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412.4 CLASSIFIED EMPLOYEE TAX SHELTER PROGRAM

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 a company or program if chosen by the board.

Classified employees wishing to have payroll deductions for tax sheltered annuities will make a written request to the superintendent.  Request for purchase or change of tax sheltered annuities may be made by the 1st business day of the month to be deducted from the month's payroll.

 

 

 

 

 

 

 

Legal Reference:  

Small Business Job Protection Act of 1996, Section 1540(a), repealing portions

     of IRS REG § 1.403(b)-1(b)(3).     

Iowa Code §§ 260C; 273; 294.16.

 

Cross Reference:                                 

706.2   Payroll Deductions

 

 

 

Approved:   12/9/1996                    Reviewed:  04/10/2023                 Revised:  04/10/2023