Text: S05177                            Text: S05179
Text: S05100 - S05199                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

Senate Amendment 5178

Amendment Text

PAG LIN
  1  1    Amend House File 2532, as amended, passed, and
  1  2 reprinted by the House, as follows:
  1  3    #1.  Page 11, by inserting after line 31 the
  1  4 following:
  1  5    "Sec.    .  NEW SECTION.  97B.42C  RETIREMENT
  1  6 SYSTEM MERGER – MUNICIPAL UTILITY RETIREMENT SYSTEM.
  1  7    A municipal water utility or waterworks that has
  1  8 established a pension and annuity retirement system
  1  9 for its employees pursuant to chapter 412 may adopt a
  1 10 resolution to authorize the merger of its pension and
  1 11 annuity retirement system with and into the Iowa
  1 12 public employees' retirement system.  The system is
  1 13 authorized, but is not required, to accept such a
  1 14 proposal.  The governing body of the municipal water
  1 15 utility or waterworks and the Iowa public employees'
  1 16 retirement system shall, acting in their fiduciary
  1 17 capacities, mutually determine the terms and
  1 18 conditions of such a merger, including any additional
  1 19 funds necessary to fund the service credits being
  1 20 transferred to the Iowa public employees' retirement
  1 21 system, and either party may decline the merger if
  1 22 they cannot agree on such terms and conditions.  The
  1 23 system shall adopt such rules as it deems necessary
  1 24 and prudent to effectuate mergers as provided by this
  1 25 section."
  1 26    #2.  Page 13, line 35, by striking the word "forty"
  1 27 and inserting the following:  "twenty-five".
  1 28    #3.  By renumbering as necessary.  
  1 29 
  1 30 
  1 31                               
  1 32 COMMITTEE ON STATE GOVERNMENT
  1 33 STEVE KING, Chairperson
  1 34 HF 2532.502 79
  1 35 ec/pj
     

Text: S05177                            Text: S05179
Text: S05100 - S05199                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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