The College will provide payroll deductions for tax-sheltered annuities upon the request of the employee. Personnel who have tax-sheltered annuities and are employed by two-year institutions under the control of the Board may upon request transfer their annuities from one institution to another. All insurance companies domiciled in the State and all companies represented in the State may be approved by the President with the approval of the Chancellor. A list of companies currently offering tax-sheltered annuity plans at Bevill State Community College may be obtained from the Payroll Office. A minimum of twenty-five (25) employees is required to establish a payroll deduction for a company.