Senate
File
2064
-
Introduced
SENATE
FILE
2064
BY
DANIELSON
A
BILL
FOR
An
Act
concerning
retirement
incentive
programs
for
school
1
district
employees.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
TLSB
5815SS
(3)
84
ec/sc
S.F.
2064
Section
1.
Section
279.46,
Code
2011,
is
amended
to
read
as
1
follows:
2
279.46
Retirement
incentives
——
tax.
3
The
board
of
directors
of
a
school
district
may
adopt
a
4
program
for
payment
of
a
monetary
bonus,
continuation
of
5
health
or
medical
insurance
coverage,
or
other
incentives
6
for
encouraging
its
employees
to
retire
before
the
normal
7
retirement
date
as
defined
in
chapter
97B
.
The
program
is
8
available
only
to
employees
who
notify
the
board
of
directors
9
prior
to
April
1
of
the
fiscal
year
that
they
intend
to
10
retire
not
later
than
the
start
of
the
next
following
school
11
calendar.
The
age
,
and
applicable
years
of
service
if
any,
at
12
which
employees
shall
be
designated
eligible
for
the
program
13
shall
be
at
the
discretion
of
the
board.
An
employee
retiring
14
under
this
section
may
apply
for
a
retirement
allowance
under
15
chapter
97B
or
chapter
294
.
The
board
may
include
in
the
16
district
management
levy
an
amount
to
pay
the
total
estimated
17
accumulated
cost
to
the
school
district
of
the
health
or
18
medical
insurance
coverage,
bonus,
or
other
incentives
for
19
employees
within
the
age
range
of
fifty-five
to
sixty-five
20
years
of
age
who
retire
under
this
section
.
21
EXPLANATION
22
This
bill
concerns
eligibility
requirements
for
retirement
23
incentive
programs
that
a
school
district
board
of
directors
24
may
adopt
for
its
employees.
Current
law
provides
that
any
25
retirement
incentive
program
shall
be
limited
to
encouraging
26
employees
to
retire
before
their
normal
retirement
date
under
27
the
Iowa
public
employees’
retirement
system
(IPERS)
and
that
28
the
board
may
include
the
costs
of
any
retirement
incentive
29
program
adopted
in
the
district
management
levy
only
for
those
30
employees
from
age
55
to
65
who
retire.
The
bill
eliminates
31
these
specific
age
and
service
requirements
relative
to
the
32
retirement
incentive
program
adopted
by
a
school
board.
The
33
bill
also
provides
that
a
school
board
may
adopt
a
years
of
34
service
requirement
for
the
retirement
incentive
program
it
may
35
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offer.
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