412.04 - 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 or payroll department by the first of any given month.

 

 

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.

I.C. Iowa Code              Description
Iowa Code § 260C        Community Colleges
Iowa Code § 273           AEAs
Iowa Code § 294.16      Teachers - Investment Contracts

Cross References:  706.02  Payroll Deductions

Approved: 3/21/2016, 2/28/2018, 8/16/2021, 7/21/2025
Reviewed: 7/1/2025
Revised: 7/1/2025