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House Journal: Page 1782: Monday, April 22, 1996

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 1   retirement benefits specialist shall promptly notify
 2   the applicant and any other interested party of the
 3   decision and the reasons.  Unless the applicant or
 4   other interested party, within thirty calendar days
 5   after the notification was mailed to the applicant's
 6   or party's last known address, files an appeal as
 7   provided in section 97B.20A, the decision is final and
 8   benefits shall be paid or denied in accord with the
 9   decision.  A retirement application shall not be
10   amended or revoked by the member once the first
11   retirement allowance is paid.  A member's death during
12   the first month of entitlement shall not invalidate an
13   approved application.
14     Sec. 10.  Section 97B.39, Code 1995, is amended to
15   read as follows:
16     97B.39  RIGHTS NOT TRANSFERABLE _ NOT OR SUBJECT
17   TO LEGAL PROCESS _ EXCEPTIONS.
18     The right of any person to any future payment under
19   this chapter is not transferable or assignable, at law
20   or in equity, and the moneys paid or payable or rights
21   existing under this chapter are not subject to
22   execution, levy, attachment, garnishment, or other
23   legal process, or to the operation of any bankruptcy
24   or insolvency law except for the purposes of enforcing
25   child, spousal, or medical support obligations or
26   marital property orders.  For the purposes of
27   enforcing child, spousal, or medical support
28   obligations, the garnishment or attachment of or the
29   execution against compensation due a person under this
30   chapter 97B shall not exceed the amount specified in
31   15 U.S.C. "/g" 1673(b).  The department shall comply with
32   the provisions of a marital property order requiring
33   the selection of a particular benefit option,
34   designated beneficiary, or contingent annuitant if the
35   selection is otherwise authorized by this chapter and
36   the member has not received payment of the member's
37   first retirement allowance.  However, a marital
38   property order shall not require the payment of
39   benefits to an alternative payee prior to the member's
40   retirement, prior to the date the member elects to
41   receive a lump sum distribution of accumulated
42   contributions pursuant to section 97B.53, or in an
43   amount that exceeds the benefits the member would
44   otherwise be eligible to receive pursuant to this
45   chapter.
46     Sec. 11.  Section 97B.41, subsection 2, Code
47   Supplement 1995, is amended to read as follows:
48     2.  "Accumulated contributions" means the total
49   obtained as of any date, by accumulating each
50   individual contribution by the member at two percent

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 2)

© 1996 Cornell College and League of Women Voters of Iowa

Comments? hjourn@legis.iowa.gov.

Last update: Tue Apr 23 13:30:03 CDT 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/01700/01782.html
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