Text: S05650 Text: S05652 Text: S05600 - S05699 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend House File 2496, as amended, passed, and
1 2 reprinted by the House, as follows:
1 3 #1. Page 95, by inserting after line 26 the
1 4 following:
1 5 "Sec. ___. DEVELOPMENT OF PUBLIC RETIREMENT SYSTEM
1 6 FINANCIAL REPORTING METHOD – REPORT.
1 7 1. The Iowa public employees' retirement system,
1 8 the statewide fire and police retirement system, the
1 9 public safety peace officers' retirement, accident,
1 10 and disability system, and the judicial retirement
1 11 system, hereafter "the systems", shall conduct a study
1 12 to determine the differences among the systems'
1 13 methods of reporting actuarial information concerning
1 14 the financial status of each respective retirement
1 15 system and shall develop a proposed uniform method for
1 16 reporting that actuarial information. The systems, in
1 17 developing a proposed uniform reporting method, should
1 18 attempt to provide consistent requirements for
1 19 reporting financial information about each retirement
1 20 system that can be used by the public retirement
1 21 systems committee and the general assembly in
1 22 examining and comparing the relative financial
1 23 condition of each retirement system. On or before
1 24 September 1, 1999, the systems shall file a report
1 25 with the legislative service bureau, for distribution
1 26 to the public retirement systems committee, which
1 27 contains the results of the study and any proposal or
1 28 proposals concerning the adoption of a uniform
1 29 financial reporting method. It is the intent of the
1 30 general assembly that the development of a uniform
1 31 method of providing financial information to the
1 32 general assembly pursuant to this section should not
1 33 in any way require each public retirement system to
1 34 adopt the same actuarial reporting system for purposes
1 35 of preparing the annual actuarial valuation of each
1 36 retirement system.
1 37 2. Each retirement system shall submit a financial
1 38 report to the general assembly by December 1, 1999,
1 39 based upon the proposed uniform financial reporting
1 40 method developed by the systems pursuant to the report
1 41 required by this section and using the most recent
1 42 annual actuarial evaluation of each retirement system.
1 43 If a proposed uniform financial reporting method is
1 44 not yet developed by the systems, each retirement
1 45 system shall submit a financial report to the general
1 46 assembly by December 1, 1999, based upon the most
1 47 recent annual actuarial valuation of the system and
1 48 using the aggregate cost method in accordance with
1 49 generally recognized and accepted actuarial principles
1 50 and practices set forth by the American academy of
2 1 actuaries."
2 2 #2. By renumbering as necessary.
2 3
2 4
2 5
2 6 ROD HALVORSON
2 7 HF 2496.211 77
2 8 ec/jl/28
Text: S05650 Text: S05652 Text: S05600 - S05699 Text: S Index Bills and Amendments: General Index Bill History: General Index
© 1998 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Wed Apr 15 03:46:18 CDT 1998
URL: /DOCS/GA/77GA/Legislation/S/05600/S05651/980414.html
jhf