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House Journal: Page 1811: Monday, April 22, 1996

Page  34

 1   paragraph 1, as enacted in 1994 Iowa Acts, chapter
 2   1183, unless and until the department determines that
 3   the most recent annual actuarial valuation of the
 4   retirement system indicates that the employer and
 5   employee contribution rates in effect under section
 6   97B.11 can absorb the amendments to this paragraph and
 7   to unnumbered paragraph 1 and to section 97B.66,
 8   unnumbered paragraphs 1 and 2, section 97B.72,
 9   unnumbered paragraphs 1 and 2, section 97B.72A,
10   subsection 1, unnumbered paragraph 1, and section
11   97B.73A, unnumbered paragraph 1, contained in 1994
12   Iowa Acts, chapter 1183, after meeting the other
13   established priority of the system, as defined in
14   section 97B.66.  Until the amendments are implemented,
15   the department shall continue to implement the
16   provisions of section 97B.74, unnumbered paragraphs 1
17   and 2, Code Supplement 1993.
18     Sec. 62.  Section 97B.74, unnumbered paragraph 4,
19   Code Supplement 1995, is amended by striking the
20   unnumbered paragraph.
21     Sec. 63.  Section 97B.80, unnumbered paragraph 1,
22   Code 1995, is amended to read as follows:
23     Effective July 1, 1992, a vested or retired member,
24   who at any time served on active duty in the armed
25   forces of the United States, upon submitting
26   verification of the dates of the active duty service,
27   may make employer and employee contributions to the
28   system based upon the member's covered wages for the
29   most recent full calendar year in which the member had
30   reportable wages at the applicable rates in effect for
31   that year under sections 97B.11 and 97B.49, for all or
32   a portion of the period of time of the active duty
33   service, in increments of no greater than one year and
34   not less than one or more calendar quarter
quarters,
35   and receive credit for membership service and prior
36   service for the period of time for which the
37   contributions are made.  However, the member may not
38   make contributions in an increment of less than one
39   year more than once.  The member may also make one
40   lump sum contribution to the system which represents
41   the period of time of the active duty service, even if
42   the period of time exceeds one year.  If the member's
43   most recent covered wages were earned prior to the
44   most recent calendar year, the member's covered wages
45   shall be adjusted by the department by an inflation
46   factor to reflect changes in the economy.  The
47   department shall adjust benefits for a six-month
48   period prior to the date the member pays contributions
49   under this section if the member is receiving a
50   retirement allowance at the time the contribution

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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