RESOLVED: That, considering the savings in administrative costs that will be generated in the implementation of this program, the Board APPROVE, as it does hereby, APPROVE the recommendation to grant extra remuneration at the rate of P10.00 per line (per member) to personnel of agencies involved in the preparation of the payroll who will adopt the GSIS remittance format/layout.

Once approved, the Corporate Finance Group shall be responsible for administering this incentive program, while the Corporate Planning Services shall formulate the guidelines and procedures for its administration.

RESOLVED FURTHER, to APPROPRIATE the amount necessary for the purpose, chargeable against proper Funds.

Adopted: 8 Jan. 2003 (Board Meeting No. 1)