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House Journal: Page 1841: Monday, April 22, 1996

 7   DESIGN FOR THE IOWA PUBLIC EMPLOYEES' RETIREMENT
 8   SYSTEM - REPORT.  The Iowa public employees'
 9   retirement system division, in consultation with the
10   public retirement systems committee established in
11   section 97D.4, shall conduct a comprehensive
12   examination of the plan design of the Iowa public
13   employees' retirement system, pursuant to the
14   principles established in chapter 97D, and make
15   recommendations for plan improvement.
16     In conducting the examination, the division shall
17   consider and develop recommendations concerning
18   establishment of the following:
19     1.  Objective actuarial standards to determine the
20   funded status of the system, including recommended
21   minimum standards to determine whether the system is
22   fully funded, and to develop safeguards to ensure that
23   the system remains fully funded based on those
24   standards.
25     2.  Equitable contribution rates for both employers
26   and employees, to include consideration of proposals
27   to provide for equal employer and employee
28   contribution rates and proposals to increase or
29   decrease contribution rates based on the funded status
30   of the system.
31     3.  Establishing a schedule for implementing the
32   recommendations.
33     On or before September 1, 1997, the Iowa public
34   employees' retirement system division shall file a
35   report with the legislative service bureau, for
36   distribution to the public retirement systems
37   committee, which contains the results of the
38   comprehensive examination and any proposal, or
39   proposals, for improving plan design of the Iowa
40   public employees' retirement system.  The report shall
41   also contain actuarial information concerning the
42   costs of the proposal or proposals."
43     2.  By renumbering as necessary.
Amendment H-6033 was adopted.
Rants of Woodbury offered the following amendment H-5963, to the
committee amendment H-5515, filed by him and moved its adoption:

H-5963

 1     Amend the amendment, H-5515, to Senate File 2245,
 2   as amended, passed, and reprinted by the Senate, as
 3   follows:
 4     1.  Page 48, by inserting after line 37 the
 5   following:
 6     "Sec. ___.  Section 411.36, subsection 1, paragraph
 7   a, Code Supplement 1995, is amended to read as
 8   follows:

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/01800/01841.html
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