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Text: HSB00681                          Text: HSB00683
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House Study Bill 682

Conference Committee Text

PAG LIN
  1  1    Section 1.  Section 97B.41, Code Supplement 1995, is
  1  2 amended by adding the following new subsections:
  1  3    NEW SUBSECTION.  13A.  "Regular service" means service for
  1  4 an employer other than special service.
  1  5    NEW SUBSECTION.  16A.  "Special service" means service for
  1  6 an employer while employed in a protection occupation as
  1  7 provided in section 97B.49, subsection 16, paragraph "a", or
  1  8 as a county sheriff, deputy sheriff, or airport fire fighter
  1  9 as provided in section 97B.49, subsection 16, paragraph "b".
  1 10    Sec. 2.  Section 97B.41, subsection 20, paragraph b,
  1 11 subparagraph (11), unnumbered paragraph 3, Code Supplement
  1 12 1995, is amended to read as follows:
  1 13    Notwithstanding any other provision of this chapter
  1 14 providing for the payment of the benefits provided in section
  1 15 97B.49, subsection 16 or 17, the department shall establish
  1 16 the covered wages limitation which applies to members covered
  1 17 under section 97B.49, subsection 16 or 17, at the same level
  1 18 as is established under this subparagraph for other members of
  1 19 the system.
  1 20    Sec. 3.  Section 97B.45, unnumbered paragraph 2, Code 1995,
  1 21 is amended to read as follows:
  1 22    A member may retire after the member's sixty-fifth birthday
  1 23 except as otherwise provided in section 97B.46.  A member
  1 24 retiring on or after the normal retirement date, as provided
  1 25 in section 97B.46, shall submit a written notice to the
  1 26 department setting forth the date the retirement is to become
  1 27 effective.  The date shall be after the member's last day of
  1 28 service and not before the first day of the sixth calendar
  1 29 month preceding the month in which the notice is filed.
  1 30    Sec. 4.  Section 97B.46, subsection 2, Code 1995, is
  1 31 amended by striking the subsection.
  1 32    Sec. 5.  Section 97B.49, subsection 5, paragraph b,
  1 33 unnumbered paragraph 4, Code Supplement 1995, is amended to
  1 34 read as follows:
  1 35    Notwithstanding any other provision of this chapter
  2  1 providing for the payment of the benefits provided in
  2  2 subsection 16 or 17, the department shall establish the
  2  3 percentage multiplier which applies to members covered under
  2  4 subsection 16 or 17 at the same level as is established under
  2  5 this subsection for other members of the system.
  2  6    Sec. 6.  Section 97B.49, Code Supplement 1995, is amended
  2  7 by adding the following new subsection:
  2  8    NEW SUBSECTION.  17.  a.  An active or inactive vested
  2  9 member, who is or has been employed in both special service
  2 10 and regular service, who retires on or after July 1, 1996,
  2 11 with four or more completed years of service and at the time
  2 12 of retirement is at least fifty-five years of age, may elect
  2 13 to receive, in lieu of the receipt of any other benefits under
  2 14 this section, a combined monthly retirement allowance equal to
  2 15 the sum of the following:
  2 16    (1)  One-twelfth of an amount equal to the applicable
  2 17 percentage multiplier established in subsection 5 of the
  2 18 member's three-year average covered wage multiplied by a
  2 19 fraction of years of service.  The fraction of years of
  2 20 service for purposes of this subparagraph shall be the actual
  2 21 years of service, not to exceed twenty-two, earned in a
  2 22 position described in subsection 16, paragraph "b", for which
  2 23 special service contributions were made, divided by twenty-
  2 24 two.
  2 25    (2)  One-twelfth of an amount equal to the applicable
  2 26 percentage multiplier established in subsection 5 of the
  2 27 member's three-year average covered wage multiplied by a
  2 28 fraction of years of service.  The fraction of years of
  2 29 service for purposes of this subparagraph shall be the actual
  2 30 years of service, not to exceed twenty-five, earned in a
  2 31 position described in subsection 16, paragraph "a", for which
  2 32 special service contributions were made, divided by twenty-
  2 33 five.
  2 34    (3)  One-twelfth of an amount equal to the applicable
  2 35 percentage multiplier established in subsection 5 of the
  3  1 member's three-year average covered wage multiplied by a
  3  2 fraction of years of service.  The fraction of years of
  3  3 service for purposes of this subparagraph shall be the actual
  3  4 years of service, not to exceed thirty, for which regular
  3  5 service contributions were made, divided by thirty.  However,
  3  6 any otherwise applicable age reduction for early retirement
  3  7 shall apply to the calculation under this subparagraph.
  3  8    In calculating the fractions of years of service under
  3  9 subparagraphs (1) and (2), a member shall not receive special
  3 10 service credit for years of service for which the member and
  3 11 the member's employer did not make the required special
  3 12 service contributions to the department.
  3 13    b.  In calculating the combined monthly retirement
  3 14 allowance pursuant to paragraph "a", the sum of the fraction
  3 15 of years of service provided in paragraph "a", subparagraphs
  3 16 (1), (2), and (3), shall not exceed one.  If the sum of the
  3 17 fractions of years of service would exceed one, the department
  3 18 shall deduct years of service first from the calculation under
  3 19 paragraph "a", subparagraph (3), and then from the calculation
  3 20 under paragraph "a", subparagraph (2), if necessary, so that
  3 21 the sum of the fractions of years of service shall equal one.
  3 22    Sec. 7.  Section 97B.52, subsection 1, Code Supplement
  3 23 1995, is amended to read as follows:
  3 24    1.  If a member dies prior to the member's first month of
  3 25 entitlement, the accumulated contributions of the member at
  3 26 the date of death plus the product of an amount equal to the
  3 27 highest year of covered wages of the deceased member and the
  3 28 number of years of membership service divided by thirty the
  3 29 applicable denominator shall be paid to the member's
  3 30 beneficiary in a lump sum payment.  However, a lump sum
  3 31 payment made to a beneficiary under this subsection due to the
  3 32 death of a member shall not be less than the amount that would
  3 33 have been payable on the death of the member on June 30, 1984,
  3 34 under this subsection as it appeared in the 1983 Code.
  3 35    As used in this subsection, "applicable denominator" means
  4  1 the following, based upon the type of membership service in
  4  2 which the member served either on the date of death, or if the
  4  3 member died after terminating service, on the date of the
  4  4 member's last termination of service:
  4  5    a.  For regular service, the applicable denominator is
  4  6 thirty.
  4  7    b.  For service in a protection occupation, as defined in
  4  8 section 97B.49, subsection 16, paragraph "d", the applicable
  4  9 denominator is twenty-five.
  4 10    c.  For service as a sheriff, deputy sheriff, or airport
  4 11 fire fighter, as provided in section 97B.49, subsection 16,
  4 12 paragraph "b", the applicable denominator is twenty-two.
  4 13    Effective July 1, 1978, a method of payment under this
  4 14 subsection filed with the department by a member does not
  4 15 apply.  
  4 16                           EXPLANATION
  4 17    This bill provides changes to the Iowa public employees'
  4 18 retirement system (IPERS) concerning members of a protection
  4 19 occupation, sheriffs, deputy sheriffs, and airport fire
  4 20 fighters.  This bill may include a state mandate as defined in
  4 21 section 25B.3.  The state mandate funding requirement in
  4 22 section 25B.2, however, does not apply to public employee
  4 23 retirement systems.
  4 24    Section 97B.41, concerning definitions, is amended.  New
  4 25 subsections 13A and 16A add two definitions concerning regular
  4 26 and special service.  Special service is defined as service as
  4 27 a member of a protection occupation, and service as a county
  4 28 sheriff, deputy sheriff, or airport fire fighter, all as
  4 29 described in section 97B.49, subsection 16.  Regular service
  4 30 is defined as service other than special service.
  4 31    Sections 97B.45 and 97B.46 are amended by striking the
  4 32 provision that a member shall not be employed as a peace
  4 33 officer or fire fighter after attaining 65 years of age.
  4 34    Section 97B.49 is amended to add a new subsection 17 that
  4 35 establishes a hybrid retirement formula to be used in
  5  1 computing the retirement allowance for members who earned
  5  2 service as a regular IPERS member and who earned service as a
  5  3 member of a protection occupation or a county sheriff, deputy
  5  4 sheriff, or airport fire fighter.
  5  5    Section 97B.52 is amended to provide that payment to a
  5  6 member's beneficiary, if the member dies prior to the member's
  5  7 first month of entitlement, is calculated based on years of
  5  8 service divided by 22, 25, or 30, depending upon the member's
  5  9 last membership service.  
  5 10 LSB 4339HC 76
  5 11 ec/cf/24
     

Text: HSB00681                          Text: HSB00683
Text: HSB00600 - HSB00699               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

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