Text: HF02078 Text: HF02080 Text: HF02000 - HF02099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 97B.48A, subsection 1, unnumbered
1 2 paragraph 1, Code 1999, is amended to read as follows:
1 3 If a member who has not reached the member's sixty-fifth
1 4 birthday and who has a bona fide retirement under this chapter
1 5 is in regular full-time employment during a calendar year, the
1 6 member's retirement allowance shall be reduced by fifty cents
1 7 for each dollar the member earns over the limit provided in
1 8 this subsection. However, employment is not full-time
1 9 employment until the member receives remuneration in an amount
1 10 in excess of twelve thousand dollars for a calendar year, or
1 11 an amount equal to the amount of remuneration permitted for a
1 12 calendar year for persons under sixty-five years of age before
1 13 a reduction in federal social security retirement benefits is
1 14 required, whichever is higher. In addition, the reduction in
1 15 a member's retirement allowance shall not apply if the member
1 16 is employed as a teacher in a teaching discipline shortage
1 17 area as designated by the director of the department of
1 18 education pursuant to section 261.111. Effective the first of
1 19 the month in which a member attains the age of sixty-five
1 20 years, a retired member may receive a retirement allowance
1 21 without a reduction after return to covered employment
1 22 regardless of the amount of remuneration received.
1 23 Sec. 2. Section 97B.52A, subsection 1, paragraph b, Code
1 24 1999, is amended to read as follows:
1 25 b. For a member whose first month of entitlement is July
1 26 1998 or later, but before July 2000, the member does not
1 27 return to any employment with a covered employer until the
1 28 member has qualified for no fewer than four calendar months of
1 29 retirement benefits.
1 30 Sec. 3. Section 97B.52A, subsection 1, Code 1999, is
1 31 amended by adding the following new paragraph:
1 32 NEW PARAGRAPH. c. For a member whose first month of
1 33 entitlement is July 2000 or later, the member does not return
1 34 to any employment with a covered employer for at least one
1 35 calendar month following the month of termination and remains
2 1 out of all covered employment for no fewer than four calendar
2 2 months following the month of termination. For purposes of
2 3 this paragraph, covered employment does not include employment
2 4 as a teacher in a teaching discipline shortage area as
2 5 designated by the director of the department of education
2 6 pursuant to section 261.111.
2 7 EXPLANATION
2 8 This bill makes changes governing what constitutes a bona
2 9 fide retirement for purposes of receiving an IPERS retirement
2 10 benefit and also further modifies provisions governing
2 11 eligibility for retirement benefits for certain teachers
2 12 employed in a teaching discipline shortage area as designated
2 13 by the director of the department of education.
2 14 The bill eliminates the limit on reemployment wages for a
2 15 retired member of IPERS who is reemployed as a teacher in a
2 16 teaching discipline shortage area. Current law provides for a
2 17 reduction in retirement benefits if reemployment wages exceed
2 18 $12,000.
2 19 The bill further provides that a person can receive
2 20 benefits if the person does not return to any employment with
2 21 an employer covered by IPERS for one month following
2 22 termination of employment and does not return to employment
2 23 covered by IPERS for four months. Currently, a person cannot
2 24 return to any employment with an IPERS covered employer for
2 25 four months. The bill applies to persons whose first month of
2 26 entitlement to IPERS benefits is July 2000 or later. The bill
2 27 further provides that covered employment does not include
2 28 employment as a teacher in a teaching discipline shortage
2 29 area.
2 30 LSB 5200YH 78
2 31 ec/gg/8
Text: HF02078 Text: HF02080 Text: HF02000 - HF02099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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