Text: HF02043 Text: HF02045 Text: HF02000 - HF02099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 97B.48A, subsection 1, Code 2001, is 1 2 amended by striking the subsection and inserting in lieu 1 3 thereof the following: 1 4 1. A member who has a bona fide retirement under this 1 5 chapter may return to regular full-time covered employment 1 6 during a calendar year and shall continue to receive a 1 7 retirement allowance without a reduction after return to 1 8 covered employment regardless of the amount of remuneration 1 9 received. 1 10 Sec. 2. Section 97B.52A, subsection 1, paragraph c, Code 1 11 2001, is amended to read as follows: 1 12 c. For a member whose first month of entitlement is July 1 13 2000 or later, but before July 2002, the member does not 1 14 return to any employment with a covered employer until the 1 15 member has qualified for at least one calendar month of 1 16 retirement benefits, and the member does not return to covered 1 17 employment until the member has qualified for no fewer than 1 18 four calendar months of retirement benefits.For purposes of1 19this paragraph, effective July 1, 2000, any employment with a1 20covered employer does not include employment as an elective1 21official or member of the general assembly if the member is1 22not covered under this chapter for that employment.1 23 Sec. 3. Section 97B.52A, subsection 1, Code 2001, is 1 24 amended by adding the following new paragraphs: 1 25 NEW PARAGRAPH. d. For a member whose first month of 1 26 entitlement is July 2002, or later, the member does not return 1 27 to covered employment until the member has qualified for at 1 28 least one calendar month of retirement benefits. 1 29 NEW PARAGRAPH. e. For purposes of paragraphs "c" and "d", 1 30 effective July 1, 2000, any employment with a covered employer 1 31 does not include employment as an elective official or member 1 32 of the general assembly if the member is not covered under 1 33 this chapter for that employment. 1 34 EXPLANATION 1 35 This bill concerns the reemployment rights of retirees 2 1 under the Iowa public employees' retirement system (IPERS). 2 2 The bill provides that an IPERS member who has a bona fide 2 3 retirement can return to public employment covered by IPERS 2 4 and continue to receive the member's retirement allowance 2 5 without a reduction. Under current law, an IPERS member 2 6 receiving a retirement allowance who is under age 65 will have 2 7 the member's IPERS retirement allowance reduced by $.50 for 2 8 each dollar the member earns over $14,000 in a calendar year 2 9 in employment covered by IPERS. 2 10 The bill also changes the determination of what constitutes 2 11 a bona fide retirement for purposes of receiving an IPERS 2 12 retirement benefit. The bill provides that a person can 2 13 receive benefits if the person does not return to covered 2 14 employment with an employer covered by IPERS for one month 2 15 following termination of employment. Currently, a person 2 16 cannot return to covered employment for four months following 2 17 termination from employment and can only return to employment 2 18 with an IPERS employer that is not considered IPERS covered 2 19 employment after receiving benefits for one month. This 2 20 portion of the bill applies to persons whose first month of 2 21 entitlement to IPERS benefits is July 2002, or later. 2 22 LSB 5579YH 79 2 23 ec/sh/8
Text: HF02043 Text: HF02045 Text: HF02000 - HF02099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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