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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