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406.6 Licensed Employee Tax Shelter Programs

The board authorizes the superintendent & business manager to make a payroll deduction for licensed employees' tax-sheltered annuity premiums purchased from any company authorized by Iowa law.

 

Licensed 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 §§ 20.9; 260C; 273; 294.16 (2003). 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 11-17-03      Reviewed    6-18-07       8-21-12  1-28-19      Revised  1-28-19