House Journal: Page 992: Tuesday, March 26, 2002
The House stood at ease at 2:32 p.m., until the fall of the gavel.
The House resumed session at 3:41 p.m., Carroll of Poweshiek in
the chair.
SENATE AMENDMENTS CONSIDERED
Elgin of Linn called up for consideration House File 2532, a bill
for an act relating to public retirement systems and providing
effective and retroactive applicability dates, amended by the Senate
amendment H-8419 as follows:
H-8419
1 Amend House File 2532, as amended, passed, and
2 reprinted by the House, as follows:
3 1. Page 11, by inserting after line 31 the
4 following:
5 "Sec. . NEW SECTION. 97B.42C RETIREMENT
6 SYSTEM MERGER - MUNICIPAL UTILITY RETIREMENT SYSTEM.
7 A municipal water utility or waterworks that has
8 established a pension and annuity retirement system
9 for its employees pursuant to chapter 412 may adopt a
10 resolution to authorize the merger of its pension and
11 annuity retirement system with and into the Iowa
12 public employees' retirement system. The system is
13 authorized, but is not required, to accept such a
14 proposal. The governing body of the municipal water
15 utility or waterworks and the Iowa public employees'
16 retirement system shall, acting in their fiduciary
17 capacities, mutually determine the terms and
18 conditions of such a merger, including any additional
19 funds necessary to fund the service credits being
20 transferred to the Iowa public employees' retirement
21 system, and either party may decline the merger if
22 they cannot agree on such terms and conditions. The
23 system shall adopt such rules as it deems necessary
24 and prudent to effectuate mergers as provided by this
25 section."
26 2. Page 13, line 35, by striking the word "forty"
27 and inserting the following: "twenty-five".
28 3. Page 21, by inserting after line 3, the
29 following:
30 "Sec. . Section 97B.80A, subsections 1 and 3,
31 Code 2001, are amended to read as follows:
32 1. A vested or retired member who has five or more
33 full calendar years of covered wages and who at any
34 time was employed by a covered employer under this
© 2002 Cornell College and
League of Women Voters of Iowa
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