House File 89 - Enrolled House File 89 AN ACT AUTHORIZING A RETIREMENT SYSTEM MERGER RELATING TO AN ALTERNATIVE RETIREMENT SYSTEM FOR CERTAIN SCHOOL DISTRICT EMPLOYEES. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: Section 1. Section 97B.42C, Code 2017, is amended to read as follows: 97B.42C Retirement system merger —— municipal utility retirement system . A municipal water utility or waterworks that has established a pension and annuity retirement system for its employees pursuant to chapter 412 , or a school district that has established a pension and annuity retirement system for its employees pursuant to chapter 294, may adopt a resolution to authorize the merger of its pension and annuity retirement system with and into the Iowa public employees’ retirement system. The system is authorized, but is not required, to accept such a proposal. The governing body of the municipal water utility or waterworks or school district and the Iowa public employees’ retirement system shall, acting in their fiduciary capacities, mutually determine the terms and conditions of such a merger, including any additional funds necessary to fund the service credits being transferred to the Iowa public employees’ retirement system, and either party

House File 89, p. 2 may decline the merger if they cannot agree on such terms and conditions. The system shall adopt such rules as it deems necessary and prudent to effectuate mergers as provided by this section . ______________________________ LINDA UPMEYER Speaker of the House ______________________________ JACK WHITVER President of the Senate I hereby certify that this bill originated in the House and is known as House File 89, Eighty-seventh General Assembly. ______________________________ CARMINE BOAL Chief Clerk of the House Approved _______________, 2017 ______________________________ TERRY E. BRANSTAD Governor