SF 2341 (LSB 5809XS (2) 83)

SENATE FILE 2341

BY  DANIELSON

A BILL FOR

An Act concerning marital support orders under the statewide fire and police retirement system.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 411.13, Code 2009, is amended to read as follows:
   411.13  Exemption from execution and other process or assignment —— exceptions.

   The right of any person to a pension, annuity, or retirement allowance, to the return of contributions, the pension, annuity, or retirement allowance itself, any optional benefit or death benefit, any other right accrued or accruing to any person under this chapter, and the moneys in the fire and police retirement fund created under this chapter, are not subject to execution, garnishment, attachment, or any other process whatsoever, and are unassignable except for the purposes of enforcing child, spousal, or medical support obligations or marital property orders, or as otherwise specifically provided in this chapter. For the purposes of enforcing child, spousal, or medical support obligations, the garnishment or attachment of or the execution against compensation due a person under this chapter shall not exceed the amount specified in 15 U.S.C. § 1673(b).  The retirement system shall comply with the provisions of a marital property order requiring a particular benefit distribution or designated beneficiary if the selection is not otherwise prohibited by this chapter.
EXPLANATION
   This bill provides the statewide fire and police retirement system created in Code chapter 411 shall comply with the provisions of a marital property order requiring a particular benefit distribution or designated beneficiary if the selection is not otherwise prohibited by Code chapter 411.