PE 417 - Annuities

Within the provisions of Iowa law, it shall be the policy of the Board of Trustees to honor the written request of the employees of Eastern Iowa Community College District, when properly executed by the employee and filed with the Board Secretary, to purchase an individual annuity contract for such employee.

EICCD does not guarantee that any annuity contract purchased will provide the desired tax benefits. It shall be the responsibility of each participating employee and the employee’s insurance company to see that the contract purchased complies with the requirements of the Internal Revenue Code in this regard.

DATE OF ADOPTION: 4/21/80
REVIEWED: 9/15/97; 5/15/00; 5/19/03; 4/16/12; 8/17/15; 12/10/18; 08/21/23
REVISED: 12/18/06
LEGAL REFERENCE: (Code of Iowa) 260C.14#9, 294.16
RELATED ADMINISTRATIVE PROCEDURES: