The plan is created as a trust pursuant to Iowa Code chapter
121. The treasurer is the trustee of the plan and, pursuant to Iowa Code
chapter 121, has all powers necessary to carry out and effectuate the purposes,
objectives, and provisions of Iowa Code chapter 121 pertaining to the
plan.
The plan provides for the establishment of accounts under the
plan by eligible individuals in order to provide a means to save for qualified
disability expenses. The eligible individual is the account owner. The
treasurer shall segregate moneys received by the plan into two funds: the
program fund and the administrative fund. Contributions to the plan made on
behalf of an eligible individual may only be made in the form of cash. An
account owner is not permitted to provide investment direction regarding
contributions or earnings held by the plan.
Notes
Iowa Admin. Code r. 781-20.3
Adopted by
IAB
May 22, 2019/Volume XLI, Number 24, effective
6/26/2019
