North Dakota Code 54-44-04.1 – The director of the office of management and budget shall have authority to withhold or deduct certain amounts from employees’ compensation
Current as of: 2023 | Check for updates
|
Other versions
The director of the office of management and budget, in addition to other deductions or withholdings authorized or permitted by law, is authorized to withhold or deduct from the employees’ monetary compensation such amounts as may be determined by the employer and employees to participate in tax-favored or tax-sheltered annuity programs which are authorized by the federal Internal Revenue Code.
Terms Used In North Dakota Code 54-44-04.1
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.