|DATE:||December 11, 2000|
|SUBJECT:||Voluntary Tax Sheltered Annuity Calculations for Kansas Board of Regents, School for the Deaf, and School for the Blind|
|CONTACT:||Sunni Zentner||(785) 296-7058||(Sunni.Zentner@da.state.ks.us)|
|SUMMARY:||Formulas for Calculating the Maximum Allowable Voluntary Tax Sheltered Annuity Contributions|
The attachments are the formulas for calculating the maximum allowable voluntary tax sheltered annuity contributions for the year 2000. These formulas have been developed in accordance with Internal Revenue Code limitations.
The Division of Accounts and Reports will continue to provide calculation worksheets for each voluntary tax sheltered annuity participant employed at the following agencies: Board of Regents, Kansas State School for the Blind, and School for the Deaf. These agencies will be contacted during the month of December to assist in gathering the data necessary to complete the worksheets.
As a reminder, Board of Regents Institutions are responsible for applying the maximum voluntary tax sheltered annuity formulas to their own employees and processing any necessary refunds prior to the end of the calendar year.
Attachment: Information Needed to Calculate Voluntary Tax Sheltered Annuity Maximum