Senate File 229

                                       SENATE FILE       
                                       BY  McCOY


    Passed Senate, Date               Passed House,  Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act providing for a study on a deferred retirement option
  2    program for the public safety peace officers' retirement,
  3    accident, and disability system and providing an effective
  4    date.
  5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  6 TLSB 2595SS 80
  7 ec/pj/5

PAG LIN

  1  1    Section 1.  PUBLIC SAFETY PEACE OFFICERS' RETIREMENT,
  1  2 ACCIDENT, AND DISABILITY SYSTEM == STUDY ON DEFERRED
  1  3 RETIREMENT OPTION PROGRAM == REPORT.  The board of trustees of
  1  4 the public safety peace officers' retirement, accident, and
  1  5 disability system created under chapter 97A shall conduct a
  1  6 study to consider whether to implement a deferred retirement
  1  7 option program (DROP) for its members.  In pursuing this
  1  8 proposal, the board shall survey its members and associations
  1  9 representing members of the system in order to determine the
  1 10 level of members' interest and the conditions under which
  1 11 members would, or would not, participate in such a program.
  1 12 On or before October 1, 2003, the board shall file a report
  1 13 with the legislative service bureau, for distribution to the
  1 14 public retirement systems committee established in section
  1 15 97D.4, which contains its findings and recommendations.  The
  1 16 report shall also contain any applicable actuarial information
  1 17 concerning the costs of any proposal or proposals.
  1 18    Sec. 2.  EFFECTIVE DATE.  This Act, being deemed of
  1 19 immediate importance, takes effect upon enactment.
  1 20                           EXPLANATION
  1 21    This bill requires the board of trustees of the Code
  1 22 chapter 97A retirement system for peace officers of the
  1 23 department of public safety to conduct a study to consider
  1 24 whether to implement a deferred retirement option program
  1 25 (DROP) for its members.  The board shall submit its findings
  1 26 to the legislative service bureau for distribution to the
  1 27 legislative public retirement systems committee by October 1,
  1 28 2003.
  1 29    The bill takes effect upon enactment.
  1 30 LSB 2595SS 80
  1 31 ec/pj/5
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