IRS actually has a documented policy on the "12-check plan": https://www.irs.gov/pub/irs-tege/409a_presentation.pdf https://www.irs.gov/pub/irs-tege/409a_prese

IRS actually has a documented policy on the "12-check plan": https://www.irs.gov/pub/irs-tege/409a_presentation.pdf https://www.irs.gov/pub/irs-tege/409a_presentation.pdf Wonder how many teachers understand that the net financial effect amounts to a zero-interest loan from themselves back to the school district?