The board authorizes the administration to make a payroll deduction for classified employees' tax sheltered annuity premiums purchased from any company the employee chooses or through an Iowa-licensed salesperson selected by the employee.
Classified employees wishing to have payroll deductions for tax sheltered annuities shall make a written request to the superintendent.
Date Board Adopted
Date Board Reviewed: December 20, 2010
Date Board Reviewed: 2/14/2022
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 (2009).
1988 Op. Att'y Gen. 38.
1976 Op. Att'y Gen. 462, 602.
1966 Op. Att'y Gen. 211, 220.