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House Journal: Page 1806: Monday, April 22, 1996

Page  29

 1   97B.72A, subsection 1, unnumbered paragraph 1, section
 2   97B.73A, unnumbered paragraph 1, and section 97B.74,
 3   unnumbered paragraphs 1 and 2, contained in 1994 Iowa
 4   Acts, chapter 1183, after meeting the other
 5   established priority of the system, as defined in
 6   section 97B.66.  Until the amendments are implemented,
 7   the department shall continue to implement the
 8   provisions of section 97B.72, unnumbered paragraphs 1
 9   and 2, Code Supplement 1993.
10     There is appropriated from moneys available to the
11   general assembly under section 2.12 an amount
12   sufficient to pay the contributions of the employer
13   based on the period of service for which the members
14   have paid accumulated contributions in an amount equal
15   to the contributions which would have been made if the
16   members of the general assembly who made employee
17   contributions had been members of the system during
18   the applicable period of service in the general
19   assembly plus two percent interest plus and
interest
20   dividends at the rate provided in section 97B.70 for
21   all completed calendar years, and for any completed
22   calendar year for which the interest dividend has not
23   been declared and for completed months of partially
24   completed calendar years at two percent interest plus
25   the interest dividend rate calculated for the previous
26   year, compounded annually, from the end of the
27   calendar year in which contribution was made to the
28   first day of the month of such date as provided in
29   section 97B.70.
30     Sec. 54.  Section 97B.72, unnumbered paragraph 3,
31   Code Supplement 1995, is amended to read as follows:
32     However, effective January 1, 1994, the department
33   shall ensure that the member, in exercising an option
34   provided in this section, does not exceed the amount
35   of annual additions to a member's account permitted
36   pursuant to section 415 of the federal Internal
37   Revenue Code.
38     Sec. 55.  Section 97B.72A, subsection 1, Code
39   Supplement 1995, is amended to read as follows:
40     1.  An active or A vested or retired member
of the
41   system who was a member of the general assembly prior
42   to July 1, 1988, may make contributions to the system
43   for all or a portion of the period of service in the
44   general assembly.  The contributions made by the
45   member shall be equal to the accumulated contributions
46   as defined in section 97B.41, subsection 2, which
47   would have been made if the member of the general
48   assembly had been a member of the system during the
49   applicable period of service in the general assembly.
50   A member making contributions pursuant to this 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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Last update: Tue Apr 23 13:30:03 CDT 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/01800/01806.html
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