Text: S05661                            Text: S05663
Text: S05600 - S05699                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

Senate Amendment 5662

Amendment Text

PAG LIN
  1  1    Amend House File 2496, as amended, passed, and
  1  2 reprinted by the House, as follows:
  1  3    #1.  Page 19, by striking lines 27 through 33 and
  1  4 inserting the following:
  1  5    "4.  a.  The first of any month in which a member
  1  6 meets the membership service and age requirements to
  1  7 retire under section 97B.49, subsection 15 the member
  1  8 is at least fifty-five years of age and for which the
  1  9 sum of the number of years of membership service and
  1 10 prior service and the member's age in years as of the
  1 11 member's last birthday equals or exceeds eighty-five.
  1 12    b.  The department shall implement this subsection
  1 13 on July 1, 1998, or on the date that the department
  1 14 determines that the most recent annual actuarial
  1 15 valuation of the system indicates that the employer
  1 16 and employee contribution rates in effect under
  1 17 section 97B.11 can absorb the costs of this subsection
  1 18 and the additional benefits provided to members of the
  1 19 system by this Act, whichever is later.  However,
  1 20 until this subsection is implemented, the department
  1 21 shall not credit amounts to active member supplemental
  1 22 accounts provided in section 97B.49H."
  1 23    #2.  Page 40, by inserting after line 32 the
  1 24 following:
  1 25    "e.  The member is an active or inactive vested
  1 26 member retiring on or after July 1, 1997, and before
  1 27 the implementation date provided in section 97B.45,
  1 28 subsection 4, paragraph "b", who is at least fifty-
  1 29 five years of age and for which the sum of the number
  1 30 of years of membership service and prior service and
  1 31 the member's age in years as of the member's last
  1 32 birthday equals or exceeds eighty-eight."
  1 33    #3.  By renumbering as necessary.  
  1 34 
  1 35 
  1 36                               
  1 37 TOM VILSACK 
  1 38 PATRICIA HARPER 
  1 39 STEVEN D. HANSEN 
  1 40 BILL FINK 
  1 41 MIKE CONNOLLY 
  1 42 ROBERT E. DVORSKY 
  1 43 DICK L. DEARDEN 
  1 44 MICHAEL E. GRONSTAL 
  1 45 DENNIS H. BLACK 
  1 46 ROD HALVORSON 
  1 47 JOHNIE HAMMOND 
  1 48 ELAINE SZYMONIAK 
  1 49 EUGENE S. FRAISE 
  1 50 PATTY JUDGE 
  2  1 PATRICK J. DELUHERY 
  2  2 WALLY E. HORN 
  2  3 DON GETTINGS 
  2  4 WILLIAM D. PALMER 
  2  5 JOHN P. KIBBIE 
  2  6 HF 2496.311 77
  2  7 ec/cf/28
     

Text: S05661                            Text: S05663
Text: S05600 - S05699                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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