FILE:  DJCE

 

EMPLOYEE CONTRIBUTIONS TO RETIREMENT PLANS

 

 

It is the policy of the DeSoto Parish School Board that required designated contributions of employee wages to the State of Louisiana for the

 

  1. Teachers’ Retirement System of Louisiana,

  2. Louisiana School Employees Retirement System,

  3. Parochial Schools Employees Retirement System,

  4. State Employees Retirement System, and

  5. any other State of Louisiana public retirement system

 

where wages are treated as not having been received by such employees and are excluded from the W-2 earnings of such employees, such wages shall be treated as contributions to the respective employee benefit and retirement plan by the DeSoto Parish School Board Section in accordance with the provisions of Section 414(h)(2) of the Internal Revenue Code.

 

Employees of the DeSoto Parish School Board shall not be given the option to receive such wages, rather than to have them contributed an employee benefit and retirement plan, nor shall such employees have the option of making cash or deferred election with respect to such contributions.

 

Adopted: December, 2010

 

 

Ref:    Internal Revenue Service Code Section 414(h)(2)

Board minutes, 12-9-10

 

DeSoto Parish School Board