Senate File 403 - Introduced SENATE FILE 403 BY KETTERING A BILL FOR An Act relating to the statewide fire and police retirement 1 system by providing for the transition of the system and its 2 members into the Iowa public employees’ retirement system. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 2219XS (3) 84 aw/sc

S.F. 403 Section 1. NEW SECTION . 97B.5 Transition of statewide fire 1 and police retirement system members —— chief executive officer 2 duties. 3 1. The chief executive officer for the system is responsible 4 for effecting the transition, by July 1, 2015, of members of 5 the statewide fire and police retirement system, created in 6 chapter 411, into the Iowa public employees’ retirement system 7 as protection occupation members under section 97B.49B. The 8 chief executive officer shall develop a transition plan and 9 other appropriate transition documents deemed necessary to 10 accomplish the transition in accordance with the requirements 11 of this chapter and section 411.37A. The chief executive 12 officer shall present the transition plan and related 13 transition documents to the benefits advisory committee. The 14 chief executive officer may consider any recommendations 15 offered by the committee, and must then adopt a transition plan 16 and other appropriate transition documents deemed necessary 17 to accomplish the transition. The statewide fire and police 18 retirement system and its board shall comply with the orders 19 of the chief executive officer issued pursuant to the adopted 20 transition plan or related transition documents. 21 2. The chief executive officer shall include in the 22 transition plan, or related transition documents, provisions to 23 facilitate continuity of coverage for members of the statewide 24 fire and police retirement systems. 25 3. Upon the written approval of the chief executive 26 officer of the Iowa public employees’ retirement system to the 27 statewide fire and police retirement system, a vested member of 28 the statewide fire and police retirement system under chapter 29 411 on June 30, 2015, who meets all requirements adopted in the 30 transition plan or related transition documents shall become 31 a member of the retirement system under this chapter on July 32 1, 2015. 33 Sec. 2. Section 411.2, subsection 1, Code 2011, is amended 34 to read as follows: 35 -1- LSB 2219XS (3) 84 aw/sc 1/ 3

S.F. 403 1. Except as provided in subsections 2 through 5 6 , 1 each city in which the fire fighters or police officers are 2 appointed under the civil service law of this state, shall 3 participate in the retirement system established by this 4 chapter for the purpose of providing retirement allowances only 5 for fire fighters or police officers, or both, of the cities 6 who are so appointed after the date the city comes under the 7 retirement system, or benefits to their dependents. 8 Sec. 3. Section 411.2, Code 2011, is amended by adding the 9 following new subsection: 10 NEW SUBSECTION . 6. A police officer or fire fighter hired 11 on or after July 1, 2011, by a city with a population of more 12 than eight thousand prior to the results of the federal census 13 conducted in 1990, shall not be eligible to participate in 14 the retirement system under this chapter and shall instead 15 be enrolled in the Iowa public employees’ retirement system 16 created in chapter 97B, as protection occupation members under 17 section 97B.49B. 18 Sec. 4. NEW SECTION . 411.37A Transition to Iowa public 19 employees’ retirement system —— board duties. 20 1. The board of trustees for the system is responsible for 21 collaborating with the chief executive officer of the Iowa 22 public employees’ retirement system to develop and effectuate 23 a plan to transition all statewide fire and police retirement 24 system members and to transfer all assets of that system into 25 the Iowa public employees’ retirement system by July 1, 2015. 26 2. The board shall assist the chief executive officer of 27 the Iowa public employees’ retirement system in developing a 28 transition plan and related transition documents, including 29 provisions necessary to facilitate continuity of coverage for 30 system members, and relating to the transfer of assets from the 31 system to the Iowa public employees’ retirement system created 32 in chapter 97B. 33 EXPLANATION 34 This bill relates to the statewide fire and police 35 -2- LSB 2219XS (3) 84 aw/sc 2/ 3

S.F. 403 retirement system by providing for the transition of the system 1 and its members into the Iowa public employees’ retirement 2 system (IPERS). 3 The bill provides that all newly hired police officers and 4 fire fighters of a city with a population of more than 8,000 5 shall not be eligible for membership in the statewide fire and 6 police retirement system, but instead shall be required to 7 become a member of the Iowa public employees’ retirement system 8 as protection occupation members. 9 The bill further provides that the board of trustees of the 10 statewide fire and police retirement system must work with 11 the chief executive officer of the Iowa public employees’ 12 retirement system to develop a plan for the transition of all 13 statewide fire and police retirement system members and assets 14 into the Iowa public employees’ retirement system. 15 The bill provides that the chief executive officer of IPERS 16 must develop a transition plan and related transition documents 17 to be presented to the Iowa public employees’ retirement system 18 benefits advisory committee for its review and comments in 19 2013. The bill provides that the chief executive officer may 20 consider any recommendations from the committee, and must then 21 adopt a transition plan and related transition documents. 22 The bill provides that the members and assets of the 23 statewide fire and police retirement system on June 30, 2015, 24 become members or assets, respectively, of the Iowa public 25 employees’ retirement system as of July 1, 2015. 26 -3- LSB 2219XS (3) 84 aw/sc 3/ 3