The district shall establish a 403b plan. An Employee may file an election before the 10th day of the month following employment and the election shall take effect as of the next pay period. The amount contributed by an employee to a 403(b) plan will remain the same each year, unless the employee submits a written request with the board secretary to change the contribution amount. Changes to the 403(b) plan can be made quarterly (January, April, July, October) by contacting the board secretary.
Legal Reference: Small Business Job Protection Act of 1996
Iowa Code 260C; 273; 294.16
1988 Op. Att’y Gen. 38
Cross Reference: 706 Payroll Procedures
Approved: September 17, 2018
Reviewed:
Revised: