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Text: HF00318                           Text: HF00320
Text: HF00300 - HF00399                 Text: HF Index
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House File 319

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 279.46, Code 1997, is amended to read
  1  2 as follows:
  1  3    279.46  RETIREMENT INCENTIVES – TAX.
  1  4    The board of directors of a school district may adopt a
  1  5 program for payment of a monetary bonus, continuation of
  1  6 health or medical insurance coverage, or other incentives for
  1  7 encouraging its employees to retire before the normal
  1  8 retirement date as defined in chapter 97B.  The program is
  1  9 available only to employees between fifty-nine fifty-five and
  1 10 sixty-five years of age who notify the board of directors
  1 11 prior to March April 1 of the fiscal year that they intend to
  1 12 retire not later than the next following June 30.  However,
  1 13 the age at which employees shall be designated eligible for
  1 14 the program, within the age range of fifty-five to sixty-five
  1 15 years of age, shall be at the discretion of the board.  An
  1 16 employee retiring under this section shall apply for a
  1 17 retirement allowance under chapter 97B or chapter 294.  If The
  1 18 board may include in the district management levy an amount to
  1 19 pay the total estimated accumulated cost to a the school
  1 20 district of the health or medical insurance coverage, bonus,
  1 21 or other incentives for employees who retire under this
  1 22 section does not exceed the estimated savings in salaries and
  1 23 benefits for employees who replace the employees who retire
  1 24 under the program, the board may include in the district
  1 25 management levy an amount to pay the costs of the program
  1 26 provided in this section.
  1 27    Sec. 2.  EFFECTIVE DATE AND RETROACTIVE APPLICABILITY.  The
  1 28 section of this Act that amends section 279.46, being deemed
  1 29 of immediate importance, takes effect upon enactment and
  1 30 applies retroactively to retirement incentive programs in
  1 31 existence on December 31, 1996.  
  1 32                           EXPLANATION
  1 33    This bill makes changes affecting the retirement incentive
  1 34 programs school districts may offer to employees and pay for
  1 35 through the district management levy.  Currently, districts
  2  1 can pay for the program through the district management levy
  2  2 if the program is offered to employees between the ages of 59
  2  3 and 65 and if the total estimated accumulated program cost to
  2  4 the school district does not exceed the estimated savings.
  2  5 Under the bill, the age limit is reduced to age 55, and a
  2  6 district may include in the district management levy an amount
  2  7 to pay the total estimated accumulated program cost to the
  2  8 district, whether or not the cost exceeds savings.  Under the
  2  9 bill, this provision would take effect upon enactment and
  2 10 apply retroactively to retirement incentive programs in
  2 11 existence on December 31, 1996.  
  2 12 LSB 2114HH 77
  2 13 kh/jj/8
     
Text: HF00318                           Text: HF00320
Text: HF00300 - HF00399                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index
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