Senate
File
2297
-
Introduced
SENATE
FILE
2297
BY
COMMITTEE
ON
STATE
GOVERNMENT
(SUCCESSOR
TO
SSB
3038)
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
5302SV
(2)
91
sc/ns
S.F.
2297
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
3
and
city
of
last
known
address
of
a
member
or
beneficiary
to
4
the
treasurer
of
state
for
purposes
of
assisting
the
system
in
5
locating
the
member
or
beneficiary.
6
Sec.
2.
Section
97B.18,
Code
2026,
is
amended
to
read
as
7
follows:
8
97B.18
Statement
of
accumulated
credit.
9
After
the
expiration
of
each
calendar
year
and
prior
to
July
10
1
of
the
succeeding
year
,
the
system
shall
furnish
each
member
11
with
a
statement
of
the
member’s
accumulated
contributions
and
12
benefit
credits
accrued
under
this
chapter
up
to
the
end
of
13
that
calendar
year
over
the
prior
four
quarters
and
additional
14
information
the
system
deems
useful
to
a
member.
The
system
15
may
furnish
an
estimate
of
the
credits
as
of
the
projected
16
normal
retirement
date
of
the
member
under
section
97B.45
.
The
17
records
of
the
system
as
shown
by
the
statement
as
to
the
wages
18
of
each
individual
member
for
a
year
and
the
periods
of
payment
19
shall
be
conclusive
for
the
purpose
of
this
chapter
,
except
as
20
otherwise
provided
in
this
chapter
.
21
Sec.
3.
Section
97B.48,
subsection
6,
Code
2026,
is
amended
22
to
read
as
follows:
23
6.
Effective
July
1,
2005,
monthly
Monthly
retirement
24
allowance
payments
shall
be
directly
deposited
without
charge
25
to
a
retired
member’s
account
via
electronic
funds
transfer.
26
A
In
lieu
of
electronic
funds
transfers,
a
retired
member
27
may
elect
to
receive
monthly
allowance
payments
in
the
form
28
of
a
reloadable
payment
card
for
which
the
system
shall
not
29
charge
an
administrative
fee,
or
as
paper
warrants
in
lieu
30
of
electronic
funds
transfers,
but
for
which
the
system
31
shall
charge
an
administrative
fee
for
processing
such
paper
32
warrants
.
However,
the
system
may,
for
good
cause
shown,
waive
33
the
administrative
fee.
The
fee
may
be
automatically
deducted
34
from
the
monthly
retirement
allowance
before
the
warrant
is
35
-1-
LSB
5302SV
(2)
91
sc/ns
1/
2
S.F.
2297
issued
to
the
retired
member.
1
Sec.
4.
EFFECTIVE
DATE.
This
Act,
being
deemed
of
immediate
2
importance,
takes
effect
upon
enactment.
3
EXPLANATION
4
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
5
the
explanation’s
substance
by
the
members
of
the
general
assembly.
6
This
bill
allows
the
Iowa
public
employees’
retirement
7
system
(IPERS)
to
release
the
legal
name
and
city
of
last
known
8
address
of
a
member
or
beneficiary
to
the
treasurer
of
state
to
9
assist
IPERS
in
locating
the
member
or
beneficiary.
10
The
bill
removes
the
requirement
for
IPERS,
between
January
11
and
June
of
each
calendar
year,
to
provide
each
member
with
a
12
statement
of
the
member’s
accumulated
contributions
and
benefit
13
credits
accrued
up
to
the
end
of
the
prior
calendar
year
and
14
instead
requires
IPERS
to
provide
each
member
a
statement
15
reflecting
the
prior
four
quarters
during
each
calendar
year.
16
Under
current
law,
a
retired
member
can
receive
monthly
17
retirement
allowance
payments
via
electronic
funds
transfers
18
or,
with
the
cost
of
an
administrative
fee,
as
paper
warrants.
19
The
bill
provides
a
third
option,
allowing
a
retired
member
to
20
choose
to
receive
monthly
payments
in
the
form
of
a
reloadable
21
payment
card
without
being
charged
an
administrative
fee.
22
The
bill
takes
effect
upon
enactment.
23
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5302SV
(2)
91
sc/ns
2/
2