Kan. Admin. Regs. § 88-10-4 - [Revoked]
Current through Register Vol. 40, No. 39, September 30, 2021
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88-10-4. Same; contracts. The voluntary tax-sheltered annuity program and annuities, contracts, and certificates associated with the voluntary tax-sheltered annuity program shall be separate from and in addition to the retirement program described in K.S.A. 74-4925(1)(b) and K.S.A. 74-4925(1)(c), and any amendments thereto. The voluntary tax-sheltered annuity contracts shall comply with sections 401(g) and 403(b) of the internal revenue code of 1986 [26 U.S.C. § 401(g) and 403(b), as amended by P.L. 99-514]. No voluntary tax-sheltered plan shall be offered to any eligible employee until the company offering the plan has submitted verification to the executive officer of the board of regents or the executive officer's designee that:
(a) the plan meets the requirements of section 403(b) of the internal revenue code of 1986 [26 U.S.C. § 403(b), as amended by P.L. 99-514]; and
(b) there are five employees contractually committed to participation in the company's voluntary tax-sheltered plan. Such contracts shall not provide any element of life insurance nor for premium waiver benefits. (Authorized by and implementing K.S.A. 1991 Supp. 74-4925; effective, E-74-12, Dec. 28, 1973; effective May 1, 1975; amended, T-85-31, Nov. 14, 1984; amended May 1, 1985; amended June 7, 1993.)