The board authorizes the administration to make a payroll deduction for licensed employees' tax sheltered annuity premiums purchased from a company or program affiliated with the state approved program.
Licensed employees wishing to have payroll deductions for tax sheltered annuities will make a written request to the business manager.
The requirements stated in the Employee Handbook between employees in that certified collective bargaining unit and the board regarding the tax sheltered annuities of such employees will be followed.
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 (2017).
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: Feb. 11, 1985, Dec. 17, 2012, February 19, 2018
Reviewed: Aug. 24, 2005, Sep. 14, 2009, Nov. 9, 2012, January 15, 2018
Revised: Feb. 10, 1997, Oct. 12, 2009, Nov. 9, 2012, January 15, 2018
