I authorize Prairie View A&M University to reduce the net amount of my paycheck by the amount shown above, for each of the nine months of September through May. I authorize Prairie View A&M University to hold these funds for the purpose of distributing the balance to me in three equal payments in June, July and August. I understand that participation in this plan is not an extension of my employment contract.
I understand that having an employment period of less than twelve months is a requirement for my participation in the Plan. I understand that all deductions and federal income tax withholding will be taken on a monthly basis when earned. I recognize my participation in the Plan begins with the first available monthly pay date after I file a properly completed enrollment form with my payroll office, and there are no catch-up provisions for ant expired portion of the fiscal year.
I understand that I will not receive any interest earnings for these funds.
I understand that I may stop my participation at any time, and may elect to receive disbursement on the next available monthly pay date. I recognize that following cancellation, I may not participate in the Plan again until the next fiscal year.