What Is A Salary Redirection Agreement

. The amount of this deviation is set in the salary transfer agreement and is valid for a planned year. Notwithstanding the above provisions, the salary transfer agreement only applies to new members from the first day of the salary period following the employee`s entry date to the last day of the year of the included plan. An eligible staff member must enter into an agreement on the transfer of salaries during the election period of the planned year in which they wish to participate in this plan. The amount of this reallocation is set in the agreement on the redistribution of wages and is valid for a planned year. However, a participant may revoke a benefit choice or conversion agreement after the start of the plan year and re-elect the rest of the plan year if the revocation and re-election result to a change in status and other eligible events pursuant to Section V of the plan and in accordance with The Department of Finance`s rules and regulations.