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.
The requirements stated in the Master contract between employees in that classified collective bargaining unit and the board regarding employee tax shelter programs shall be followed.
Classified employees wishing to have payroll deductions for tax sheltered annuities shall make a written request on the form provided to the business manager.
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
Reviewed: 1-23-12, 11-28-16
Revised: 6-9-03, 11-13-06