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Classified Employee Tax Shelter Programs

  Code No. 412.4

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 (2013).

                                    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


Initially Approved   03-12-2001                        Last Reviewed   05-09-2016                               Last Revision 03-23-2009

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