The board authorizes the administration to make a payroll deduction for classified employees' tax sheltered annuity premiums purchased from any company authorized by Iowa law.
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).
Cross Reference: 706 Payroll Procedures
Approved 9-20-04 Reviewed 7-17-12 2-21-19 5/18/2022 Revised 2-21-19