PUBLIC RETIREMENT SYSTEMS COMMITTEE

MINUTES

October 26-27, 1995
First and second of three meetings

MEMBERS PRESENT

• Senator John Kibbie, Co-chairperson
• Representative Mona Martin, Co-chairperson
• Senator Michael Connolly
• Senator Richard Drake
• Senator Michael Gronstal
• Senator Sheldon Rittmer
• Representative John Connors
• Representative Chuck Gipp
• Representative Don Gries
• Representative Rick Larkin

MEETING IN BRIEF

Minutes prepared by Kregg Halstead, Legal Counsel,
Organizational staffing by Ed Cook, Legal Counsel

1. Procedural Business.
2. Iowa Public Employees' Retirement System (IPERS).
3. Teachers Insurance and Annuity Association College Retirement Equities Fund (TIAA-CREF).
4. Judicial Retirement System.
5. Municipal Fire and Police Retirement System (MFPRSI).
6. Peace Officers' Retirement System (PORS).
7. Committee Discussion and Future Business.
8. Written Materials Filed With the Legislative Service Bureau.

COMMITTEE BUSINESS

1. Procedural Business.

Call to Order. Temporary Co-Chairpersons Senator John Kibbie and Representative Mona Martin called the interim meeting of the Iowa Public Employees' Retirement System Committee to order at 10:00 a.m., Thursday, October 26, 1995, in Committee Room 22 of the Statehouse in Des Moines, Iowa.

Preliminary Business. Senator Kibbie and Representative Martin were unanimously elected the permanent Co-Chairpersons of the Committee. The rules were also adopted by the Committee.

Adjournment. The meeting recessed after the first day's business on Thursday, October 26, 1995, at 4:20 p.m. The second day of the meeting began on Friday, October 27, 1995, at 9:00 a.m. and adjourned after the second day's business at 1:45 p.m.

Next Meeting. The Committee tentatively set the date for the third meeting of the Committee, subject to Legislative Council approval of the Committee's request for a third meeting date, on December 14, 1995. (The Legislative Coucnil approved the request on November 29, 1995.)

2. Iowa Public Employees' Retirement System (IPERS)

a. Buck Consultants' Report.
Presentation by Mr. Joseph Metz, government consultant, and Mr. Ralph Jensen, actuary consultant.

(1) Overview. Buck Consultants was hired by IPERS to conduct an independent study concerning IPERS benefits. Mr. Metz indicated that although the study focused on benefits and not funding or actuarial concerns, the cost of benefits was considered in making recommendations. In conducting the study, Buck compared key features of IPERS to other state and national employee retirement plans. Mr. Metz began by providing the Committee with a working definition of what is a "good pension". He defined a "good pension" as one that should enable a career employee to retire at a normal retirement age with pension and social security benefits that will permit the retiree to maintain his or her preretirement standard of living. In addition, a "good pension" should allow retirees to receive increases in their pensions as inflation increases. In considering pension policy, Mr. Metz indicated that pensions are for retirement and should not be used to promote a particular social policy. Mr. Metz stated that IPERS is basically on target in achieving the goal of providing a "good pension". He noted that IPERS is an "A1" system that is well funded, properly administered, and generally provides good benefits. However, Buck Consultants did recommend to the Committee numerous revisions to IPERS.

(2) Recommendations:

• a) Salary cap. The covered wage ceiling whereby only the first $41,000 of a member's annual wages (to be increased to the first $55,000 of a member's annual wages by the year 2000) used to calculate retirement benefits should be eliminated. Rationale: Buck states that the covered wage ceiling does not appropriately reward wages, for example, the annual two percent benefit is only one percent for a member who earns $82,000 per year. Buck notes that Iowa is the only state with a covered wage ceiling and predicts that Iowa will suffer adverse consequences in the areas of employee recruitment and turnover if the covered wage ceiling is not eliminated. Mr. Jensen stated that the covered wage ceiling creates problems for the funding of IPERS as it involves the continual starting and stopping of the system. Buck considers removal of the salary cap as one of the two most important recommendations.
• b) Credited service. The service credit cap, whereby if a member works more than 30 years he or she does not receive any additional benefit, should be eliminated. Rationale: Buck notes that only four other states have service caps. Buck is cognizant of the potential situation that if the service cap is eliminated, a member who works 40 years, for example, could receive from his or her pension and social security benefits, an annual retirement income above 100 percent of the member's final annual working income. In this situation, Buck recommends adjusting the pension benefit downward such that the combined pension and social security benefits do not exceed the member's annual working income. Mr. Metz noted that this would be a relatively rare situation as most members work on average only 20 years within the IPERS system. Buck considers removal of the credited service cap as one of the two most important recommendations.
• c) Retirement eligibility. The normal retirement eligibility requirements should be changed to the earlier of age 65, age 62 with 20 or more years of service, or age 55 if age plus years of service equals 85 (the Rule of 85). Early retirement eligibility would remain at age 55 with four or more years of service. The benefit reduction for early commencement would also remain at .25 percent per year of early retirement. The years of early retirement would be from the retirement date to the earliest of the normal retirement dates. Rationale: Adoption of the Rule of 85 would increase flexibility for retiring members.
• d) Minimum benefits. The current minimum monthly benefit of $50 should be increased to $200 - $400 per month depending on a member's years of service. Rationale: Buck states that this will decrease the poverty rate of certain state retirees by increasing the amount of their pensions.
• e) Interest credited. The interest credited to a member's contribution account should be increased from 4.5 percent annually to 6.75 percent annually.
• f) Survivor benefits. The service-connected death benefit should be modified to provide a survivor option. Rationale: Modifying the service-connected death benefit would make IPERS competitive with other public employee retirement systems.
• g) COLA. An automatic post-retirement cost of living adjustment (COLA) should be provided to replace the current dividend program. Rationale: Mr. Metz noted that a COLA would preserve the value of a pension from being reduced over time by inflation.
• h) Disability benefits. The disability benefit should be changed to provide a minimum benefit equal to 33-1/3 percent of the final average salary. Rationale: Modifying the disability benefit would make IPERS competitive with other public employee retirement systems.
• i) Death benefits. The death benefit should be modified to provide a lump sum benefit of three year's salary after three years of service. Rationale: Buck is seeking to provide greater protection for the younger, shorter-service member who dies while employed in the system.
• j) Retiree earnings. The amount an IPERS retiree can earn without a reduction in the retiree's pension should be increased. Rationale: Buck advocates that retirees should be given more flexibility to let them go back to work, still receive a full pension, and not participate in IPERS if there is a real need for older workers.
• k) Organizational structure. Buck advocates the establishment of an IPERS Board of Trustees, or alternatively, an IPERS Benefits and Investment Board or an IPERS Benefits Board (as a counterpart to the current IPERS Investment Board). Rationale: Buck believes that the creation of one of these boards would strengthen the independence of IPERS in that decisions affecting IPERS' benefits, financing, and administration would be made collectively by a body of persons appointed or elected to an IPERS board by virtue of their knowledge of benefits or investments, position in state government, or position as a representative or a constituent group of employees.
• l) Health insurance. Although not a formal recommendation from the consultant, Mr. Metz stated that it is important to consider health insurance when thinking about retirement income. For example, the existence or nonexistence of health insurance will in many cases determine when and whether an employee can afford to retire. Mr. Metz noted that 50 percent of states provide health insurance to their retired public employees.

(3) Discussion. Senator Gronstal expressed his opinion that the timetables for the removal of the covered wage ceiling and the service credit cap need to be studied. In response to a question from Senator Connolly, Mr. Metz and Mr. Jensen stated that based on their estimates, IPERS could adequately fund all of the Buck recommendations.

b. IPERS Report.
Presentation by Mr. Greg Cusack, Chief Benefits Officer; Elizabeth Sanders, Chief Investment Officer; and Patrice Beckham, Consulting Actuary, Milliman & Robertson

(1) Introduction. The key issues for pension benefit policy are what can be paid pay for and what ought to be paid for. In formulating pension policy, Mr. Cusack indicated that one must realize that it is impossible to have a "neutral" or "no social policy" retirement system since any decision made is predicated on some societal choice. In establishing pension policy, Mr. Cusack cautioned the Committee to consider the younger state workers. He indicated that choices made today, if they result in providing too many benefits for current or soon-to-be retirees, could result in Iowa adopting a defined contribution plan for younger workers which would penalize career and lower-pay employees.

(2) Orienting principles for a sound pension system. Mr. Cusack relayed the following principles for the Committee to consider, in addition to the statutory principles found in Iowa Code chapter 97D, for designing a balanced and fiscally sound pension system:

• a. Total retirement payout from public sources, social security, and IPERS should not exceed 100 percent of a member's pre retirement income.
• b. Members should pay their proportionate share of benefit enhancements they receive.
• c. Intergenerational equity should be preserved.
• d. Individual equity is not the best indicator of plan design balance.
• e. Proposed benefit enhancements should be evaluated as to their effect on plan design ten years in the future.

(3) Consensus recommendation of constituent advisory group and IPERS.

The constituent advisory group includes representatives of various interest groups concerned with IPERS and was formed by IPERS to provide input on retirement issues.

The following were agreed to by all parties:

• a. Remove the salary cap and, by giving credit to years of service beyond 30, allow a maximum payout of 70 percent of a member's average highest three years of salary.
• b. Increase the minimum benefits paid to persons who retired with at least 10 years of service.
• c. Change the existing dividend program to an annually adjusted, ad hoc COLA program.
• d. Fix the interest credited to members' accounts to a target rate of 0.5 percent to 1 percent over comparable one year interest rates for certificates of deposit.
• e. Allow retired members who wish to resume employment with IPERS' covered employers the right to elect noncoverage for that reemployment period; also, change the "penalty" for exceeding the cap on reemployment earnings from total cessation of IPERS' benefits for the remainder of the calendar year to a reduction in IPERS' benefits of $.50 for each $1.00 in earning above the cap.
• f. IPERS and the groups will work to develop a plan to provide some postretirement health care assistance to IPERS' members.

(4) Further study items.

The constituent group believes further study is needed on the following:

• An IPERS' proposal to index the value of terminated vested members' benefits from the day of termination over time until those members' eventual retirement.
• Buck Consultants' recommendations regarding death benefit and disability payouts.

(5) No consensus items.

No consensus was reached by the constituent group on the following proposals:

• Buck Consultants' recommendation to adopt the Rule of 85. IPERS is opposed to this change while most of the constituent groups support this change.
• An IPERS' proposal to allow persons to have an "early retirement" based on the Rule of 85 so long as the persons fund the cost of this unreduced benefit at the time of retirement.

(6) Actuarial report - covered wage ceiling.

Ms. Patrice Beckham noted that the current covered wage ceiling masks IPERS' liabilites in the future. She noted that current actuarial projections are based on the covered wage ceiling and this practice fails to account for higher wages likely to be paid 20 to 40 years from now and the likely increase in the covered wage ceiling. As a result, the system undervalues the benefits for younger employees and therefore does not accurately reflect the likely future liabilities of the system. She estimated that removing the covered wage ceiling would result in additional liabilities of $9.9 to $12.2 billion. Senator Gronstal wondered whether an increase in the IPERS interest rate assumption from the current 6.75 percent to 7.75 percent would completely fund any liabilities resulting from removing the covered wage ceiling. Ms. Beckham indicated that a more detailed analysis would need to be done. Ms. Sanders noted that the average interest rate assumption for public employee retirement systems in the country is about 8 percent but she indicated that IPERS would tend to err toward a more conservative assumption.

(7) Organizational structure.

Mr. Cusack indicated that the Department of Personnel is working on a response to the consultants' recommendation of establishing some form of a benefits board. He agreed that inclusion of constituent groups in the planning process is good but he indicated some concern with empowering these groups with benefits authority through a formal board. Ms. Linda Hanson, Director, Department of Personnel, indicated that IPERS recommendations are not controlled by an individual person in the department but are formulated by the department using a team approach. She noted that ultimate authority in setting IPERS policy rests with the legislature, and she indicated that forming a benefits board may usurp some of the legislature's control of benefits policy. Senator Connolly expressed his support for some form of a benefits board.

c. Presentations from IPERS constituent groups.

(1)Iowa State Sheriff's and Deputies Association.

Presentation by Mr. Bill Hutchins; Mr. Bill Sage, Chairperson of the Legislative Committee; and Mr. Marv Van Huffman, Marion County Sheriff and incoming President of the Association.

• Recommendation: Change the normal retirement eligibility requirements to allow retirement upon 25 years of service without any age requirement from the current 22 years of service and age 55. The current requirement should be kept for those who can qualify earlier under this criteria.
• Rationale: Law enforcement has become more stressful and more dangerous over the last few years to where it has become a job for "young people." Implementing the recommendation would save money and increase safety as younger officers would replace older retiring officers.

(2)Iowa Corrections Association.

Presentation by Mr. Gary Hinzman, 6th Judicial District Department of Corrections and Ms. Jean Kuehl.

• Recommendation: All institutional and community-based corrections occupation classes should be included in the definition of "protected occupations" under IPERS.
• Rationale: Corrections workers are exposed to the offender population and a myriad of dangerous situations all day on the job. Corrections workers consistently cite personal safety as their number one job-related concern. Including some but not all job clasifications within protected occupations creates divisiveness between employees.

(3)Airport Firefighters Association.

Presentation by Mr. Dale Pradovich.

• Recommendation: A presumption should be created that any heart or lung problems experienced by firefighters be considered job-related for purposes of disability benefits.
• Rationale: Firefighters are occasionally exposed to poison gas and noxious fumes. Bearing the burden to prove causation often makes proving that a disability is work-related extremely difficult. Firefighters employed by the state should be treated the same as firefighters and police officers employed by other governmental units.

(4) Iowa Retired School Personnel Association. Presentation by Mr. Walt Galvin, Legislative Director.

• Recommendations:
  • Establishing a minimum monthly benefit for people who have served in public employment for 10, 20, or 30 years.
  • Implement a cost of living adjustment for current retiree beneficiaries.
  • Examine the possible establishment of a health care package for the currently retired.
• Rationale: Mr. Galvin stated that the average pre-1976 retiree with 20 years of service receives a monthly benefit of less than $163.

(5) School Administrators of Iowa.

Presentation by Mr. Gaylord Tryon, Executive Director.

• Recommendations: Priority issues:
  • Elimination of the covered wage ceiling; and giving credit to years of service beyond 30 up to a 70 percent maximum.
  • Establish an IPERS Board of Trustees that includes representation from various constituent groups.
  • Maintain the fiscal integrity of the IPERS fund if additional improvements are adopted by increasing the contribution rates for both employers and employees and by increasing the current interest assumption rate.
• Additional priority issues:
  • Change the retirement eligibility requirement to the rule of 85.
  • Provide an option for surviving spouses of members who die before retirement to elect payment through an annuity rather than a lump sum.
• Rationale: It is not good public policy to subject IPERS members to the covered wage ceiling while members of other pension systems do not face a wage ceiling. A new IPERS board would give constituent groups more influence over the process of suggesting benefit enhancements.

(6) Iowa State Education Association.

Presentation by Mr. Lowell Duenbaugh.

• Recommendations (listed in order of priority):
  • Change the retirement eligibility requirement to the rule of 85 or age 62 with 20 or more years of service.
  • Remove the covered wage ceiling.
  • Give credit to years of service over 30.
  • Provide an annually adjusted ad hoc cost of living adjustment to benefits.
  • Provide improved death benefits to surviving spouses.
  • Establish retiree health care coverage.
  • Adopt a single Board of Trustees structure for IPERS to include both benefits and investments.
• Discussion:
  • Teaching has changed tremendously over the last 25 years due to the introduction of computers and other state-of-the-art technologies. The adoption of the Rule of 85 would allow many older teachers to retire which would make way for younger teachers who are more knowledgeable about and more comfortable with the latest technologies.
  • The Association could support increasing both the employers' and the employees' contribution rates in order to pay the cost of any benefit enhancements.
  • Removing the salary cap would allow for a more accurate assessment of the fund's future liabilities. The Association could support an extra assessment on people who would benefit from this change.

(7) IPERS Improvement Association.

Presentation by Mr. Dick Rattray, President.

• The Association supports providing a cost of living adjustment for retirees, modifying the current Rule of 92 to the Rule of 90, and modifying the covered wage ceiling and the service credit cap. Mr. Rattray stressed the importance of protecting the fiscal soundness of IPERS when considering new benefit enhancements. He also requested that the Association be included as a member of any new IPERS benefits board.

(8) Iowa Association of Community College Trustees.

Presentation by Dr. Gene Gardner, Legislative Chair.

• Recommendations:
  • Remove the covered wage ceiling and maintain an actuarially sound IPERS program. This is the Association's top priority.
  • Adopt the Buck Consultants' proposals regarding normal retirement eligibility, increasing the minimum monthly retirement benefit, providing for an automatic post-retirement cost of living adjustment, increasing the death benefit, increasing the amount an IPERS retiree can earn without a reduction in benefits, and establishing an IPERS Board of Trustees or an IPERS Benefits and Investment Board.
• Discussion: Mr. Gardner noted that benefits for community college members are less than those of other states and those of employees of Iowa's Board of Regents' universities.

(9) Iowa Association of School Boards.

Presentation by Mr. Jason Bridie.

• The Association supports considering the modification of the current rule of 92 for normal retirement and eliminating the service credit cap. Mr. Bridie added that Iowa needs to improve its retirement benefits if it hopes to stay number one nationally in educational standards.

(10) American Federation of State and County Municipal Employees.

Presentation by Mr. Ted Anderson.

• Recommendations:
  • Eliminate the covered wage ceiling.
  • Change normal retirement eligibility from the Rule of 92 to the Rule of 85.
  • Legislatively consider an early retirement program.
  • Add more classifications of community-based corrections officers to the protected class status.
  • Adopt the changes recommended by the airport firefighters.

3. Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF).

Presentation by Ms. Mary Jo Small, Associate Vice President, University of Iowa; and Mr. Ted Williams, State Board of Regents.

Overview. Ms. Small described the retirement fund for Regents' institutions. She noted that unlike the other state retirement plans in Iowa which are defined benefit plans, TIAA-CREF is a defined contribution plan wherein the state makes a certain payment into the plan along with the member, and the member's retirement is based on how his or her investments do over time. Ms. Small then provided the Committee with a brief historical overview of these pension plans. She noted that the considerations in establishing this system were to provide immediate vesting, portability, and no continuing liability for the employer. The advantages of the system from an educational institution viewpoint is that the risk is shifted to the employee, there are no administrative costs for the institution, and, since the system is the national standard for college employee retirement, it aids in teacher recruitment.

Discussion. Senator Drake expressed concern about the security of the contributions and investments made in this fund. Mr. Richard Saunders from the University of Iowa stated that the fund is very professionally invested and that the investments are carefully monitored even though the University does not investigate or audit the funds controlled by the plan on its own.

4. Judicial Retirement System.

a. Judicial Department.

Presentation by Ms. Peggy Sullivan, Director of Finance and Personnel.

Ms. Sullivan summarized the recent results from a recent actuarial report and indicated that, depending on the valuation method used, the system's unfunded liabilities had either stayed the same or had been reduced by gthe end of the last fiscal year. She indicated that with the legislative changes to the Senior Judge Program, it should take about 15 years for the system to become actuarially sound.

b. Iowa Judges Association.

Presentation by the Honorable Louis A. Lavorato, Justice of the Iowa Supreme Court and Co-Chairperson of the Iowa Judges Association.

The Association expressed its support for the Legislature's actions in placing the system on track to becoming actuarially sound. The Association made no requests for any changes in the system but urged the Committee to maintain the state's commitment to make a 23.7 percent contribution to the system, to make up the shortfall created last year when the full 23.7 percent was not appropriated, and to continue the additional $5,000 compensation for senior judges.

5. Municipal Fire and Police Retirement System of Iowa (MFPRSI).

a. Municipal Fire and Police Retirement System.
Presentation by Mr. Dennis L. Jacobs, Executive Director and Mr. Dean Johnson, Treasurer of the City of Des Moines.

(1)Recommendations.

• Allow the retirement board to update medical protocols.
• Clarify the timing concerning eligibility for escalation of benefits.
• Provide that the retirement system is subject to marital property orders.
• Provide for the interest to be charged cities for any unfunded liabilities.
• Allow portability of service between this system and the Peace Officers Retirement System.

(2)Issues facing the system:

• Establishing a standardized escalation program. Mr. Jacobs indicated that such a program may be recommended by the system once actuarial information is received.
• Presumptions and disability determination concerns. The Committee raised some concern over a situation in Des Moines where the pension board determined that a firefighter was fit to return to work but the employer determined that the firefighter was not able to return.

b. Iowa State Police Association.
Presentation by Mr. Richard Ahlstrom.

(1) Recommendations:

• Provide a standardized automatic escalator for pensions.
• Provide pretax treatment for employee contributions under the state income tax.
• Allow the escalator for people who retire after 22 years but have not yet reached age 55.
• Provide benefits to surviving spouses similar to benefits under PORS.
• Consider, once the fund is sound, increasing the percentage applied to calculate benefits for additional years of service.

c. Iowa Association of Professional Firefighters.
Presentation by Mr. Jack Reed, President and Mr. Charles Gribble, Legal Counsel.

(1)Recommendations:

• Provide pretax treatment for employee contributions for the state income tax.
• Provide inclusion of infectious diseases and cancer within the presumption that a disease or illness is job-related.
• Provide full retirement at 22 years of service with the escalator without attaining the age of 55.
• Adopt a standardized escalator for the system.

6. Peace Officers Retirement System (PORS).

Peace Officers Retirement System.
Presentation by Mr. Carroll Bidler, Director of Administrative Services.

(1) Recommendations:

• Provide for portability of benefits between PORS and MFPRSI.
• Establish contribution rates for the system based on PORS actuarial information and not on MFPRSI.

(2) Discussion:

• Mr. Bidler reviewed the recent actuarial report with the Committee. He noted that the accumulated benefit of the system had increased even though the funded percentage of the system had decreased. This apparent inconsistency is due to the fact that the funded percentage of the system was calculated on the cost value and not on the market value of the fund.

b. Iowa State Troopers Association and Iowa State Patrol Supervisors Association.
Presentation by Ms. Diane Reid and Mr. Gail Schwab.

(1)Recommendations:

• Maintaining the current contribution levels into the system and provide that employee contributions be on a pre tax basis for state taxes. Increase from .6 percent to 1.5 percent the benefit for each additional year of service from 22 years to 30 years of service.
• Increase the escalators.
• Increase the minimum benefit for surviving spouses.
• Provide escalator benefits for members who vest with 22 years of service regardless of age.

7. Committee Discussion and Future Business.

Numerous Committee members expressed a desire for the cost figures of pursuing the various recommended changes to the respective retirement systems. Representative Gries noted that the Committee should study the costs of providing health coverage to early retirees who do not have Medicare. Co-chairperson Kibbie suggested that if legislative changes are ultimately made, they should be made together in one comprehensive bill and not done piecemeal in a multitude of bills.

Written Materials Filed with the Legislative Service Bureau.

Pre Meeting Distributions:

• Buck Consultants' Report. Submitted by Mr. Joseph Metz, government consultant of Buck Consultants.
• IPERS report to the General Assembly. Submitted by Mr. Greg Cusack, Chief Benefits Officer of IPERS.
• PORS and chapter 411 reports regarding portability between the systems. Submitted by Mr. Carroll Bidler, Director of Administrative Services of PORS.
• IPERS report regarding a hybrid formula. Submitted by Mr. Greg Cusack, Chief Benefits Officer of IPERS.

Meeting Distributions:

• Public Retirement Systems Committee. Submitted By Mr. Bill Hutchins, Iowa State Sheriffs and Deputies Association.
• Four Corrections documents. Community-based corrections protected class category; comparison of duties chart; use of force continuum for the 6th Judicial District; and continuum of force model developed by the Federal Judicial Center. Submitted by Mr. Gary Hinzman, 6th Judicial District Department of Corrections.
• Iowa Corrections Association Report to the Retirement Committee. Submitted by Ms. Jean Kuehl, Iowa Corrections Association.
• Airport Firefighters Association report on presumption. Submitted by Mr. Dale Pradovich, Airport Firefighters.
• Three IPERS documents. Report on required contribution rate as a consequence of certain priorities; consensus recommendations of constituent advisory groups; and Milliman & Robertson report on IPERS. Submitted by Mr. Greg Cusack, Chief Benefits Officer of IPERS.

IPERS Organizations Distributions:

• Titled by association name. Submitted by Mr. Walt Galvin, Legislative Director of the Iowa Retired School Personnel Association.
• Two documents. Recommendations to the Committee; and IPERS comparability study. Submitted by Mr. Gaylord Tryon of the School Administrators of Iowa.
• Summary of testimony. Submitted by Mr. Lowell Duenbaugh of the Iowa State Education Association.
• Goals for 1996. Submitted by Mr. Dick Rattray of the IPERS Improvement Association.
• Letter to the Committee. Submitted by Dr. Gene Gardner of the Iowa Association of Community College Trustees.
• IPERS testimony. Submitted by Mr. Jason Bridie of the Iowa Association of School Boards.
• Recommendations of AFSCME. Submitted by Mr. Ted Anderson, Council 61 of AFSCME.

TIAA-CREF Distributions:

• Statement prepared by Mary Jo Small to the Committee. Submitted by Ms. Mary Jo Small, Associate Vice President of the University of Iowa.

MFPRSI Distributions:

• Three documents. Comments on chapter 411, states with presumptive cancer laws, and 1994 death and injury survey. Submitted by Mr. Jack Reed, President of the Iowa Association of Professional Firefighters.
• Report to the Committee. Submitted by Mr. Dennis L. Jacobs, Executive Director of MFPRSI.

PORS Distributions:

• Proposed improvements, 1996 Legislative Session. Submitted by Ms. Diane Reid of the Iowa State Troopers Association and Mr. Gail Schwab of the Iowa State Patrol Supervisors Association.
• Three documents. Actuarial report as of July 1, 1995, proposed legislation, and funding analysis. Submitted by Mr. Carroll Bidler of PORS.

Judicial Retirement Distribution:

• Seven-page document. Submitted by Ms. Peggy Sullivan, Director of Finance and Personnel of the Judicial Department.

OTHER INFORMATION FOR THIS COMMITTEE:

| Charge | Members | Staff | Final Report |

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