406.6 Licensed Employee Tax Shelter Programs

POSTED: July 24, 2024

Code No. 406.6 LICENSED EMPLOYEE TAX SHELTER PROGRAMS

 

The board authorizes the administration to make a payroll deduction for licensed employees’ tax sheltered annuity premiums purchased from a company or program chosen by the board and collective bargaining units.

 

Licensed 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 (2007).

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

 

Approved: September 20, 2004

Reviewed: August 16, 2010

Reviewed: November, 18, 2019

Revised:

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