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House Journal: Page 1786: Monday, April 22, 1996

Page   9

 1   covered wages in effect during the member's period of
 2   service.
 3     b.  Notwithstanding any other provisions of this
 4   subsection to the contrary, the three-year average
 5   covered wage shall be computed as follows for the
 6   following members:
 7     (1)  For a member who retires during the calendar
 8   year beginning January 1, 1997, and whose three-year
 9   average covered wage at the time of retirement exceeds
10   forty-eight thousand dollars, the member's covered
11   wages averaged for the highest four years of the
12   member's service or forty-eight thousand dollars,
13   whichever is greater.
14     (2)  For a member who retires during the calendar
15   year beginning January 1, 1998, and whose three-year
16   average covered wage at the time of retirement exceeds
17   fifty-two thousand dollars, the member's covered wages
18   averaged for the highest five years of the member's
19   service or fifty-two thousand dollars, whichever is
20   greater.
21     (3)  For a member who retires during the calendar
22   year beginning January 1, 1999, and whose three-year
23   average covered wage at the time of retirement exceeds
24   fifty-five thousand dollars, the member's covered
25   wages averaged for the highest six years of the
26   member's service or fifty-five thousand dollars,
27   whichever is greater.
28     (4)  For a member who retires on or after January
29   1, 2000, but before January 1, 2003, and whose three-
30   year average covered wage at the time of retirement
31   exceeds fifty-five thousand dollars, the member's
32   covered wages averaged for the highest seven years of
33   the member's service or fifty-five thousand dollars,
34   whichever is greater.
35     For purposes of this paragraph, the highest years
36   of the member's service shall be determined using
37   calendar years and may be determined using one
38   computed year calculated in the manner and subject to
39   the restrictions provided in paragraph "a".
40     Sec. 21.  Section 97B.41, subsection 20, paragraph
41   b, subparagraph (11), unnumbered paragraphs 1 and 2,
42   Code Supplement 1995, are amended by striking the
43   unnumbered paragraphs and inserting in lieu thereof
44   the following:
45     (11)  For the calendar year beginning January 1,
46   1991, wages not in excess of thirty-one thousand
47   dollars.
48     (11A)  For the calendar year beginning January 1,
49   1992, wages not in excess of thirty-four thousand
50   dollars.

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/01700/01786.html
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