97B.18  Statement of accumulated credit.

After the expiration of each calendar year and prior to July 1 of the succeeding year, the department shall furnish each member with a statement of the member's accumulated contributions and benefit credits accrued under this chapter up to the end of that calendar year and additional information the department deems useful to a member. The department may furnish an estimate of the credits as of the projected normal retirement date of the member under section 97B.45. The department shall mail the statement to each employer not later than June 30 of the succeeding calendar year. The employer shall distribute the statements to its employees, and the records of the department as shown by the statement as to the wages of each individual member for a year and the periods of payment shall be conclusive for the purpose of this chapter, except as otherwise provided in this chapter.

Effective for the calendar year beginning January 1, 1994, the department may transmit the statements directly to the members in lieu of mailing them to the employers.

Section History: Early form

  [C46, 50, § 97.11, 97.25; C54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 97B.18]

Section History: Recent form

  92 Acts, ch 1201, §16

Internal References

  Referred to in § 97B.19


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