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