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House Journal: Page 1858: Tuesday, April 21, 1998

40   senior years in high school and after the
41   participant's first year of postsecondary education.
42     4.  The participant and employer shall agree upon
43   set minimum academic standards which must be
44   maintained through the participant's secondary and
45   postsecondary education.
46     5.  This base wage paid to the participant shall
47   not be less than the minimum wage prescribed by Iowa
48   law or the federal Fair Labor Standards Act, whichever
49   is applicable.
50     6.  That in addition to the base wage paid to the

Page 18

 1   participant, the employer shall pay an additional sum
 2   to be held in trust to be applied toward the
 3   participant's postsecondary education required for
 4   completion of the certified program.  The additional
 5   amount must be not less than an amount determined by
 6   the department of economic development to be
 7   sufficient to provide payment of tuition expenses
 8   toward completion of not more than two academic years
 9   of the required postsecondary education component of
10   the certified program at an Iowa community college or
11   an Iowa public or private college or university.  This
12   amount shall be held in trust for the benefit of the
13   participant pursuant to rules adopted by the
14   department of economic development.  Payment into an
15   ERISA-approved fund for the benefit of the participant
16   shall satisfy this requirement.  The specific fund
17   shall be specified in the agreement.
18     7.  The participant's agreement to work for the
19   employer for at least two years following the
20   completion of the participant's postsecondary
21   education required by the certified program.  However,
22   the agreement may provide for additional education and
23   work commitments beyond the two years.
24     8.  If the participant does not complete the two-
25   year employment obligation, the participant's
26   agreement to repay to the employer the amount paid by
27   the employer toward the participant's postsecondary
28   education expenses pursuant to subsection 6.
29     9.  a.  That if a participant does not complete the
30   certified program contemplated by the agreement after
31   entering a postsecondary education program, any
32   unexpended funds being held in trust for the
33   participant's postsecondary education shall be paid
34   back to the employer.  In addition the participant
35   must repay to the employer amounts paid from the trust
36   which were expended on the participant's behalf for
37   postsecondary education.
38     b.  That if a participant does not complete the
39   certified program contemplated by the agreement prior

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URL: /DOCS/GA/77GA/Session.2/HJournal/01800/01858.html
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