Senate
File
2166
-
Introduced
SENATE
FILE
2166
BY
KRAAYENBRINK
A
BILL
FOR
An
Act
concerning
compensation
and
benefits
limits,
relating
to
1
the
earnings
limitation
for
retirees
under
the
Iowa
public
2
employees’
retirement
system
and
compensation
limits
for
3
school
corporation
board
members.
4
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
5
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Section
1.
Section
97B.48A,
subsection
1,
paragraph
a,
Code
1
2022,
is
amended
to
read
as
follows:
2
a.
If
a
member
who
has
not
reached
the
member’s
sixty-fifth
3
birthday
and
who
has
a
bona
fide
retirement
under
this
chapter
4
is
in
regular
full-time
employment
during
a
calendar
year,
5
the
member’s
retirement
allowance
shall
be
reduced
by
fifty
6
cents
for
each
dollar
the
member
earns
over
the
limit
provided
7
in
this
subsection
.
However,
employment
is
not
full-time
8
employment
until
the
member
receives
remuneration
in
an
amount
9
in
excess
of
thirty
fifty
thousand
dollars
for
a
calendar
year,
10
or
an
amount
equal
to
the
amount
of
remuneration
permitted
11
for
a
calendar
year
for
persons
under
sixty-five
years
of
12
age
before
a
reduction
in
federal
social
security
retirement
13
benefits
is
required,
whichever
is
higher.
Effective
the
first
14
of
the
month
in
which
a
member
attains
the
age
of
sixty-five
15
years,
a
retired
member
may
receive
a
retirement
allowance
16
without
a
reduction
after
return
to
covered
employment
17
regardless
of
the
amount
of
remuneration
received.
18
Sec.
2.
Section
279.7A,
subsection
2,
Code
2022,
is
amended
19
to
read
as
follows:
20
2.
This
section
does
not
apply
to
contracts
for
the
21
purchase
of
goods
or
services
which
benefit
a
director,
or
22
to
compensation
for
part-time
or
temporary
employment
which
23
benefits
a
director,
if
the
benefit
to
the
director
does
not
24
exceed
six
twenty
thousand
dollars
in
a
fiscal
year,
and
25
contracts
made
by
a
school
board,
upon
competitive
bid
in
26
writing,
publicly
invited
and
opened.
27
EXPLANATION
28
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
29
the
explanation’s
substance
by
the
members
of
the
general
assembly.
30
This
bill
modifies
the
earnings
limitation
for
retirees
31
under
the
Iowa
public
employees’
retirement
system
(IPERS)
and
32
the
limitation
on
compensation
and
benefits
for
a
member
of
a
33
school
board.
34
Code
section
97B.48A
provides
that
a
retiree
under
IPERS
who
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2166
has
not
reached
age
65
shall
have
their
retirement
allowance
1
reduced
by
50
cents
for
every
dollar
the
retiree
earns
over
2
$30,000
in
full-time
employment
covered
by
IPERS.
The
bill
3
raises
this
earnings
limitation
provision
to
$50,000.
4
Code
section
279.7A,
concerning
limitations
on
contracts
5
that
benefit
a
member
of
the
board
of
directors
of
a
school
6
corporation,
is
amended
to
allow
a
contract
if
the
benefit
from
7
the
contract
to
the
director
does
not
exceed
$20,000
instead
of
8
$6,00.
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