Text: HSB00758 Text: HSB00760 Text: HSB00700 - HSB00799 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 HOUSE RESOLUTION NO. 1 2 BY (PROPOSED COMMITTEE ON STATE GOVERNMENT 1 3 RESOLUTION BY CHAIRPERSON MARTIN) 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 system is 1 9 considered a defined benefit system in which a person's 1 10 benefit upon retirement is established by a set formula based 1 11 primarily on a person's salary and years of service; and 1 12 WHEREAS, defined contribution retirement plans where a 1 13 contribution to a person's retirement account is guaranteed, 1 14 but a particular benefit is not, are increasingly popular for 1 15 workers in the private sector; and 1 16 WHEREAS, defined contribution retirement plans provide 1 17 workers with increased portability of their benefits, in 1 18 contrast to traditional defined benefit plans, and the ability 1 19 to choose their own investments; and 1 20 WHEREAS, defined contribution retirement plans do not 1 21 create any unfunded liability on behalf of employers once a 1 22 contribution is made; and 1 23 WHEREAS, several states are considering the adoption of 1 24 defined contribution options for government employees in lieu 1 25 of or in addition to traditional defined benefit retirement 1 26 plans; NOW THEREFORE, 1 27 BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES, That the 1 28 Legislative Council is requested to appoint a legislative 1 29 interim study committee during the 2000 interim to consider 1 30 possible defined contribution options for persons covered by 1 31 the Iowa public employees' retirement system. 1 32 LSB 6830YC 78 1 33 ec/cls/14
Text: HSB00758 Text: HSB00760 Text: HSB00700 - HSB00799 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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