• 412.4


    Code No. 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

                                      IRS REG § 1.403(b)-1(b)(3).

                                      Iowa Code §§ 20.9; 260C; 273; 294.16 (2007).

                                     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   4/18/2009                             

    Reviewed   3/25/2009, 1/23/2014                            

    Revised      4/18/2009