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House Journal: Page 1824: Monday, April 22, 1996

Page  47

 1   years, prior to the effective date of the increase.
 2     (5)  Thirty-five dollars where the member's
 3   retirement date was at least twenty years prior to the
 4   effective date of the increase.
 5     c.  For beneficiaries receiving a pension under
 6   subsection 8 or 9, the applicable incremental amount
 7   shall be determined as set forth in paragraph "b",
 8   except that the date of the member's death shall be
 9   substituted for the member's retirement date.
10     Sec. 94.  Section 411.6, subsection 12, Code 1995,
11   is amended by adding the following new paragraph:
12     NEW PARAGRAPH.  e.  A retired member eligible for
13   benefits under this section and otherwise eligible for
14   the readjustment of benefits provided in this
15   subsection is not eligible for the readjustment unless
16   the member was retired on or before the effective date
17   of the readjustment.
18     Sec. 95.  Section 411.13, Code 1995, is amended to
19   read as follows:
20     411.13  EXEMPTION FROM EXECUTION AND OTHER PROCESS,
21   OR ASSIGNMENT - EXCEPTIONS.
22     The right of any person to a pension, annuity, or
23   retirement allowance, to the return of contributions,
24   the pension, annuity, or retirement allowance itself,
25   any optional benefit or death benefit, any other right
26   accrued or accruing to any person under this chapter,
27   and the moneys in the fire and police retirement fund
28   created under this chapter, are not subject to
29   execution, garnishment, attachment, or any other
30   process whatsoever, and are unassignable except for
31   the purposes of enforcing child, spousal, or medical
32   support obligations or marital property orders, or as
33   in this chapter otherwise specifically provided
in
34   this chapter.  For the purposes of enforcing child,
35   spousal, or medical support obligations, the
36   garnishment or attachment of or the execution against
37   compensation due a person under this chapter shall not
38   exceed the amount specified in 15 U.S.C. "/g" 1673(b).
39     Sec. 96.  NEW SECTION.  411.31  OPTIONAL TRANSFERS
40   WITH CHAPTER 97A.
41     1.  For purposes of this section, unless the
42   context otherwise requires:
43     a.  "Average accrued benefit" means the average of
44   the amounts representing the present value of the
45   accrued benefit earned by the member determined by the
46   former system and the present value of the accrued
47   benefit earned by the member determined by the current
48   system.
49     b.  "Current system" means the eligible retirement
50   system in which a person has commenced employment

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/01800/01824.html
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