Senate
File
220
-
Introduced
SENATE
FILE
220
BY
COMMITTEE
ON
EDUCATION
(SUCCESSOR
TO
SF
66)
A
BILL
FOR
An
Act
relating
to
funding
for
retirement
incentive
programs
1
offered
by
school
districts
and
including
applicability
2
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
1701SV
(1)
85
md/sc
S.F.
220
Section
1.
Section
279.46,
Code
2013,
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
retire
10
not
later
than
the
start
of
the
next
following
school
calendar.
11
The
age
at
which
employees
shall
be
designated
eligible
for
12
the
program
shall
be
at
the
discretion
of
the
board.
An
13
employee
retiring
under
this
section
may
apply
for
a
retirement
14
allowance
under
chapter
97B
or
chapter
294
.
The
board
may
15
include
in
the
district
management
levy
an
amount
to
pay
the
16
total
estimated
accumulated
cost
to
the
school
district
of
17
the
health
or
medical
insurance
coverage,
bonus,
or
other
18
incentives
for
employees
within
the
age
range
of
fifty-five
to
19
sixty-five
years
of
age
or
older
who
retire
under
this
section
.
20
Sec.
2.
APPLICABILITY.
This
Act
applies
to
retirement
21
incentive
programs
in
existence
on
or
after
July
1,
2013.
22
EXPLANATION
23
This
bill
makes
changes
affecting
the
retirement
incentive
24
programs
school
districts
may
offer
to
employees
and
pay
for
25
through
the
district
management
levy
under
Code
section
298.4.
26
Currently,
districts
can
pay
for
the
program
through
the
27
district
management
levy
for
employees
between
the
ages
of
55
28
and
65.
The
bill
allows
the
district
to
pay
for
such
a
program
29
through
the
district
management
levy
for
employees
who
are
55
30
years
of
age
or
older.
31
The
Act
applies
to
retirement
incentive
programs
in
32
existence
on
or
after
July
1,
2013.
33
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