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House Journal: Page 1816: Monday, April 22, 1996

Page  39

 1   retirement allowance in a lesser retirement allowance
 2   payable throughout life with the provision that an
 3   amount in money not exceeding the amount of the
 4   beneficiary's accumulated contributions shall be
 5   immediately paid in cash to such member or some other
 6   benefit or benefits shall be paid either to the member
 7   or to such person or persons as the member shall
 8   nominate, provided such cash payment or other benefit
 9   or benefits, together with the lesser retirement
10   allowance, shall be certified by the state
11   commissioner of insurance actuary to be of
equivalent
12   actuarial value to the member's retirement allowance
13   and shall be approved by the board of trustees;
14   provided, that a cash payment to such member or
15   beneficiary at the time of retirement of an amount not
16   exceeding fifty percent of the member's or
17   beneficiary's accumulated contributions shall be made
18   by the board of trustees upon said member's or
19   beneficiary's election.
20     Sec. 78.  Section 97A.6, subsection 12, unnumbered
21   paragraph 1, Code 1995, is amended to read as follows:
22     Pension to surviving spouse and children of
23   deceased pensioned members.  In the event of the death
24   of any member receiving a retirement allowance under
25   the provisions of subsections 2, 2A, 4, or 6 of this
26   section there shall be paid a pension:
27     Sec. 79.  Section 97A.6, subsection 12, paragraph
28   a, Code 1995, is amended to read as follows:
29     a.  To the member's surviving spouse, equal to one-
30   half the amount received by the deceased beneficiary,
31   but in no instance less than an amount equal to twenty
32   twenty-five percent of the monthly earnable
33   compensation paid to an active member having the rank
34   of senior patrol officer of the Iowa highway safety
35   patrol, and in addition a monthly pension equal to the
36   monthly pension payable under subsection 9, paragraph
37   "c," of this section for each child under eighteen
38   years of age or twenty-two years of age if applicable;
39   or
40     Sec. 80.  Section 97A.6, subsection 14, paragraph
41   a, subparagraphs (1), (2), and (3), Code 1995, are
42   amended to read as follows:
43     (1)  Twenty-five Thirty percent for members
44   receiving a service retirement allowance and for
45   beneficiaries receiving a pension under subsection 9
46   of this section.  However, effective July 1, 1990, for
47   members who retired before that date, thirty percent
48   shall be the applicable percentage for members and
49   beneficiaries under this subparagraph.
50     (2)  Twenty-five Thirty percent for members with

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/01800/01816.html
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