House File 2252 - Introduced
HOUSE FILE
BY MAY
Passed House, Date Passed Senate, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act concerning earning restrictions and establishing a bona
2 fide retirement for certain science and mathematics teachers
3 under the Iowa public employees' retirement system.
4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
5 TLSB 5762YH 81
6 ec/sh/8
PAG LIN
1 1 Section 1. Section 97B.48A, subsection 1, unnumbered
1 2 paragraph 1, Code 2005, is amended to read as follows:
1 3 If a member who has not reached the member's sixty=fifth
1 4 birthday and who has a bona fide retirement under this chapter
1 5 is in regular full=time employment during a calendar year, the
1 6 member's retirement allowance shall be reduced by fifty cents
1 7 for each dollar the member earns over the limit provided in
1 8 this subsection. However, employment is not full=time
1 9 employment until the member receives remuneration in an amount
1 10 in excess of thirty thousand dollars for a calendar year, an
1 11 amount in excess of forty=five thousand dollars for a calendar
1 12 year for employment as a science or mathematics teacher in a
1 13 public school district, or an amount equal to the amount of
1 14 remuneration permitted for a calendar year for persons under
1 15 sixty=five years of age before a reduction in federal social
1 16 security retirement benefits is required, whichever is higher.
1 17 Effective the first of the month in which a member attains the
1 18 age of sixty=five years, a retired member may receive a
1 19 retirement allowance without a reduction after return to
1 20 covered employment regardless of the amount of remuneration
1 21 received.
1 22 Sec. 2. Section 97B.52A, subsection 1, paragraph c, Code
1 23 Supplement 2005, is amended to read as follows:
1 24 c. (1) For a member whose first month of entitlement is
1 25 July 2000 or later, the member does not return to any
1 26 employment with a covered employer until the member has
1 27 qualified for at least one calendar month of retirement
1 28 benefits, and the member does not return to covered employment
1 29 until the member has qualified for no fewer than four calendar
1 30 months of retirement benefits.
1 31 (2) For purposes of determining a bona fide retirement
1 32 under this paragraph, the following apply:
1 33 (a) effective Effective July 1, 2000, any employment with
1 34 a covered employer does not include employment as an elective
1 35 official or member of the general assembly if the member is
2 1 not covered under this chapter for that employment.
2 2 (b) For purposes of determining a bona fide retirement
2 3 under this paragraph and for a member whose first month of
2 4 entitlement is July 2004 or later, but before July 2006,
2 5 covered employment does not include employment as a licensed
2 6 health care professional by a public hospital as defined in
2 7 section 249J.3, with the exception of public hospitals
2 8 governed pursuant to chapter 226.
2 9 (c) For a member whose first month of entitlement is July
2 10 2006 or later, covered employment does not include employment
2 11 as a teacher teaching science or mathematics in a public
2 12 school district.
2 13 EXPLANATION
2 14 This bill concerns members of the Iowa public employees'
2 15 retirement system (IPERS) who retire and return to employment
2 16 under IPERS as a teacher of science or mathematics in a public
2 17 school district.
2 18 The bill increases the amount that an IPERS member who has
2 19 a bona fide retirement and is under 65 years of age can earn
2 20 in public employment as a mathematics or science teacher
2 21 covered by IPERS from $30,000 to $45,000 and still continue to
2 22 receive the member's retirement allowance without a reduction.
2 23 An IPERS member receiving a retirement allowance who is under
2 24 age 65 will have their IPERS retirement allowance reduced by
2 25 50 cents for each dollar the member earns in a calendar year
2 26 in employment covered by IPERS over the earnings limit
2 27 established in the bill.
2 28 The bill also provides that a member of IPERS can retire
2 29 and be reemployed as a teacher of science or mathematics after
2 30 having qualified for one calendar month of retirement
2 31 benefits. Under current law, a member of IPERS cannot return
2 32 to any full=time teaching position covered by IPERS for four
2 33 months following retirement.
2 34 LSB 5762YH 81
2 35 ec:rj/sh/8