412.4 - Classified Employee Tax Shelter Programs

The board authorizes the administration to make a payroll deduction for classified employees' tax sheltered annuity premiums purchased from a company or program chosen by the board and collective bargaining units.

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 §§ 20.9; 260C; 273; 294.16 (2009).
                                       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 09/11/95    
Reviewed 10/18/21     
Revised  03/14/11