Text: SF02186 Text: SF02188 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 97B.48A, subsection 1, unnumbered
1 2 paragraph 1, Code 2001, is amended to read as follows:
1 3 If a member who has not reached the member's sixty-fifth
1 4 birthday and who has a bona fide retirement under this chapter
1 5 is in regular full-time employment during a calendar year, the
1 6 member's retirement allowance shall be reduced by fifty cents
1 7 for each dollar the member earns over the limit provided in
1 8 this subsection. However, employment is not full-time
1 9 employment until the member receives remuneration in an amount
1 10 in excess of fourteen thousand dollars, or fifty thousand
1 11 dollars if employed as a teacher or school administrator by a
1 12 school district or area education agency, for a calendar year,
1 13 or an amount equal to the amount of remuneration permitted for
1 14 a calendar year for persons under sixty-five years of age
1 15 before a reduction in federal social security retirement
1 16 benefits is required, whichever is higher. Effective the
1 17 first of the month in which a member attains the age of sixty-
1 18 five years, a retired member may receive a retirement
1 19 allowance without a reduction after return to covered
1 20 employment regardless of the amount of remuneration received.
1 21 Sec. 2. Section 97B.52A, subsection 1, paragraph c, Code
1 22 2001, is amended to read follows:
1 23 c. For a member whose first month of entitlement is July
1 24 2000 or later, the member does not return to any employment
1 25 with a covered employer until the member has qualified for at
1 26 least one calendar month of retirement benefits, and the
1 27 member does not return to covered employment until the member
1 28 has qualified for no fewer than four calendar months of
1 29 retirement benefits. For purposes of this paragraph,
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. For purposes of this
1 34 paragraph, effective July 1, 2002, covered employment does not
1 35 include employment as a teacher or school administrator by a
2 1 school district or area education agency.
2 2 EXPLANATION
2 3 This bill concerns the rights of a retiree under the Iowa
2 4 public employees' retirement system (IPERS) to return to work
2 5 as a teacher or school administrator after retirement.
2 6 Code section 97B.48A, subsection 1, is amended to provide
2 7 that an IPERS retiree can return to work as a school teacher
2 8 or school administrator following a bona fide retirement and
2 9 earn up to $50,000 in a calendar year without a reduction in
2 10 retirement benefits. Current law provides for a reduction in
2 11 retirement benefits if reemployment wages exceed $14,000 for
2 12 persons under 65 years of age.
2 13 Code section 97B.52A, subsection 1, is amended to provide
2 14 that a member of IPERS can retire and be reemployed by a
2 15 school district or area education agency as a teacher or
2 16 school administrator covered by IPERS so long as the member
2 17 does not return to any employment with an IPERS employer for
2 18 one month following the member's retirement. Under current
2 19 law, a member of IPERS cannot return to any employment covered
2 20 by IPERS for four months following retirement.
2 21 LSB 6331XS 79
2 22 ec/cls/14
Text: SF02186 Text: SF02188 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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