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House Journal: Page 1805: Monday, April 22, 1996

Page  28

 1   department determines that the most recent annual
 2   actuarial valuation of the retirement system indicates
 3   that the employer and employee contribution rates in
 4   effect under section 97B.11 can absorb the enactment
 5   of this subsection and the amendments to section
 6   97B.41, subsection 12, section 97B.53, subsections 3
 7   and 7, and section 97B.53, subsection 6, unnumbered
 8   paragraph 1, contained in 1994 Iowa Acts, chapter
 9   1183, after meeting the other established priorities
10   of the system, as defined in section 97B.41,
11   subsection 12.
12     Sec. 53.  Section 97B.72, unnumbered paragraphs 1
13   and 2, Code Supplement 1995, are amended to read as
14   follows:
15     Persons who are members of the Seventy-first
16   General Assembly or a succeeding general assembly who
17   submit proof to the department of membership in the
18   general assembly during any period beginning July 4,
19   1953, may make contributions to the system for all or
20   a portion of the period of service in the general
21   assembly, and receive credit for the applicable period
22   for which contributions are made.  The contributions
23   made by the member shall be equal to the accumulated
24   contributions as defined in section 97B.41, subsection
25   2, which would have been made if the member of the
26   general assembly had been a member of the system
27   during the applicable period.  The proof of membership
28   in the general assembly and payment of accumulated
29   contributions shall be transmitted to the department.
30   A member making contributions pursuant to this section
31   may make the contributions either for the entire
32   applicable period of service, or, effective upon the
33   date that the department determines that the
34   amendments to this paragraph and unnumbered paragraph
35   2 contained in 1994 Iowa Acts, chapter 1183, shall be
36   implemented, for portions of the period of service,
37   and if contributions are made for portions of the
38   period of service, the contributions shall be in
39   increments of one or more years, as long as the
40   increments represent full years and not a portion of a
41   year calendar quarters.  However, the department
shall
42   not implement the amendments to this paragraph or
43   unnumbered paragraph 2, as enacted in 1994 Iowa Acts,
44   chapter 1183, unless and until the department
45   determines that the most recent annual actuarial
46   valuation of the retirement system indicates that the
47   employer and employee contribution rates in effect
48   under section 97B.11 can absorb the amendments to this
49   paragraph and unnumbered paragraph 2 and to section
50   97B.66, unnumbered paragraphs 1 and 2, section

Iowa General Assembly

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

© 1996 Cornell College and League of Women Voters of Iowa

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