Text: H08183                            Text: H08185
Text: H08100 - H08199                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

House Amendment 8184

Amendment Text

PAG LIN
  1  1    Amend House File 2532 as follows:
  1  2    #1.  Page 14, by inserting after line 9 the
  1  3 following:
  1  4    "Sec.    .  Section 97B.48A, subsection 3, Code
  1  5 2001, is amended to read as follows:
  1  6    3.  Upon a retirement after reemployment, a retired
  1  7 member may have the retired member's retirement
  1  8 allowance redetermined under this section or section
  1  9 97B.48, section 97B.50, or section 97B.51, whichever
  1 10 is applicable, based upon the addition of credit for
  1 11 the years of membership service of the employee after
  1 12 reemployment, the covered wage during reemployment,
  1 13 and the age of the employee after reemployment.  The
  1 14 member shall receive a single retirement allowance
  1 15 calculated from both periods of membership service,
  1 16 one based on the initial retirement and one based on
  1 17 the second retirement following reemployment.  The
  1 18 member may select one of the following options for
  1 19 receiving a single retirement allowance, if eligible,
  1 20 based upon both periods of membership service:
  1 21    a.  A single retirement allowance calculated by
  1 22 adding the allowance for the initial retirement with
  1 23 an additional retirement allowance calculated pursuant
  1 24 to sections 97B.49A through 97B.49G, based solely on
  1 25 the years of membership service of the employee after
  1 26 reemployment, the covered wage during reemployment,
  1 27 and the age of the employee after reemployment.
  1 28 However, a member may select the option provided by
  1 29 this paragraph only if the member had at least thirty-
  1 30 five years of membership service as of the date of the
  1 31 member's initial retirement.
  1 32    b.  A single retirement allowance based upon the
  1 33 addition of credit for the years of membership service
  1 34 of the employee after reemployment, the covered wage
  1 35 during reemployment, and the age of the employee after
  1 36 reemployment.  If the total years of membership
  1 37 service and prior service of a member who has been
  1 38 reemployed equals or exceeds thirty, the years of
  1 39 membership service on which the original retirement
  1 40 allowance was based may be reduced by a fraction of
  1 41 the years of service equal to the number of years by
  1 42 which the total years of membership service and prior
  1 43 service exceeds thirty divided by thirty, if this
  1 44 reduction in years of service will increase the total
  1 45 retirement allowance of the member.  The additional
  1 46 retirement allowance calculated for the period of
  1 47 reemployment shall be added to the retirement
  1 48 allowance calculated for the initial period of
  1 49 membership service and prior service, adjusted as
  1 50 provided in this subsection paragraph.  The retirement
  2  1 allowance calculated for the initial period of
  2  2 membership service and prior service shall not be
  2  3 adjusted for any other factor than years of service.
  2  4 The retired member shall not receive a retirement
  2  5 allowance based upon more than a total of thirty years
  2  6 of service.  Effective July 1, 1998, a redetermination
  2  7 of a retirement allowance as authorized by this
  2  8 subsection paragraph for a retired member whose
  2  9 combined service exceeds the applicable years of
  2 10 service for that member as provided in sections
  2 11 97B.49A through 97B.49G shall have the determination
  2 12 of the member's reemployment benefit based upon the
  2 13 percentage multiplier as determined for that member as
  2 14 provided in sections 97B.49A through 97B.49G."
  2 15    #2.  By renumbering as necessary.  
  2 16 
  2 17 
  2 18                               
  2 19 WISE of Lee
  2 20 HF 2532.202 79
  2 21 ec/sh
     

Text: H08183                            Text: H08185
Text: H08100 - H08199                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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