sheltered annuity, providing they can show that they are covered by an approved health care plan.