Text: S05327 Text: S05329 Text: S05300 - S05399 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend House File 2463, as passed by the House, as
1 2 follows:
1 3 #1. Page 15, by inserting after line 10 the
1 4 following:
1 5 "Sec. ___. IOWA PUBLIC EMPLOYEES' RETIREMENT
1 6 SYSTEM – EMPLOYEE WAGES.
1 7 1. Notwithstanding section 97B.1A, subsection 26,
1 8 paragraph "a", subparagraph (2), subparagraph
1 9 subdivision (d), as enacted in 2000 Iowa Acts, Senate
1 10 File 2411, "wages" as defined in section 97B.1A,
1 11 subsection 26, for an eligible employee of an eligible
1 12 employer shall include allowable employer-paid
1 13 contributions which are uniformly applied by each
1 14 eligible employer to all of the employer's eligible
1 15 employees and are not limited to highly compensated
1 16 employees as defined in section 414(q) of the Internal
1 17 Revenue Code.
1 18 2. For purposes of this section:
1 19 a. "Allowable employer-paid contributions" means
1 20 employer-paid contributions that cannot be received by
1 21 the employee in cash and that are made to plans,
1 22 programs, or arrangements qualified under section 125
1 23 of the Internal Revenue Code.
1 24 b. "Eligible employee" means an employee of an
1 25 eligible employer who is covered under chapter 97B and
1 26 was employed by the eligible employer prior to July 1,
1 27 2000.
1 28 c. "Eligible employer" means an employer covered
1 29 by chapter 97B who meets all of the following
1 30 requirements:
1 31 (1) The employer included allowable employer-paid
1 32 contributions in employees' wages continuously from
1 33 January 1, 1997, through January 1, 2000.
1 34 (2) The employer includes allowable employer-paid
1 35 contributions in employees' wages for all eligible
1 36 employees of the employer on and after July 1, 2000.
1 37 3. An eligible employer may file a written
1 38 election with the department of personnel to exclude
1 39 allowable employer-paid contributions from wages of
1 40 every eligible employee of the employer and shall
1 41 cease being an eligible employer for purposes of this
1 42 section upon filing the election. An election by an
1 43 eligible employer to exclude allowable employer-paid
1 44 contributions is irrevocable and no retroactive wage
1 45 adjustment shall be permitted for eligible employees
1 46 following the election. An eligible employee shall
1 47 not be permitted to file a written election to exclude
1 48 allowable employer-paid contributions from that
1 49 eligible employee's wages."
1 50 #2. By renumbering as necessary.
2 1
2 2
2 3
2 4 SHELDON RITTMER
2 5 HF 2463.1
2 6 ec/cc/26
Text: S05327 Text: S05329 Text: S05300 - S05399 Text: S Index Bills and Amendments: General Index Bill History: General Index
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