House File 592 - Introduced HOUSE FILE BY FREVERT Passed House, Date Passed Senate, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act providing for creditable service under the public safety 2 peace officers' retirement system for service under certain 3 prior city fire retirement and police retirement systems and 4 providing an appropriation. 5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 6 TLSB 2918HH 81 7 ec/cf/24 PAG LIN 1 1 Section 1. Section 97A.4, Code 2005, is amended by adding 1 2 the following new unnumbered paragraph: 1 3 NEW UNNUMBERED PARAGRAPH. Upon application by the member, 1 4 the board of trustees shall credit as service for a member of 1 5 the system a previous period of service as a member of a city 1 6 fire retirement system and police retirement system operating 1 7 under chapter 411 prior to January 1, 1992, for which service 1 8 was not eligible to be transferred to this system pursuant to 1 9 section 97A.17. 1 10 Sec. 2. PUBLIC SAFETY PEACE OFFICERS' RETIREMENT, 1 11 ACCIDENT, AND DISABILITY SYSTEM == ADDITIONAL APPROPRIATION. 1 12 1. Notwithstanding any provision of section 97A.8 to the 1 13 contrary, the Iowa department of public safety peace officers' 1 14 retirement, accident, and disability system as defined in 1 15 section 97A.2 shall not increase the contribution rate of 1 16 members of the system to cover any increase in cost to the 1 17 system resulting from this Act. 1 18 2. In addition to any payments to the pension accumulation 1 19 fund as provided in section 97A.8, there shall be appropriated 1 20 from the general fund of the state to the pension accumulation 1 21 fund described in section 97A.8 an annual amount equal to 1 22 fifty thousand dollars for the fiscal period beginning July 1, 1 23 2005, and ending June 30, 2027. 1 24 EXPLANATION 1 25 This bill makes changes to the public safety peace 1 26 officers' retirement, accident, and disability system (PORS) 1 27 created in Code chapter 97A. 1 28 Code section 97A.4 is amended to provide that a member of 1 29 PORS can have service credited under PORS for service in a 1 30 city fire and police retirement system operating under Code 1 31 chapter 411 prior to those systems' consolidation on January 1 32 1, 1992, if the person was not eligible to transfer that 1 33 service from the Code chapter 411 system to PORS. 1 34 The bill further provides that members of PORS shall not 1 35 have their contribution rates increased to pay for the new 2 1 benefit provided by the bill. In addition, the bill provides 2 2 for an additional annual appropriation to the pension 2 3 accumulation fund of PORS for the fiscal period beginning July 2 4 1, 2005, and ending June 30, 2027, of $50,000. 2 5 LSB 2918HH 81 2 6 ec:nh/cf/24