412.4 - Tax Shelter

The board authorizes the administration to make a payroll deduction for classified employees' tax sheltered annuity premiums purchased from companies approved in the
state 403(b) plan.

Classified employees wishing to have payroll deductions for tax sheltered annuities will make a written request to the board secretary.

 

 

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 (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    7/27/2009  _                   
Reviewed   6/16/2014                                                             
Revised