SF 206 (LSB 1937XS (1) 85)

SENATE FILE 206

BY  ERNST

A BILL FOR

An Act relating to property division in dissolution proceedings relating to military disposable retired pay.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 598.21, Code 2013, is amended by adding the following new subsection:
   NEW SUBSECTION.  6A.  Disposable retired pay —— member of the military.  Disposable retired pay, as defined pursuant to 10 U.S.C. § 1408(a)(4), to which a party is entitled shall be subject to property division but shall be restricted such that any award shall correspond with the party’s length of service and pay grade at the time of the dissolution, not the future time of retirement, if applicable.
EXPLANATION
   Under the federal Uniformed Services Former Spouses Protection Act, the disposable retired pay of a member of the military may be considered property in a dissolution of marriage. This bill provides, however, that any award of disposable retired pay is to correspond with the length of service and pay grade of the recipient party at the time of the dissolution, not the future time of retirement, if applicable.