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House Journal: Page 1813: Monday, April 22, 1996

Page  36

 1     NEW PARAGRAPH.  e.  A pension and annuity
 2   retirement system governed by chapter 294.
 3     Sec. 68.  Section 12B.10B, subsection 3, Code 1995,
 4   is amended by adding the following new paragraph e and
 5   relettering the subsequent paragraphs:
 6     NEW PARAGRAPH.  e.  A pension and annuity
 7   retirement system governed by chapter 294.
 8     Sec. 69.  Section 12B.10C, Code 1995, is amended by
 9   adding the following new subsection 4 and renumbering
10   the subsequent subsections:
11     NEW SUBSECTION.  4.  A pension and annuity
12   retirement system governed by chapter 294.
13     Sec. 70.  NEW SECTION.  294.10B  RIGHTS NOT
14   TRANSFERABLE - NOT SUBJECT TO LEGAL PROCESS.
15     The right of any person to any future payment under
16   a pension and annuity retirement system established in
17   this chapter shall not be transferable or assignable,
18   at law or in equity, and shall not be subject to
19   execution, levy, attachment, garnishment, or other
20   legal process, or to the operation of any bankruptcy
21   or insolvency law, except for the purposes of
22   enforcing child, spousal, or medical support
23   obligations, or marital property orders.  For the
24   purposes of enforcing child, spousal, or medical
25   support obligations, the garnishment or attachment of
26   or the execution against benefits due a person under
27   such a retirement system shall not exceed the amount
28   specified in 15 U.S.C. "/g" 1673(b).
29                           DIVISION III
30   PUBLIC SAFETY PEACE OFFICERS' RETIREMENT,
31         ACCIDENT, AND DISABILITY SYSTEM
32     Sec. 71.  Section 97A.5, subsection 9, Code 1995,
33   is amended to read as follows:
34     9.  DUTIES OF COMMISSIONER OF INSURANCE ACTUARY.
35   The state commissioner of insurance actuary hired by
36   the board of trustees shall be the technical advisor
37   of the board of trustees on matters regarding the
38   operation of the funds created by the provisions of
39   this chapter and shall perform such other duties as
40   are required in connection therewith.
41     Sec. 72.  Section 97A.5, subsections 10 through 12,
42   Code 1995, are amended to read as follows:
43     10.  TABLES - RATES.  Immediately after the
44   establishment of this system, the state commissioner
45   of insurance The actuary hired by the board of
46   trustees shall make such investigation of anticipated
47   interest earnings and of the mortality, service, and
48   compensation experience of the members of the system
49   as the actuary shall recommend and the board of
50   trustees shall authorize recommends, and on the
basis

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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