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 1795: Monday, April 22, 1996

Page  18

 1   greater.  The retirement dividend does not affect the
 2   amount of a monthly benefit payment.
 3     Sec. 34.  Section 97B.49, subsection 16, paragraph
 4   e, Code Supplement 1995, is amended to read as
 5   follows:
 6     e.  Annually, the department of personnel shall
 7   actuarially determine the cost of the additional
 8   benefits provided for members covered under paragraph
 9   "a" and the cost of the additional benefits provided
10   for members covered under paragraph "b" as percents of
11   the covered wages of the employees covered by this
12   subsection.  Sixty percent of the cost shall be paid
13   by the employers of employees covered under this
14   subsection and forty percent of the cost shall be paid
15   by the employees.  The employer and employee
16   contributions required under this paragraph are in
17   addition to the contributions paid under section
18   sections 97B.11 and 97B.11A.
19     Sec. 35.  Section 97B.49, subsection 16, Code
20   Supplement 1995, is amended by adding the following
21   new paragraph:
22     NEW PARAGRAPH.  m.  For the fiscal year commencing
23   July 1, 1992, and each succeeding fiscal year, the
24   department of public safety shall pay to the
25   department of personnel from funds appropriated to the
26   department of public safety, the amount necessary to
27   pay the employer share of the cost of the additional
28   benefits provided to a fire prevention inspector peace
29   officer pursuant to paragraph "d", subparagraph (8).
30     Sec. 36.  Section 97B.49, Code Supplement 1995, is
31   amended by adding the following new subsection:
32     NEW SUBSECTION.  17.  a.  An active or inactive
33   vested member, who is or has been employed in both
34   special service and regular service, who retires on or
35   after July 1, 1996, with four or more completed years
36   of service and at the time of retirement is at least
37   fifty-five years of age, may elect to receive, in lieu
38   of the receipt of any other benefits under this
39   section, a combined monthly retirement allowance equal
40   to the sum of the following:
41     (1)  One-twelfth of an amount equal to the
42   applicable percentage multiplier established in
43   subsection 5 of the member's three-year average
44   covered wage multiplied by a fraction of years of
45   service.  The fraction of years of service for
46   purposes of this subparagraph shall be the actual
47   years of service, not to exceed twenty-two, earned in
48   a position described in subsection 16, paragraph "b",
49   for which special service contributions were made,
50   divided by twenty-two.

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/01700/01795.html
jhf