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412.4 Classified Employee Tax Shelter Programs

Code No. 412.4

CLASSIFIED EMPLOYEE TAX SHELTER PROGRAMS

Classified employees may elect to have amounts withheld from their pay for items authorized by law, subject to agreement of the district. The board may authorize the administration to make a payroll deduction for classified employees' tax sheltered annuity premiums purchased from any company or program chosen by the board.

Classified employees wishing to have payroll deductions for tax sheltered annuities shall make a written request to the superintendent or designee.

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.

Approved 9-13-93    Reviewed 2-19-01        Revised  10-21-2019