Text: HF02149 Text: HF02151 Text: HF02100 - HF02199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 97B.1A, subsection 8, paragraph a, 1 2 subparagraph (1), Code 1999, is amended to read as follows: 1 3 (1) Elective officials in positions for which the 1 4 compensation is on a fee basis, elective officials of school 1 5 districts, elective officials of townships, and elective 1 6 officials of other political subdivisions who are in part-time 1 7 positions. An elective official covered under this chapter 1 8 may terminate membership under this chapter by informing the 1 9 department in writing of the expiration of the member's term 1 10 of office or by informing the department of the member's 1 11 intent to terminate membership for employment as an elective 1 12 official and establishing that the member has a bona fide 1 13 termination of employment from all employment covered under 1 14 this chapter other than as an elective official and that the 1 15 member has filed a completed application for benefits form 1 16 with the department. A county attorney is an employee for 1 17 purposes of this chapter whether that county attorney is 1 18 employed on a full-time or part-time basis. 1 19 Sec. 2. Section 97B.48A, subsection 1, unnumbered 1 20 paragraph 1, Code 1999, is amended to read as follows: 1 21 If a member who has not reached the member's sixty-fifth 1 22 birthday and who has a bona fide retirement under this chapter 1 23 is in regular full-time employment during a calendar year, the 1 24 member's retirement allowance shall be reduced by fifty cents 1 25 for each dollar the member earns over the limit provided in 1 26 this subsection. However, employment is not full-time 1 27 employment until the member receives remuneration in an amount 1 28 in excess of twelve thousand dollars for a calendar year, or 1 29 an amount equal to the amount of remuneration permitted for a 1 30 calendar year for persons under sixty-five years of age before 1 31 a reduction in federal social security retirement benefits is 1 32 required, whichever is higher. In addition, the reduction in 1 33 a member's retirement allowance shall not apply if the member 1 34 is employed as a substitute teacher by a school corporation or 1 35 educational institution. Effective the first of the month in 2 1 which a member attains the age of sixty-five years, a retired 2 2 member may receive a retirement allowance without a reduction 2 3 after return to covered employment regardless of the amount of 2 4 remuneration received. 2 5 Sec. 3. Section 97B.52A, subsection 1, paragraph b, Code 2 6 1999, is amended to read as follows: 2 7 b. For a member whose first month of entitlement is July 2 8 1998 or later, but before July 2000, the member does not 2 9 return to any employment with a covered employer until the 2 10 member has qualified for no fewer than four calendar months of 2 11 retirement benefits. 2 12 Sec. 4. Section 97B.52A, subsection 1, Code 1999, is 2 13 amended by adding the following new paragraph: 2 14 NEW PARAGRAPH. c. For a member whose first month of 2 15 entitlement is July 2000 or later, the member does not return 2 16 to any employment with a covered employer for at least one 2 17 calendar month following the month of termination and remains 2 18 out of all covered employment for no fewer than four calendar 2 19 months following the month of termination and remains out of 2 20 covered employment which is substantially similar to the 2 21 covered employment the member last terminated before applying 2 22 for benefits for no fewer than twenty-four calendar months 2 23 following the month of termination. For purposes of this 2 24 paragraph, covered employment does not include employment as a 2 25 substitute teacher. In addition, for purposes of this 2 26 paragraph, any employment with a covered employer does not 2 27 include employment as an elective official or member of the 2 28 general assembly if the member is not covered under this 2 29 chapter for that employment. 2 30 Sec. 5. Section 97B.52A, subsection 2, Code 1999, is 2 31 amended to read as follows: 2 32 2. A member may commence receiving retirement benefits 2 33 under this chapter upon satisfying eligibility requirements. 2 34 However, a retired member who commences receiving a retirement 2 35 allowance but returns to employment beforequalifying for no3 1fewer than four calendar months of retirement benefitsmeeting 3 2 the applicable requirement provided in subsection 1, 3 3 paragraphs "a" through "c", does not have a bona fide 3 4 retirement and any retirement allowance received by such a 3 5 member must be returned to the system together with interest 3 6 earned on the retirement allowance calculated at a rate 3 7 determined by the department. Until the member has repaid the 3 8 retirement allowance and interest, the department may withhold 3 9 any future retirement allowance for which the member may 3 10 qualify. 3 11 EXPLANATION 3 12 This bill changes the determination of what constitutes a 3 13 bona fide retirement for purposes of receiving an IPERS 3 14 retirement benefit. The bill provides that a person can 3 15 receive benefits if the person does not return to any 3 16 employment with an employer covered by IPERS for one month 3 17 following termination of employment and does not return to any 3 18 covered employment for four months or covered employment 3 19 similar to the member's covered employment just prior to 3 20 applying for retirement benefits with IPERS for 24 months. 3 21 Currently, a person cannot return to any employment with an 3 22 IPERS covered employer for four months. The bill applies to 3 23 persons whose first month of entitlement to IPERS benefits is 3 24 July 2000 or later. In addition, the bill provides that 3 25 employment as a substitute teacher or as an elective official 3 26 or member of the general assembly does not constitute 3 27 employment for purposes of this bona fide retirement 3 28 requirement. 3 29 The bill eliminates the limit on reemployment wages for a 3 30 retired member of IPERS who is reemployed as a substitute 3 31 teacher. Current law provides for a reduction in retirement 3 32 benefits if reemployment wages exceed $12,000. 3 33 In addition, the bill allows elective officials to 3 34 terminate IPERS membership if they apply for retirement from 3 35 another IPERS-covered job. 4 1 LSB 5108YH 78 4 2 ec/gg/8.1
Text: HF02149 Text: HF02151 Text: HF02100 - HF02199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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