Text: H08526 Text: H08528 Text: H08500 - H08599 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 19, by inserting after line 19 the
1 4 following:
1 5 "Sec. . Section 97B.48, subsection 3, Code
1 6 1999, is amended to read as follows:
1 7 3. As of the first of the month in which a member
1 8 attains the age of seventy years, the department shall
1 9 provide written notification to the member that the
1 10 member may commence receiving a retirement allowance
1 11 regardless of the member's employment status. Prior
1 12 to receiving a retirement allowance pursuant to this
1 13 subsection, a member shall acknowledge in writing that
1 14 the member was informed by the department of the
1 15 consequences of electing to receive a retirement
1 16 allowance pursuant to this subsection and that receipt
1 17 of a retirement allowance under this subsection is
1 18 optional. Upon termination from employment of a
1 19 member receiving a retirement allowance pursuant to
1 20 this subsection, the member is entitled to have the
1 21 member's monthly retirement allowance recalculated
1 22 using the applicable formula for determining a
1 23 retirement allowance pursuant to sections 97B.49A
1 24 through 97B.49G, as applicable, in place at the time
1 25 of the member's first month of entitlement."
1 26 #2. Page 55, by inserting after line 16 the
1 27 following:
1 28 "Sec. 101. IOWA PUBLIC EMPLOYEES' RETIREMENT
1 29 SYSTEM – PAYMENT OF ALLOWANCES – ACTIVE MEMBER
1 30 RETIREMENT. Notwithstanding any provision of chapter
1 31 97B to the contrary, an eligible member who terminates
1 32 employment covered by chapter 97B on or after January
1 33 1, 2000, shall have the member's monthly retirement
1 34 allowance recalculated using the applicable formula
1 35 for determining a retirement allowance pursuant to
1 36 sections 97B.49A through 97B.49G, as applicable, in
1 37 place at the time of the member's termination from
1 38 employment. For purposes of this section, an
1 39 "eligible member" is a member who commenced receiving
1 40 a retirement allowance pursuant to section 97B.48,
1 41 subsection 3, prior to July 1, 2000."
1 42 #3. Page 55, by inserting after line 21 the
1 43 following:
1 44 "Sec. . EFFECTIVE DATE – RETROACTIVE
1 45 APPLICABILITY. Section 101 of this Act, being deemed
1 46 of immediate importance, takes effect upon enactment
1 47 and is retroactively applicable to January 1, 2000,
1 48 and is applicable on and after that date."
1 49 #4. By renumbering as necessary.
1 50
2 1
2 2
2 3 JACOBS of Polk
2 4
2 5
2 6
2 7 MARTIN of Scott
2 8 SF 2411.219 78
2 9 ec/gg
Text: H08526 Text: H08528 Text: H08500 - H08599 Text: H Index Bills and Amendments: General Index Bill History: General Index
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