This file contains STRIKE and UNDERSCORE. If you cannot see either STRIKE or UNDERSCORE attributes or would like to change how these attributes are displayed, please use the following form to make the desired changes.

House Journal: Page 1788: Monday, April 22, 1996

Page  11

 1   are terminating covered employment pursuant to section
 2   97B.53.  However, if an employee joins another
 3   publicly maintained retirement system and leaves the
 4   employee's accumulated contributions in the retirement
 5   fund, the employee shall not be eligible to receive
 6   retirement benefits until the employee has a bona fide
 7   retirement from employment with a covered employer as
 8   provided in section 97B.52A, or until the employee
 9   would otherwise be eligible to receive benefits upon
10   attaining the age of seventy years as provided in
11   section 97B.46.
12     Sec. 24.  Section 97B.42, unnumbered paragraph 4,
13   Code 1995, is amended to read as follows:
14     Persons who are members of any other retirement
15   system in the state which is maintained in whole or in
16   part by public contributions other than persons who
17   are covered under the provisions of chapter 97, Code
18   1950, as amended by the Fifty-fourth General Assembly
19   on the date of the repeal of said chapter, under the
20   provisions of sections 97.50 through 97.53 shall not
21   become members under this chapter while still actively
22   participating in that other retirement system unless
23   the persons do not receive retirement credit for
24   service in that other system for the position to be
25   covered under this chapter.
26     Sec. 25.  Section 97B.42, unnumbered paragraph 5,
27   Code 1995, is amended to read as follows:
28     Nothing herein contained shall be construed to
29   permit any person in public employment to be an active
30   member of employer to make any public contributions
or
31   payments on behalf of an employee in the same position
32   for the same period of time to both the Iowa public
33   employees' retirement system and of any other
34   retirement system in the state which is supported in
35   whole or in part by public contributions or payments
36   except as heretofore provided.
37     Sec. 26.  Section 97B.42, Code 1995, is amended by
38   adding the following new unnumbered paragraph:
39     NEW UNNUMBERED PARAGRAPH.  For purposes of this
40   section, a "retirement system in the state which is
41   maintained in whole or in part by public contributions
42   or payments" shall not include a deferred compensation
43   plan established under section 509A.12 or a tax-
44   sheltered annuity qualified under section 403(b) of
45   the Internal Revenue Code.
46     Sec. 27.  Section 97B.48, subsection 1, Code 1995,
47   is amended to read as follows:
48     1.  Retirement allowances shall be paid monthly,
49   except that an allowance of less than six hundred
50   dollars a year may, at the member's option, be paid as

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/01700/01788.html
jhf