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406.6 Licensed Employee Tax Shelter Programs

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.

Licensed employees wishing to have payroll deductions for tax sheltered annuities shall make a written request to the business office.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 (1995).

                                  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:   3/10/97                               Revised:    5/99                         Deleted:    3/8/99

Reinstated:  4/14/04                                               4/11                         Reviewed:   5/06

                                                                                                                                  2/14