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House Journal: Page 1799: Monday, April 22, 1996

Page  22

 1     c.  For service as a sheriff, deputy sheriff, or
 2   airport fire fighter, as provided in section 97B.49,
 3   subsection 16, paragraph "b", the applicable
 4   denominator is twenty-two.
 5     Effective July 1, 1978, a method of payment under
 6   this subsection filed with the department by a member
 7   does not apply.
 8     Sec. 42.  Section 97B.52, subsection 3, paragraph
 9   b, Code Supplement 1995, is amended to read as
10   follows:
11     b.  If a death benefit is due and payable, interest
12   shall continue to accumulate through the month
13   preceding the month in which payment is made to the
14   designated beneficiary, heirs at law, or the estate
15   unless the payment of the death benefit is delayed
16   because of a dispute between alleged heirs, in which
17   case the benefit due and payable shall be placed in a
18   noninterest bearing escrow account until the
19   beneficiary is determined in accordance with this
20   section.  In order to receive the death benefit, the
21   beneficiary, heirs at law, or the estate, or any other
22   third-party payee, must apply to the department within
23   two five years of the member's death.
24     The department shall reinstate a designated
25   beneficiary's right to receive a death benefit beyond
26   the five-year limitation if the designated beneficiary
27   was the member's spouse at the time of the member's
28   death and the distribution is required or permitted
29   pursuant to Internal Revenue Code section 401(a)(9)
30   and the applicable treasury regulations.
31     Sec. 43.  Section 97B.52, subsection 5, Code
32   Supplement 1995, is amended to read as follows:
33     5.  Following written notification to the
34   department, a beneficiary of a deceased member may
35   waive current and future rights to payments to which
36   the beneficiary would otherwise be entitled under
37   sections 97B.51 and this section.  Upon receipt of the
38   waiver, the department shall pay to the estate of the
39   deceased member the amount designated to be received
40   by the that beneficiary to the member's other
41   surviving beneficiary or beneficiaries or to the
42   estate of the deceased member, as elected by the
43   beneficiary in the waiver.  If the payments being
44   waived are payable to the member's estate and an
45   estate is not probated, the payments shall be paid to
46   the deceased member's surviving spouse, or if there is
47   no surviving spouse, to the member's heirs other than
48   the beneficiary who waived the payments.
49     Sec. 44.  Section 97B.52A, Code Supplement 1995, is
50   amended by adding the following new subsection:

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/01700/01799.html
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