Text: HR00112 Text: HR00114 Text: HR00100 - HR00199 Text: HR Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 HOUSE RESOLUTION NO. 1 2 BY COMMITTEE ON STATE GOVERNMENT 1 3 (SUCCESSOR TO HSB 759) 1 4 A House Resolution requesting appointment of an interim 1 5 study committee to study defined contribution 1 6 options for persons covered by the Iowa public 1 7 employees' retirement system. 1 8 WHEREAS, the Iowa public employees' retirement 1 9 system is considered a defined benefit system in which 1 10 a person's benefit upon retirement is established by a 1 11 set formula based primarily on a person's salary and 1 12 years of service; and 1 13 WHEREAS, defined contribution retirement plans 1 14 where a contribution to a person's retirement account 1 15 is guaranteed, but a particular benefit is not, are 1 16 increasingly popular for workers in the private 1 17 sector; and 1 18 WHEREAS, defined contribution retirement plans 1 19 provide workers with increased portability of their 1 20 benefits, in contrast to traditional defined benefit 1 21 plans, and the ability to choose their own 1 22 investments; and 1 23 WHEREAS, defined contribution retirement plans do 1 24 not create any unfunded liability on behalf of 1 25 employers once a contribution is made; and 1 26 WHEREAS, several states are considering the 1 27 adoption of defined contribution options for 1 28 government employees in lieu of or in addition to 1 29 traditional defined benefit retirement plans; NOW 1 30 THEREFORE, 2 1 BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES, 2 2 That the Legislative Council is requested to appoint a 2 3 legislative interim study committee during the 2000 2 4 interim to consider possible defined contribution 2 5 options for persons covered by the Iowa public 2 6 employees' retirement system. 2 7 LSB 6830HV 78 2 8 ec/cls/14
Text: HR00112 Text: HR00114 Text: HR00100 - HR00199 Text: HR Index Bills and Amendments: General Index Bill History: General Index
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