Iowa Admin. Code r. 781-20.3
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.
Iowa Admin. Code r. 781-20.3