Text: HF02042 Text: HF02044 Text: HF02000 - HF02099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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 1. 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 and sixty-five 1 10 years of age who notify the board of directors prior to March 1 11 1 of the fiscal year that they intend to retire not later than 1 12 the next following June 30. An employee retiring under this 1 13sectionsubsection shall apply for a retirement allowance 1 14 under chapter 97B or chapter 294. If the total estimated 1 15 accumulated cost to a school district of the health or medical 1 16 insurance coverage, bonus, or other incentives for employees 1 17 who retire under thissectionsubsection does not exceed the 1 18 estimated savings in salaries and benefits for employees who 1 19 replace the employees who retire under the program provided in 1 20 this subsection, the board may include in the district 1 21 management levy an amount to pay the costs of the program 1 22 provided in thissectionsubsection. 1 23 2. a. The board of directors of a school district may 1 24 adopt a program for the continuation of health or medical 1 25 insurance coverage to encourage its employees to retire before 1 26 the normal retirement date as defined in chapter 97B. 1 27 b. A program adopted pursuant to this subsection shall be 1 28 available only to employees between fifty-five and sixty-five 1 29 years of age who notify the board of directors prior to 1 30 February 1 of the fiscal year that they intend to retire not 1 31 later than the next following June 30 and that they intend to 1 32 apply for the program provided in this subsection. An 1 33 employee retiring and seeking to participate in the program 1 34 provided under this subsection shall apply for a retirement 1 35 allowance under chapter 97B or 294. 2 1 c. The board of directors shall notify the department of 2 2 education by February 15 of each year of the number of 2 3 employees participating or seeking to participate in the 2 4 program provided in this subsection and the anticipated total 2 5 cost of the program for the fiscal year commencing on July 1 2 6 of that year. 2 7 d. The cost of a program adopted pursuant to this 2 8 subsection shall be shared equally by the retired school 2 9 employee, the school district from which the employee retired, 2 10 and the state. 2 11 If the total estimated accumulated cost to a school 2 12 district of the health or medical insurance coverage for 2 13 employees who retire under this subsection does not exceed the 2 14 estimated savings in salaries and benefits for employees who 2 15 replace the employees who retire under the program, the board 2 16 may include in the district management levy an amount to pay 2 17 the school district's share of the costs of the program as 2 18 provided in this subsection. 2 19 There shall be appropriated annually from the general fund 2 20 of the state to the department of education an amount 2 21 sufficient to fund the state's share of the costs associated 2 22 with the program provided in this subsection. 2 23 EXPLANATION 2 24 This bill provides that a school district may offer a 2 25 program to provide for the cost of health or medical insurance 2 26 coverage until age 65 for school employees who retire between 2 27 the ages of 55 and 65. An employee seeking to participate in 2 28 this program shall notify the school district by February 1 of 2 29 each fiscal year that they intend to retire by the following 2 30 June 30 and participate in this program. The costs of this 2 31 program shall be paid equally by the retiree, the applicable 2 32 school district, and the state. The school district may pay 2 33 its portion of the costs of this program through the district 2 34 management levy if the savings to the district pursuant to the 2 35 employee's retirement is insufficient to pay the district's 3 1 share of the cost. The bill also provides a standing 3 2 appropriation to the department of education in an amount 3 3 sufficient during each fiscal year to pay the state's portion 3 4 of the cost of the program. 3 5 LSB 3079YH 77 3 6 ec/jw/5
Text: HF02042 Text: HF02044 Text: HF02000 - HF02099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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