The board authorizes the administration to make a payroll deduction for licensed employees' tax sheltered annuity premiums purchased from any company the employee chooses or through an Iowa-licensed salesperson selected by the employee.

Licensed employees wishing to have payroll deductions for tax sheltered annuities shall make a written request to the business manager.  Employees shall be allowed no more than two salary reduction changes per calendar year.

 Legal Reference:    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 8/18/11     Reviewed   10/21/20             Revised   10/21/20