Senate
Study
Bill
3016
-
Introduced
SENATE/HOUSE
FILE
_____
BY
(PROPOSED
IOWA
PUBLIC
EMPLOYEES’
RETIREMENT
SYSTEM
BILL)
A
BILL
FOR
An
Act
establishing
a
federal-state
agreement
administration
1
fund
for
purposes
of
funding
the
duties
of
the
state’s
2
social
security
administrator
and
providing
an
3
appropriation.
4
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
5
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S.F.
_____
H.F.
_____
Section
1.
NEW
SECTION
.
97C.13A
Federal-state
agreement
1
administration
fund
——
appropriation.
2
1.
A
federal-state
agreement
administration
fund
is
created
3
in
the
office
of
the
treasurer
of
state
under
the
control
4
of
the
state
agency.
There
is
appropriated
annually
from
5
the
general
fund
of
the
state
to
the
federal-state
agreement
6
administration
fund
twenty
thousand
dollars
to
pay
for
expenses
7
incurred
by
the
state
agency
in
the
fulfillment
of
its
duties
8
under
this
chapter.
9
2.
The
federal-state
agreement
administration
fund
shall
be
10
established
and
held
separate
and
apart
from
any
other
funds
11
or
moneys
of
the
state
and
shall
be
used
and
administered
12
exclusively
for
the
purposes
of
this
chapter.
13
3.
Notwithstanding
section
8.33,
any
unexpended
balance
14
in
the
fund
at
the
end
of
each
fiscal
year
shall
not
revert
15
but
shall
remain
in
the
fund
for
expenditure
for
subsequent
16
fiscal
years.
Notwithstanding
section
12C.7,
any
interest
and
17
earnings
on
amounts
deposited
in
the
fund
shall
be
credited
to
18
the
fund.
19
EXPLANATION
20
This
bill
establishes
a
federal-state
agreement
21
administration
fund
under
the
control
of
the
Iowa
public
22
employees’
retirement
system
(IPERS).
The
bill
provides
an
23
annual
appropriation
of
$20,000
to
the
fund.
Moneys
in
the
24
fund
shall
pay
expenses
incurred
by
IPERS
relative
to
the
25
duties
of
IPERS
under
Code
chapter
97C,
the
federal
Social
26
Security
Enabling
Act.
The
bill
provides
that
moneys
in
the
27
fund
shall
not
revert
and
any
interest
and
earnings
on
moneys
28
deposited
in
the
fund
shall
be
credited
to
the
fund.
29
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