Central Decatur Community School District is a member of the State of Iowa Retirement Investors’ Club. Employees may elect to have amounts withheld from their pay for items authorized by law and in accordance with the State of Iowa Retirement Investors’ Club, subject to agreement of the district. The board may authorize the administration to make a payroll deduction for licensed employees’ tax-sheltered annuity premiums in accordance with the State of Iowa Retirement Investors’ Club, if chosen by the board.
Classified employees wishing to have payroll deductions for tax sheltered annuities will submit a Salary Reduction Form to the Middle/High School Business Office. A new form is required for any changes to existing salary reductions. Forms turned in prior to the 15th of the month will be in effect for that month’s payroll. Forms turned in after the 15th will take effect the following 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.
Cross Reference: 706 Payroll Procedures
Approved 2/8/2022 Reviewed Revised