Text: SF00486 Text: SF00488 Text: SF00400 - SF00499 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 97A.12, Code 1995, is amended to read 1 2 as follows: 1 3 97A.12 EXEMPTION FROM EXECUTION AND OTHER PROCESS OR 1 4 ASSIGNMENT. 1 5 The right of any person to a pension, annuity, or 1 6 retirement allowance, to the return of contributions, the 1 7 pension, annuity, or retirement allowance itself, any optional 1 8 benefit or death benefit, any other right accrued or accruing 1 9 to any person under this chapter, and the moneys in the 1 10 various funds created under this chapter, are not subject to 1 11 execution, garnishment, attachment, or any other process 1 12 whatsoever, and are unassignable except for the purposes of 1 13 enforcing child support obligations, including spousal or 1 14 medical support obligations to the extent provided in the 1 15 child support order, and except asin this chapterotherwise 1 16 specifically provided in this chapter. For the purposes of 1 17 enforcing child support obligations, including spousal or 1 18 medical support obligations to the extent provided in the 1 19 child support order, the garnishment or attachment of or the 1 20 execution against compensation due a person under this chapter 1 21 shall not exceed the amount specified in 15 U.S.C. } 1673(b). 1 22 Sec. 2. Section 97B.73, unnumbered paragraph 1, Code 1995, 1 23 is amended to read as follows: 1 24 A vested or retired member who was in public employment 1 25 comparable to employment covered under this chapter in another 1 26 state or in the federal government, or who was a member of 1 27 another public retirement system in this state, including but 1 28 not limited to the teachers insurance annuity association- 1 29 college retirement equities fund, but who was not retired 1 30 under that system, upon submitting verification of membership 1 31 and service in the other public system to the department, 1 32 including proof that the member has no further claim upon a 1 33 retirement benefit from that other public system, may make 1 34 employer and employee contributions to the system either for 1 35 the entire period of service in the other public system, or 2 1 for partial service in the other public systemin increments2 2of one or more years, as long as the increments represent full2 3years and not a portion of a year.The member may also make2 4one lump sum contribution to the system which represents the2 5entire period of service in the other public system, even if2 6the period of time exceeds one year or includes a portion of a2 7year.If the member wishes to transfer only a portion of the 2 8 service value of another public system to this system and the 2 9 other public system allows a partial withdrawal of a member's 2 10 system credits, the member shall receive credit for membership 2 11 service in this system equivalent to the number of years of 2 12 service transferred from the other public system. The 2 13 contribution payable shall be based upon the member's covered 2 14 wages for the most recent full calendar year at the applicable 2 15 rates in effect for that calendar year under sections 97B.11 2 16 and 97B.49 and multiplied by the member's years of service in 2 17 other public employment. If the member's most recent covered 2 18 wages were earned prior to the most recent calendar year, the 2 19 member's covered wages shall be adjusted by the department by 2 20 an inflation factor to reflect changes in the economy since 2 21 the covered wages were earned. 2 22 Sec. 3. Section 97B.80, unnumbered paragraph 1, Code 1995, 2 23 is amended to read as follows: 2 24Effective July 1, 1992, aA vested or retired member, who 2 25 at any time served on active duty in the armed forces of the 2 26 United States, upon submitting verification of the dates of 2 27 the active duty service, may make employer and employee 2 28 contributions to the system based upon the member's covered 2 29 wages for the most recent full calendar year in which the 2 30 member had reportable wages at the applicable rates in effect 2 31 for that year under sections 97B.11 and 97B.49, for the period 2 32 of time of the active duty service, in increments of no2 33greater than one year and not less than one calendar quarter,2 34and receive credit for membership service and prior service2 35for the period of time for which the contributions are made. 3 1However, the member may not make contributions in an increment3 2of less than one year more than once.The member mayalso3 3 make one lump sum contribution to the system which represents 3 4 the period of time of the active duty service, even if the3 5period of time exceeds one yearor a portion of the service. 3 6 If the member's most recent covered wages were earned prior to 3 7 the most recent calendar year, the member's covered wages 3 8 shall be adjusted by the department by an inflation factor to 3 9 reflect changes in the economy. The department shall adjust 3 10 benefits for a six-month period prior to the date the member 3 11 pays contributions under this section if the member is 3 12 receiving a retirement allowance at the time the contribution 3 13 payment is made. Verification of active duty service and 3 14 payment of contributions shall be made to the department. 3 15 However, a member is not eligible to make contributions under 3 16 this section if the member is receiving, is eligible to 3 17 receive, or may in the future be eligible to receive 3 18 retirement pay from the United States government for active 3 19 duty in the armed forces, except for retirement pay granted by 3 20 the United States government under retired pay for nonregular 3 21 service (10 U.S.C. } 1331, et seq.). A member receiving 3 22 retired pay for nonregular service who makes contributions 3 23 under this section shall provide information required by the 3 24 department documenting time periods covered under retired pay 3 25 for nonregular service. 3 26 Sec. 4. Section 411.13, Code 1995, is amended to read as 3 27 follows: 3 28 411.13 EXEMPTION FROM EXECUTION AND OTHER PROCESS, OR 3 29 ASSIGNMENT. 3 30 The right of any person to a pension, annuity, or 3 31 retirement allowance, to the return of contributions, the 3 32 pension, annuity, or retirement allowance itself, any optional 3 33 benefit or death benefit, any other right accrued or accruing 3 34 to any person under this chapter, and the moneys in the fire 3 35 and police retirement fund created under this chapter, are not 4 1 subject to execution, garnishment, attachment, or any other 4 2 process whatsoever, and are unassignable except for the 4 3 purposes of enforcing child support obligations, including 4 4 spousal or medical support obligations to the extent provided 4 5 in the child support order, and except asin this chapter4 6 otherwise specifically provided in this chapter. For the 4 7 purposes of enforcing child support obligations, including 4 8 spousal or medical support obligations to the extent provided 4 9 in the child support order, the garnishment or attachment of 4 10 or the execution against compensation due a person under this 4 11 chapter shall not exceed the amount specified in 15 U.S.C. } 4 12 1673(b). 4 13 Sec. 5. Section 411.36, subsection 1, unnumbered paragraph 4 14 1, Code 1995, as amended by 1995 Iowa Acts, Senate File 45, 4 15 section 5, is amended to read as follows: 4 16 A board of trustees for the statewide fire and police 4 17 retirement system is created. The board shall consist of 4 18thirteenfourteen members, including nine voting members and 4 19fourfive nonvoting members. Section 69.16A applies to the 4 20 appointment of the voting members of the board. The voting 4 21 members of the board shall be as follows: 4 22 Sec. 6. Section 411.36, subsection 1, unnumbered paragraph 4 23 2, Code 1995, as amended by 1995 Iowa Acts, Senate File 45, 4 24 section 5, is amended to read as follows: 4 25 The treasurer of state, or the treasurer's designee, shall 4 26 serve as an ex officio, nonvoting member. The other nonvoting 4 27 members of the board shall be two state representatives, one 4 28 appointed by the speaker of the house of representatives and 4 29 one by the minority leader of the house, and two state 4 30 senators, one appointed by the majority leader of the senate 4 31 and one by the minority leader of the senate. 4 32 Sec. 7. Section 411.36, subsection 2, Code 1995, is 4 33 amended to read as follows: 4 34 2.Except as otherwise provided for the initial4 35appointments, theThe voting members shall be appointed for 5 1 four-year terms, and the nonvoting members who are members of 5 2 the senate and the house of representatives shall be appointed 5 3 for two-year terms. Terms begin on May 1 in the year of 5 4 appointment and expire on April 30 in the year of expiration. 5 5 Sec. 8. Section 411.36, subsection 5, paragraph a, Code 5 6 1995, is amended to read as follows: 5 7 a. Members of the board, except the treasurer of state or 5 8 the treasurer's designee, shall be paid their actual and 5 9 necessary expenses incurred in the performance of their duties 5 10 and shall receive a per diem as specified in section 7E.6 for 5 11 each day of service. Per diem and expenses shall be paid to 5 12 voting members from the fire and police retirement fund 5 13 created in section 411.8. 5 14 Sec. 9. 1994 Iowa Acts, chapter 1183, section 51, is 5 15 amended to read as follows: 5 16 SEC. 51. Section 97B.66, unnumbered paragraphs 1 and 2, 5 17 Code Supplement 1993, are amended to read as follows: 5 18 A vested or retired member who was a member of the teachers 5 19 insurance and annuity association-college retirement equity 5 20 fund at any time between July 1, 1967 and June 30, 1971 and 5 21 who became a member of the system on July 1, 1971, upon 5 22 submitting verification of service and wages earned during the 5 23 applicable period of service under the teachers insurance and 5 24 annuity association-college retirement equity fund, may make 5 25 employer and employee contributions to the system based upon 5 26 the covered wages of the member and the covered wages and the 5 27 contribution rates in effect for all or a portion of that 5 28 period of service and receive credit for membership service 5 29 under this system equivalent to the applicable period of 5 30 membership service in the teachers insurance and annuity 5 31 association-college retirement equity fund for which the 5 32 contributions have been made. In addition, a member making 5 33 employer and employee contributions because of membership in 5 34 the teachers insurance and annuity association-college 5 35 retirement equity fund under this section who was a member of 6 1 the system on June 30, 1967 and withdrew the member's 6 2 accumulated contributions because of membership on July 1, 6 3 1967 in the teachers insurance and annuity association-college 6 4 retirement equity fund, may make employee contributions to the 6 5 system for all or a portion of the period of service under the 6 6 system prior to July 1, 1967. A member making contributions 6 7 pursuant to this section may make the contributions either for 6 8 the entire applicable period of service, or, effective upon 6 9 the date that the department determines that the amendments to 6 10 this paragraph and unnumbered paragraph 2 contained in this 6 11 Act shall be implemented, for portions of the period of 6 12 service, and if contributions are made for portions of the6 13period of service, the contributions shall be in increments of6 14one or more years, as long as the increments represent full6 15years and not a portion of a year. However, the department 6 16 shall not implement the amendments to this paragraph or 6 17 unnumbered paragraph 2, as enacted in this Act, unless and 6 18 until the department determines that the most recent annual 6 19 actuarial valuation of the retirement system indicates that 6 20 the employer and employee contribution rates in effect under 6 21 section 97B.11 can absorb the amendments to this paragraph and 6 22 unnumbered paragraph 2 and to section 97B.72, unnumbered 6 23 paragraphs 1 and 2, section 97B.72A, subsection 1, unnumbered 6 24 paragraph 1, section 97B.73A, unnumbered paragraph 1, and 6 25 section 97B.74, unnumbered paragraphs 1 and 2, contained in 6 26 this Act, after meeting the other established priority of the 6 27 system. Until the amendments are implemented, the department 6 28 shall continue to implement the provisions of section 97B.66, 6 29 unnumbered paragraphs 1 and 2, Code Supplement 1993. As used 6 30 in this section, unless the context otherwise requires, "other 6 31 established priority of the system" means that commencing 6 32 January 1 following the most recent annual actuarial valuation 6 33 of the system, the department has increased the covered wage 6 34 limitation from the previous year by three thousand dollars, 6 35 in accordance with section 97B.41, subsection 20, paragraph 7 1 "b", subparagraph (11). 7 2 The contributions paid by the vested or retired member 7 3 shall be equal to the accumulated contributions as defined in 7 4 section 97B.41, subsection 2, by the member for the applicable 7 5 period of service, and the employer contribution for the 7 6 applicable period of service under the teachers insurance and 7 7 annuity association-college retirement equity fund, that would 7 8 have been or had been contributed by the vested or retired 7 9 member and the employer, if applicable, plus interest on the 7 10 contributions that would have accrued for the applicable 7 11 period from the date the previous applicable period of service 7 12 commenced under this system or from the date the service of 7 13 the member in the teachers insurance and annuity association- 7 14 college retirement equity fund commenced to the date of 7 15 payment of the contributions by the member equal to two 7 16 percent plus the interest dividend rate applicable for each 7 17 year. 7 18 Sec. 10. 1994 Iowa Acts, Chapter 1183, section 53, is 7 19 amended to read as follows: 7 20 SEC. 53. Section 97B.72, unnumbered paragraphs 1 and 2, 7 21 Code Supplement 1993, are amended to read as follows: 7 22 Persons who are members of the Seventy-first General 7 23 Assembly or a succeeding general assembly who submit proof to 7 24 the department of membership in the general assembly during 7 25 any period beginning July 4, 1953, may make contributions to 7 26 the system for all or a portion of the period of service in 7 27 the general assembly, and receive credit for the applicable 7 28 period for which contributions are made. The contributions 7 29 made by the member shall be equal to the accumulated 7 30 contributions as defined in section 97B.41, subsection 2, 7 31 which would have been made if the member of the general 7 32 assembly had been a member of the system during the applicable 7 33 period. The proof of membership in the general assembly and 7 34 payment of accumulated contributions shall be transmitted to 7 35 the department. A member making contributions pursuant to 8 1 this section may make the contributions either for the entire 8 2 applicable period of service, or, effective upon the date that 8 3 the department determines that the amendments to this 8 4 paragraph and unnumbered paragraph 2 contained in this Act 8 5 shall be implemented, for portions of the period of service,8 6and if contributions are made for portions of the period of8 7service, the contributions shall be in increments of one or8 8more years, as long as the increments represent full years and8 9not a portion of a year. However, the department shall not 8 10 implement the amendments to this paragraph or unnumbered 8 11 paragraph 2, as enacted in this Act, unless and until the 8 12 department determines that the most recent annual actuarial 8 13 valuation of the retirement system indicates that the employer 8 14 and employee contribution rates in effect under section 97B.11 8 15 can absorb the amendments to this paragraph and unnumbered 8 16 paragraph 2 and to section 97B.66, unnumbered paragraphs 1 and 8 17 2, section 97B.72A, subsection 1, unnumbered paragraph 1, 8 18 section 97B.73A, unnumbered paragraph 1, and section 97B.74, 8 19 unnumbered paragraphs 1 and 2, contained in this Act, after 8 20 meeting the other established priority of the system, as 8 21 defined in section 97B.66. Until the amendments are 8 22 implemented, the department shall continue to implement the 8 23 provisions of section 97B.72, unnumbered paragraphs 1 and 2, 8 24 Code Supplement 1993. 8 25 There is appropriated from moneys available to the general 8 26 assembly under section 2.12 an amount sufficient to pay the 8 27 contributions of the employer based on the period of service 8 28 for which the members have paid accumulated contributions in 8 29 an amount equal to the contributions which would have been 8 30 made if the members of the general assembly who made employee 8 31 contributions had been members of the system during the 8 32 applicable period of service in the general assembly plus two 8 33 percent interest plus interest dividends for all completed 8 34 calendar years and for any completed calendar year for which 8 35 the interest dividend has not been declared and for completed 9 1 months of partially completed calendar years at two percent 9 2 interest plus the interest dividend rate calculated for the 9 3 previous year, compounded annually, from the end of the 9 4 calendar year in which contribution was made to the first day 9 5 of the month of such date. 9 6 Sec. 11. 1994 Iowa Acts, Chapter 1183, section 54, is 9 7 amended to read as follows: 9 8 SEC. 54. Section 97B.72A, subsection 1, unnumbered 9 9 paragraph 1, Code Supplement 1993, is amended to read as 9 10 follows: 9 11 An active or vested member of the system who was a member 9 12 of the general assembly prior to July 1, 1988, may make 9 13 contributions to the system for all or a portion of the period 9 14 of service in the general assembly. The contributions made by 9 15 the member shall be equal to the accumulated contributions as 9 16 defined in section 97B.41, subsection 2, which would have been 9 17 made if the member of the general assembly had been a member 9 18 of the system during the applicable period of service in the 9 19 general assembly. A member making contributions pursuant to 9 20 this section may make the contributions either for the entire 9 21 applicable period of service, or for portions of the period of 9 22 service, and, effective upon the date that the department9 23determines that the amendments to this paragraph contained in9 24this Act shall be implemented, if contributions are made for9 25portions of the period of service, the contributions shall be9 26in increments of one or more years, as long as the increments9 27represent full years and not a portion of a year. The member 9 28 of the system shall submit proof to the department of 9 29 membership in the general assembly. The department shall 9 30 credit the member with the period of membership service for 9 31 which contributions are made. However, the department shall 9 32 not implement the amendments to this paragraph, as enacted in 9 33 this Act, unless and until the department determines that the 9 34 most recent annual actuarial valuation of the retirement 9 35 system indicates that the employer and employee contribution 10 1 rates in effect under section 97B.11 can absorb the amendments 10 2 to this paragraph and to section 97B.66, unnumbered paragraphs 10 3 1 and 2, section 97B.72, unnumbered paragraphs 1 and 2, 10 4 section 97B.73A, unnumbered paragraph 1, and section 97B.74, 10 5 unnumbered paragraphs 1 and 2, contained in this Act, after 10 6 meeting the other established priority of the system, as 10 7 defined in section 97B.66. Until the amendments are 10 8 implemented, the department shall continue to implement the 10 9 provisions of section 97B.72A, subsection 1, unnumbered 10 10 paragraph 1, Code Supplement 1993. 10 11 Sec. 12. 1994 Iowa Acts, Chapter 1183, section 57, is 10 12 amended to read as follows: 10 13 SEC. 57. Section 97B.73A, unnumbered paragraph 1, Code 10 14 Supplement 1993, is amended to read as follows: 10 15 A part-time county attorney may elect in writing to the 10 16 department to make employee contributions to the system for 10 17 the county attorney's previous service as a county attorney 10 18 and receive credit for membership service in the system for 10 19 the applicable period of service as a part-time county 10 20 attorney for which employee contributions are made. The 10 21 contributions paid by the member shall be equal to the 10 22 accumulated contributions, as defined in section 97B.41, 10 23 subsection 2, for the applicable period of membership service. 10 24 A member making contributions pursuant to this section may 10 25 make the contributions either for the entire applicable period 10 26 of service, or, effective upon the date that the department 10 27 determines that the amendments to this paragraph contained in 10 28 this Act shall be implemented, for portions of the period of 10 29 service, and if contributions are made for portions of the10 30period of service, the contributions shall be in increments of10 31one or more years, as long as the increments represent full10 32years and not a portion of a year. A member who elects to 10 33 make contributions under this section shall notify the county 10 34 board of supervisors of the member's election, and the county 10 35 board of supervisors shall pay to the department the employer 11 1 contributions that would have been contributed by the employer 11 2 under section 97B.11 plus interest on the contributions that 11 3 would have accrued if the county attorney had been a member of 11 4 the system for the applicable period of service. However, the 11 5 department shall not implement the amendments to this 11 6 paragraph, as enacted in this Act, unless and until the 11 7 department determines that the most recent annual actuarial 11 8 valuation of the retirement system indicates that the employer 11 9 and employee contribution rates in effect under section 97B.11 11 10 can absorb the amendments to this paragraph and to section 11 11 97B.66, unnumbered paragraphs 1 and 2, section 97B.72, 11 12 unnumbered paragraphs 1 and 2, section 97B.72A, subsection 1, 11 13 unnumbered paragraph 1, and section 97B.74, unnumbered 11 14 paragraphs 1 and 2, contained in this Act, after meeting the 11 15 other established priority of the system, as defined in 11 16 section 97B.66. Until the amendments are implemented, the 11 17 department shall continue to implement the provisions of 11 18 section 97B.73A, unnumbered paragraph 1, Code Supplement 1993. 11 19 Sec. 13. 1994 Iowa Acts, Chapter 1183, section 58, is 11 20 amended to read as follows: 11 21 SEC. 58. Section 97B.74, unnumbered paragraphs 1 and 2, 11 22 Code Supplement 1993, are amended to read as follows: 11 23 An active, vested, or retired member who was a member of 11 24 the system at any time on or after July 4, 1953, and who 11 25 received a refund of the member's contributions for that 11 26 period of membership service, may elect in writing to the 11 27 department to make contributions to the system for all or a 11 28 portion of the period of membership service for which a refund 11 29 of contributions was made, and receive credit for the period 11 30 of membership service for which contributions are made. The 11 31 contributions repaid by the member for such service shall be 11 32 equal to the accumulated contributions, as defined in section 11 33 97B.41, subsection 2, received by the member for the 11 34 applicable period of membership service plus interest on the 11 35 accumulated contributions for the applicable period from the 12 1 date of receipt by the member to the date of repayment equal 12 2 to two percent plus the interest dividend rate applicable for 12 3 each year compounded annually. 12 4 An active member must have at least one quarter's 12 5 reportable wages on file and have membership service, 12 6 including that period of membership service for which a refund 12 7 of contributions was made, sufficient to give the member 12 8 vested status. A member making contributions pursuant to this 12 9 section may make the contributions either for the entire 12 10 applicable period of service, or, effective upon the date that 12 11 the department determines that the amendments to this 12 12 paragraph and unnumbered paragraph 1 contained in this Act 12 13 shall be implemented, for portions of the period of service,12 14and if contributions are made for portions of the period of12 15service, the contributions shall be in increments of one or12 16more years, as long as the increments represent full years and12 17not a portion of a year. However, the department shall not 12 18 implement the amendments to this paragraph or unnumbered 12 19 paragraph 1, as enacted in this Act, unless and until the 12 20 department determines that the most recent annual actuarial 12 21 valuation of the retirement system indicates that the employer 12 22 and employee contribution rates in effect under section 97B.11 12 23 can absorb the amendments to this paragraph and to unnumbered 12 24 paragraph 1 and to section 97B.66, unnumbered paragraphs 1 and 12 25 2, section 97B.72, unnumbered paragraphs 1 and 2, section 12 26 97B.72A, subsection 1, unnumbered paragraph 1, and section 12 27 97B.73A, unnumbered paragraph 1, contained in this Act, after 12 28 meeting the other established priority of the system, as 12 29 defined in section 97B.66. Until the amendments are 12 30 implemented, the department shall continue to implement the 12 31 provisions of section 97B.74, unnumbered paragraphs 1 and 2, 12 32 Code Supplement 1993. 12 33 SF 487 12 34 pf/cc/26
Text: SF00486 Text: SF00488 Text: SF00400 - SF00499 Text: SF Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
Search: Senate Bills and Amendments (76th General Assembly)
© 1996 Cornell College and League of Women Voters of Iowa
Comments? webmaster@legis.iowa.gov.
Last update: Mon Mar 4 09:39:45 CST 1996
URL: /DOCS/GA/76GA/Legislation/SF/00400/SF00487/950503.html
jhf