Text: H08402 Text: H08404 Text: H08400 - H08499 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend Senate File 2411, as amended, passed, and
1 2 reprinted by the Senate, as follows:
1 3 #1. Page 17, by inserting after line 18 the
1 4 following:
1 5 "Sec. . Section 97B.39, Code 1999, is amended
1 6 to read as follows:
1 7 97B.39 RIGHTS NOT TRANSFERABLE OR SUBJECT TO LEGAL
1 8 PROCESS – EXCEPTIONS.
1 9 The right of any person to any future payment under
1 10 this chapter is not transferable or assignable, at law
1 11 or in equity, and the moneys paid or payable or rights
1 12 existing under this chapter are not subject to
1 13 execution, levy, attachment, garnishment, or other
1 14 legal process, or to the operation of any bankruptcy
1 15 or insolvency law except for the purposes of enforcing
1 16 child, spousal, or medical support obligations or
1 17 marital property orders. For the purposes of
1 18 enforcing child, spousal, or medical support
1 19 obligations, the garnishment or attachment of or the
1 20 execution against compensation due a person under this
1 21 chapter shall not exceed the amount specified in 15
1 22 U.S.C. } 1673(b). The department shall comply with
1 23 the provisions of a marital property order requiring
1 24 the selection of a particular benefit option,
1 25 designated beneficiary, or contingent annuitant if the
1 26 selection is otherwise authorized by this chapter and
1 27 the member has not received payment of the member's
1 28 first retirement allowance. However, a marital
1 29 property order shall not require the payment of
1 30 benefits to an alternative payee prior to the member's
1 31 retirement, prior to the date the member elects to
1 32 receive a lump sum distribution of accumulated
1 33 contributions pursuant to section 97B.53, or in an
1 34 amount that exceeds the benefits the member would
1 35 otherwise be eligible to receive pursuant to this
1 36 chapter. In addition, a valid marital property order
1 37 for the purposes of this section shall provide for the
1 38 payment of an amount from the member, once the member
1 39 retires, based upon a percentage of the benefit the
1 40 member would be eligible to receive as of the date of
1 41 the order if the member retired as of that date."
1 42 #2. By renumbering as necessary.
1 43
1 44
1 45
1 46 FREVERT of Palo Alto
1 47 SF 2411.708 78
1 48 ec/cls
Text: H08402 Text: H08404 Text: H08400 - H08499 Text: H Index Bills and Amendments: General Index Bill History: General Index
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