Text: SF02063 Text: SF02065 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 97B.52A, subsection 1, paragraph b, 1 2 Code 1999, is amended to read as follows: 1 3 b. For a member whose first month of entitlement is July 1 4 1998 or later, the member does not return to any employment 1 5 with a covered employer until the member has qualified for no 1 6 fewer than four calendar months of retirement benefits. 1 7 However, for a member who was employed by a school corporation 1 8 or educational institution at the time of termination and 1 9 whose first month of entitlement is July 2000, or later, the 1 10 member may return to employment with a covered employer that 1 11 is a school or educational institution and be considered to 1 12 have a bona fide retirement if the member terminated 1 13 employment at the end of a school year and does not return to 1 14 employment for thirty days after the resumption of classes in 1 15 the next school year. 1 16 Sec. 2. Section 97B.52A, subsection 2, Code 1999, is 1 17 amended to read as follows: 1 18 2. A member may commence receiving retirement benefits 1 19 under this chapter upon satisfying eligibility requirements. 1 20 However, a retired member who commences receiving a retirement 1 21 allowance butreturns to employment before qualifying for no1 22fewer than four calendar months of retirement benefitsfails 1 23 to meet the applicable requirements of subsection 1 does not 1 24 have a bona fide retirement and any retirement allowance 1 25 received by such a member must be returned to the system 1 26 together with interest earned on the retirement allowance 1 27 calculated at a rate determined by the department. Until the 1 28 member has repaid the retirement allowance and interest, the 1 29 department may withhold any future retirement allowance for 1 30 which the member may qualify. 1 31 EXPLANATION 1 32 This bill provides that, beginning in July 2000, a member 1 33 of the Iowa public employees' retirement system (IPERS) who 1 34 was employed by a school at the time of retirement and who 1 35 retired at the end of a school year may return to employment 2 1 with a school after one month after the resumption of classes 2 2 of the next school year and remain eligible to continue to 2 3 receive retirement benefits. Under current law, a member of 2 4 IPERS cannot return to any employment with an employer covered 2 5 by IPERS, such as a school, until the member has received four 2 6 months of retirement benefits. 2 7 LSB 5259SS 78 2 8 ec/cls/14
Text: SF02063 Text: SF02065 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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