Accessibility Navigation:

Retiree Insurance Bank Draft Policy


In some circumstances, Davidson College offers insurance coverage to employees who have entered retirement. The college seeks to offer convenient options to facilitate payment.


This policy seeks to inform retired employees of the option of paying for insurance premiums via automatic bank draft.


Retired employees of the college may choose to pay their insurance premiums via automatic bank draft.

Administration of Policy

The Controller/Director of Business Services shall oversee this policy and review it at least once every two years. Changes to this policy shall be made in accordance with the college’s Policy on Policies.

The staff assistant provides the cashier a monthly report containing the customer names, ID numbers, and amount of insurance premium that was drafted on or after the 15th of the month.

The Office of Business Services shall observe the following procedures as retiree insurance premium payments paid via automatic bank draft are processed:

Payments are entered on the individuals’ accounts as follows:

  2. Enter detail code DRAF
  3. Ctl+page down
  4. Enter Customer I.D. number
  5. Enter twice
  6. Atyp. and Sequence are preset
  7. Enter $ amount of draft item
  8. Arrow down for next Entry
  9. Total of all entries will appear in the ‘Charge/Payment Total’
  10. This total should be the same as the Automatic Bank Draft Total
  11. Save F10
  12. Printing process is same as Customer/Student Payments