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House Journal: Page 1823: Monday, April 22, 1996

Page  46

 1   member was retired at age fifty-five or greater, shall
 2   not again become a member of the retirement system and
 3   shall have the member's retirement allowance suspended
 4   while in active service.  If the rank or position held
 5   by the retired member is subsequently abolished,
 6   adjustments to the allowable limit on the amount of
 7   income which can be earned in a gainful occupation
 8   shall be computed in the same manner as provided in
 9   subsection 12, paragraph "c", of this section for
10   readjustment of pensions when a rank or position has
11   been abolished by the board of trustees as though
such
12   rank or position had not been abolished and salary
13   increases had been granted to such rank or position on
14   the same basis as increases granted to other ranks and
15   positions in the department.
16     Sec. 93.  Section 411.6, subsection 12, paragraphs
17   a through c, Code 1995, are amended by striking the
18   paragraphs and inserting in lieu thereof the
19   following:
20     a.  On each July 1, the monthly pensions authorized
21   in this section payable to retired members and to
22   beneficiaries shall be adjusted as provided in this
23   subsection.  An amount equal to the sum of one and
24   one-half percent of the monthly pension of each
25   retired member and beneficiary and the applicable
26   incremental amount shall be added to the monthly
27   pension of each retired member and beneficiary.  The
28   board of trustees shall report to the general assembly
29   every six years, by September 15 of that year,
30   beginning with September 15, 2001, on whether the
31   provisions of this subsection continue to provide an
32   equitable method for the annual readjustment of
33   pensions payable under this chapter.
34     b.  For purposes of this subsection, "applicable
35   incremental amount" means the following amount for
36   members receiving a pension under subsection 2, 4, or
37   6 and for beneficiaries receiving a pension under
38   subsection 11:
39     (1)  Fifteen dollars where the member's retirement
40   date was less than five years prior to the effective
41   date of the increase.
42     (2)  Twenty dollars where the member's retirement
43   date was at least five years, but less than ten years,
44   prior to the effective date of the increase.
45     (3)  Twenty-five dollars where the member's
46   retirement date was at least ten years, but less than
47   fifteen years, prior to the effective date of the
48   increase.
49     (4)  Thirty dollars where the member's retirement
50   date was at least fifteen years, but less than twenty

Iowa General Assembly

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

© 1996 Cornell College and League of Women Voters of Iowa

Comments? hjourn@legis.iowa.gov.

Last update: Tue Apr 23 13:30:03 CDT 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/01800/01823.html
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