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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