Text: H08388                            Text: H08390
Text: H08300 - H08399                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

House Amendment 8389

Amendment Text

PAG LIN
  1  1    Amend House File 2496 as follows:
  1  2    #1.  Page 16, by striking lines 6 through 12 and
  1  3 inserting the following:
  1  4    "(1)  The first of any month in which a member
  1  5 meets the membership service and age requirements to
  1  6 retire under section 97B.49, subsection 15 the member
  1  7 is at least fifty-five years of age and for which the
  1  8 sum of the number of years of membership service and
  1  9 prior service and the member's age in years as of the
  1 10 member's last birthday equals or exceeds eighty-five.
  1 11    (2)  The department shall implement this subsection
  1 12 on July 1, 1998, or on the date that the department
  1 13 determines that the most recent annual actuarial
  1 14 valuation of the system indicates that the employer
  1 15 and employee contribution rates in effect under
  1 16 section 97B.11 can absorb the costs of this
  1 17 subsection, whichever is later.  However, until this
  1 18 subsection is implemented, the department shall not
  1 19 pay a dividend adjustment pursuant to section 97B.49F,
  1 20 subsection 1."
  1 21    #2.  Page 36, by inserting after line 8 the
  1 22 following:
  1 23    "d.  The member is an active or inactive vested
  1 24 member retiring on or after July 1, 1997, and before
  1 25 the implementation date provided in section 97B.45,
  1 26 subsection 4, subparagraph (2), who is at least fifty-
  1 27 five years of age and for which the sum of the number
  1 28 of years of membership service and prior service and
  1 29 the member's age in years as of the member's last
  1 30 birthday equals or exceeds eighty-eight."
  1 31    #3.  By renumbering as necessary.  
  1 32 
  1 33 
  1 34                               
  1 35 LARKIN of Lee 
  1 36 HF 2496.308 77
  1 37 ec/cf/28
     

Text: H08388                            Text: H08390
Text: H08300 - H08399                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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