There Is a Newer Version of the Iowa Code
  1. 2025 Iowa Code
  2. 2024 Iowa Code
  3. 2023 Iowa Code
  4. 2016 Iowa Code (here)
  5. View All Versions
View Our Newest Version Here

2016 Iowa Code
Title I - STATE SOVEREIGNTY AND MANAGEMENT
Chapter 8A - DEPARTMENT OF ADMINISTRATIVE SERVICES
Section 8A.438 - Tax-sheltered investment contracts.

Universal Citation:
IA Code § 8A.438 (2016)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

8A.438

Tax-sheltered investment contracts.

1. The director may establish a tax-sheltered investment program for eligible employees. The director may arrange for the provision of investment vehicles authorized under section 403(b) of the Internal Revenue Code, as defined in section 422.3. The department may offer the tax-sheltered investment program to eligible public employers in the state of Iowa.

2. a. A special, separate tax-sheltered investment revolving trust fund is created in the state treasury under the control of the department. The fund shall consist of all moneys deposited in the fund pursuant to this section, any funds received from other entities in the state of Iowa, and interest and earnings thereon. The director is the trustee of the fund and shall administer the fund. Any loss to the fund shall be charged against the fund and the director shall not be personally liable for such loss.

b. Moneys in the fund are not subject to section 8.33. Notwithstanding section 12C.7, subsection 2, interest or earnings on moneys in the fund shall be credited to the fund.

2003 Acts, ch 145, §74; 2008 Acts, ch 1171, §57

Referred to in §260C.14, §273.3, §294.16

Disclaimer: These codes may not be the most recent version. Iowa may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.