412.4 - Classified Employee Tax Shelter Programs

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.  Requests for purchase or change of tax-sheltered annuities may be made by the first of the month prior to the payroll deduction.

 

 

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 §§; 260C; 273; 294.16.

                                    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 11/1/2004                             Reviewed 01/21/2008                           Revised 01/19/2009

                                                                             01/19/2009                                         05/21/2012

                                                                             05/21/2012                                         06/17/2019

                                                                             05/15/2017                                          08/15/2022

                                                                             06/17/2019

                                                                              08/15/2022