If saving money interests you then you might want to take advantage of either or both of the opportunities listed below:

• FLEX 125 PLAN – This provision of the tax code allows you to participate in the Health Care Flexible Spending Account and/or the Dependent Care Spending Account. In either case, you can pay for unreimbursed medical expenses or eligible child-care or elder-care with pre-tax dollars. To take advantage of the Flex 125 Plan you must complete the election forms and return them to the personnel office by November 30th. Participants in the Flex 125 Plan should take extra care when determining the dollar amount that they wish to have placed in the plan because at the end of the plan year (12/31/06) any money placed in the plan that remains unused is forfeited.

• TAX-DEFERRED ANNUITY (403(b)) – TDA’s are voluntary pre-tax savings and investment programs that are available in more than 630 public school districts in New York State. Employees of public schools can use a 403(b) program to save money before taxes and to accumulate those savings on a tax-deferred basis. In many ways, 403(b) programs parallel 401(k) plans that are available to private employers. If you wish to start a TDA you must consult with one of the nearly 2 dozen investment groups that have entered into a contract with the school district. To see a complete list of participating investment groups you should contact your senior building rep. NYSUT Member Benefits has examined many groups that offer 403(b) programs and at this time they endorse the Opportunity Plus program offered through ING.