House
File
2345
-
Introduced
HOUSE
FILE
2345
BY
COMMITTEE
ON
STATE
GOVERNMENT
(SUCCESSOR
TO
HSB
585)
A
BILL
FOR
An
Act
relating
to
matters
under
the
purview
of
the
Iowa
public
1
employees’
retirement
system,
and
including
effective
date
2
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
5302HV
(2)
91
sc/ns
H.F.
2345
Section
1.
Section
97B.17,
Code
2026,
is
amended
by
adding
1
the
following
new
subsection:
2
NEW
SUBSECTION
.
6.
The
system
may
release
the
legal
name
of
3
a
member
or
beneficiary
to
the
treasurer
of
state
for
purposes
4
of
assisting
the
system
in
locating
the
member
or
beneficiary.
5
Sec.
2.
Section
97B.18,
Code
2026,
is
amended
to
read
as
6
follows:
7
97B.18
Statement
of
accumulated
credit.
8
After
the
expiration
of
each
calendar
year
and
prior
to
July
9
1
of
the
succeeding
year
,
the
system
shall
furnish
each
member
10
with
a
statement
of
the
member’s
accumulated
contributions
and
11
benefit
credits
accrued
under
this
chapter
up
to
the
end
of
12
that
calendar
year
over
the
prior
four
quarters
and
additional
13
information
the
system
deems
useful
to
a
member.
The
system
14
may
furnish
an
estimate
of
the
credits
as
of
the
projected
15
normal
retirement
date
of
the
member
under
section
97B.45
.
The
16
records
of
the
system
as
shown
by
the
statement
as
to
the
wages
17
of
each
individual
member
for
a
year
and
the
periods
of
payment
18
shall
be
conclusive
for
the
purpose
of
this
chapter
,
except
as
19
otherwise
provided
in
this
chapter
.
20
Sec.
3.
Section
97B.48,
subsection
6,
Code
2026,
is
amended
21
to
read
as
follows:
22
6.
Effective
July
1,
2005,
monthly
Monthly
retirement
23
allowance
payments
shall
be
directly
deposited
without
charge
24
to
a
retired
member’s
account
via
electronic
funds
transfer.
25
A
In
lieu
of
electronic
funds
transfers,
a
retired
member
26
may
elect
to
receive
monthly
allowance
payments
in
the
form
27
of
a
reloadable
payment
card
for
which
the
system
shall
not
28
charge
an
administrative
fee,
or
as
paper
warrants
in
lieu
29
of
electronic
funds
transfers,
but
for
which
the
system
30
shall
charge
an
administrative
fee
for
processing
such
paper
31
warrants
.
However,
the
system
may,
for
good
cause
shown,
waive
32
the
administrative
fee.
The
fee
may
be
automatically
deducted
33
from
the
monthly
retirement
allowance
before
the
warrant
is
34
issued
to
the
retired
member.
35
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5302HV
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91
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1/
2
H.F.
2345
Sec.
4.
EFFECTIVE
DATE.
This
Act,
being
deemed
of
immediate
1
importance,
takes
effect
upon
enactment.
2
EXPLANATION
3
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
4
the
explanation’s
substance
by
the
members
of
the
general
assembly.
5
This
bill
allows
the
Iowa
public
employees’
retirement
6
system
(IPERS)
to
release
the
legal
name
of
a
member
or
7
beneficiary
to
the
treasurer
of
state
to
assist
IPERS
in
8
locating
the
member
or
beneficiary.
9
The
bill
removes
the
requirement
for
IPERS,
between
January
10
and
June
of
each
calendar
year,
to
provide
each
member
with
a
11
statement
of
the
member’s
accumulated
contributions
and
benefit
12
credits
accrued
up
to
the
end
of
the
prior
calendar
year
and
13
instead
requires
IPERS
to
provide
each
member
a
statement
14
reflecting
the
prior
four
quarters
during
each
calendar
year.
15
Under
current
law,
a
retired
member
can
receive
monthly
16
retirement
allowance
payments
via
electronic
funds
transfers
17
or,
with
the
cost
of
an
administrative
fee,
as
paper
warrants.
18
The
bill
provides
a
third
option,
allowing
a
retired
member
to
19
choose
to
receive
monthly
payments
in
the
form
of
a
reloadable
20
payment
card
without
being
charged
an
administrative
fee.
21
The
bill
takes
effect
upon
enactment.
22
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2/
2