Text: HF02368                           Text: HF02370
Text: HF02300 - HF02399                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

House File 2369

Partial Bill History

Bill Text

  1  1    Section 1.  Section 97B.39, Code 1999, is amended to read
  1  2 as follows:
  1  4 – EXCEPTIONS.
  1  5    The right of any person to any future payment under this
  1  6 chapter is not transferable or assignable, at law or in
  1  7 equity, and the moneys paid or payable or rights existing
  1  8 under this chapter are not subject to execution, levy,
  1  9 attachment, garnishment, or other legal process, or to the
  1 10 operation of any bankruptcy or insolvency law except for the
  1 11 purposes of enforcing child, spousal, or medical support
  1 12 obligations or marital property orders.  For the purposes of
  1 13 enforcing child, spousal, or medical support obligations, the
  1 14 garnishment or attachment of or the execution against
  1 15 compensation due a person under this chapter shall not exceed
  1 16 the amount specified in 15 U.S.C. } 1673(b).  The department
  1 17 shall comply with the provisions of a marital property order
  1 18 requiring the selection of a particular benefit option,
  1 19 designated beneficiary, or contingent annuitant if the
  1 20 selection is otherwise authorized by this chapter and the
  1 21 member has not received payment of the member's first
  1 22 retirement allowance.  However, a marital property order shall
  1 23 not require the payment of benefits to an alternative payee
  1 24 prior to the member's retirement, prior to the date the member
  1 25 elects to receive a lump sum distribution of accumulated
  1 26 contributions pursuant to section 97B.53, or in an amount that
  1 27 exceeds the benefits the member would otherwise be eligible to
  1 28 receive pursuant to this chapter.  In addition, a valid
  1 29 marital property order for the purposes of this section shall
  1 30 provide for the payment of an amount from the member, once the
  1 31 member retires, based upon a percentage of the benefit the
  1 32 member would be eligible to receive as of the date of the
  1 33 order if the member retired as of that date.  
  1 34                           EXPLANATION
  1 35    This bill provides for the requirements of a valid marital
  2  1 property order under the Iowa public employees' retirement
  2  2 system.  The bill provides that a marital property order shall
  2  3 determine the amount payable by a member pursuant to the
  2  4 order, upon the member's retirement, based upon a percentage
  2  5 of the benefit the member would receive if the member retired
  2  6 as of the date of the marital property order.  
  2  7 LSB 6273YH 78
  2  8 ec/cf/24

Text: HF02368                           Text: HF02370
Text: HF02300 - HF02399                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

Return To Home index

© 2000 Cornell College and League of Women Voters of Iowa

Comments about this site or page? webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.

Last update: Wed Mar 1 03:35:35 CST 2000
URL: /DOCS/GA/78GA/Legislation/HF/02300/HF02369/000222.html