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Senate File 145 - IntroducedA Bill ForAn Act 1providing for appropriations to the statewide fire
2and police retirement system and including effective date
3provisions.
4BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. NEW SECTION. 411.19 State appropriation.
21. There is appropriated from the general fund of the state
3for each fiscal year an amount equal to three and seventy-nine
4hundredths percent of the covered earnable compensation to be
5distributed to the statewide fire and police retirement system,
6or to the cities participating in the system, to finance the
7cost of benefits provided in this chapter by amendments of the
8Acts of the Sixty-sixth General Assembly, chapter 1089. The
9method of distribution shall be determined by the board of
10trustees based on information provided by the actuary of the
11statewide retirement system.
122. Moneys appropriated by the state shall not be used
13to reduce the normal rate of contribution of any city below
14seventeen percent.
15 Sec. 2. STATEWIDE FIRE AND POLICE RETIREMENT SYSTEM FUND —
16APPROPRIATION.
171. There is appropriated from the general fund of the state
18for deposit in the statewide fire and police retirement fund
19created in section 411.8, for the fiscal year beginning July 1,
202018, and ending June 30, 2019, the following amount:
.................................................. $2111,500,000
222. Moneys appropriated by the state pursuant to this section
23shall not be used to reduce the normal rate of contribution of
24any city below 17 percent.
25 Sec. 3. EFFECTIVE UPON ENACTMENT. The following provision
26or provisions of this Act, being deemed of immediate
27importance, take effect upon enactment:
28The section of this Act providing for an appropriation to the
29statewide fire and police retirement fund for the fiscal year
30beginning July 1, 2018.
31EXPLANATION
32The inclusion of this explanation does not constitute agreement with
33the explanation’s substance by the members of the general assembly.
34This bill provides for a state appropriation to the
35statewide fire and police retirement system established in
-1-1Code chapter 411 equal to 3.79 percent of the covered earnable
2compensation of the members. The percentage represents the
3cost of benefits provided by Acts of the 66th General Assembly.
4The bill restores the standing state appropriation to the
5retirement system that was repealed by 2010 Acts, chapter 1167.
6The repealed language had set the state appropriation based
7upon the cost of benefits provided by the Acts of the 66th
8General Assembly but did not specify a percentage.
9The bill also provides for an appropriation from the general
10fund of the state to the statewide fire and police retirement
11system fund for the fiscal year beginning July 1, 2018, for
12$11.5 million. This provision of the bill takes effect upon
13enactment.
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2and police retirement system and including effective date
3provisions.
4BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. NEW SECTION. 411.19 State appropriation.
21. There is appropriated from the general fund of the state
3for each fiscal year an amount equal to three and seventy-nine
4hundredths percent of the covered earnable compensation to be
5distributed to the statewide fire and police retirement system,
6or to the cities participating in the system, to finance the
7cost of benefits provided in this chapter by amendments of the
8Acts of the Sixty-sixth General Assembly, chapter 1089. The
9method of distribution shall be determined by the board of
10trustees based on information provided by the actuary of the
11statewide retirement system.
122. Moneys appropriated by the state shall not be used
13to reduce the normal rate of contribution of any city below
14seventeen percent.
15 Sec. 2. STATEWIDE FIRE AND POLICE RETIREMENT SYSTEM FUND —
16APPROPRIATION.
171. There is appropriated from the general fund of the state
18for deposit in the statewide fire and police retirement fund
19created in section 411.8, for the fiscal year beginning July 1,
202018, and ending June 30, 2019, the following amount:
.................................................. $2111,500,000
222. Moneys appropriated by the state pursuant to this section
23shall not be used to reduce the normal rate of contribution of
24any city below 17 percent.
25 Sec. 3. EFFECTIVE UPON ENACTMENT. The following provision
26or provisions of this Act, being deemed of immediate
27importance, take effect upon enactment:
28The section of this Act providing for an appropriation to the
29statewide fire and police retirement fund for the fiscal year
30beginning July 1, 2018.
31EXPLANATION
32The inclusion of this explanation does not constitute agreement with
33the explanation’s substance by the members of the general assembly.
34This bill provides for a state appropriation to the
35statewide fire and police retirement system established in
-1-1Code chapter 411 equal to 3.79 percent of the covered earnable
2compensation of the members. The percentage represents the
3cost of benefits provided by Acts of the 66th General Assembly.
4The bill restores the standing state appropriation to the
5retirement system that was repealed by 2010 Acts, chapter 1167.
6The repealed language had set the state appropriation based
7upon the cost of benefits provided by the Acts of the 66th
8General Assembly but did not specify a percentage.
9The bill also provides for an appropriation from the general
10fund of the state to the statewide fire and police retirement
11system fund for the fiscal year beginning July 1, 2018, for
12$11.5 million. This provision of the bill takes effect upon
13enactment.
-2-ec/rn