Text: SF02225 Text: SF02227 Text: SF02200 - SF02299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 97B.42, Code 1999, is amended by adding
1 2 the following new unnumbered paragraph:
1 3 NEW UNNUMBERED PARAGRAPH. Nothing herein shall be
1 4 construed to prevent a public employer from making
1 5 contributions on behalf of an employee, in addition to
1 6 contributions to the Iowa public employees' retirement system
1 7 and contributions to deferred compensation plans and tax-
1 8 sheltered annuities as described under this section, to
1 9 qualified multiemployer plans, as defined in Internal Revenue
1 10 Code section 414(f). Any negotiations between a public
1 11 employer and an employee organization regarding contributions
1 12 to qualified multiemployer plans shall be exempt from the
1 13 scope of negotiations limitations set forth in section 20.9.
1 14 For the purpose of ensuring compliance with section 415 of the
1 15 Internal Revenue Code, any public employer which agrees to
1 16 participate in a qualified multiemployer plan through
1 17 collective bargaining with its employees, shall be obligated
1 18 to inform the system annually on a form prescribed by the
1 19 system of the identity of such qualified multiemployer plans,
1 20 the identity of the participating employees, and sufficient
1 21 information, as determined by the system, in advance of the
1 22 retirement of such individuals to determine the maximum
1 23 benefit payable from the system under section 415 of the
1 24 Internal Revenue Code, taking into account amounts payable
1 25 under the qualified multiemployer retirement plan.
1 26 Sec. 2. IMPLEMENTATION DATE. This Act shall not be
1 27 implemented until the Iowa public employees' retirement system
1 28 has received a ruling from the federal internal revenue
1 29 service regarding the implementation of Internal Revenue Code,
1 30 section 415 limits for an employee covered under the Iowa
1 31 public employees' retirement system and a qualified
1 32 multiemployer plan as described in this Act.
1 33 EXPLANATION
1 34 This bill provides that an employer of an employee covered
1 35 under IPERS can also contribute to a qualified multiemployer
2 1 plan of the employee without violating the requirements of
2 2 Code chapter 97B. Negotiations between an employee and
2 3 employer concerning contributions to a qualified multiemployer
2 4 plan are exempted from the scope of negotiation limits of Code
2 5 chapter 20. An employer who agrees to contribute to a
2 6 qualified multiemployer plan shall provide IPERS with certain
2 7 information concerning the plan and the employees covered.
2 8 The bill shall not be implemented until IPERS receives a
2 9 favorable ruling from the federal internal revenue service.
2 10 LSB 6288XS 78
2 11 ec/cf/24
Text: SF02225 Text: SF02227 Text: SF02200 - SF02299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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