The board authorizes the administration to make a payroll deduction for classified employees' tax-sheltered annuity premiums purchased from any company authorized by Iowa law.
Classified employees wishing to have payroll deductions for tax sheltered annuities will make a written request to the superintendent.
Legal Reference:
Small Business Job Protection Act of 1996, Section 1450(a), repealing portions of IRS REG § 1.403(b)-1(b)(3). Iowa Code § 294.16. 1988 Op. Att'y Gen. 38. 1976 Op. Att'y Gen. 462,
602. 1966 Op. Att'y Gen. 211, 220.
Cross Reference:
706 Payroll Procedures
Approved 9-20-04 Reviewed 6-18-07 7-17-12 1-28-19 Revised 1-28-19