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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