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Senate File 2266 - IntroducedA Bill ForAn Act 1concerning compensation and benefits limits, relating to
2the earnings limitation for retirees under the Iowa public
3employees’ retirement system and compensation limits for
4school corporation board members, and including effective
5date provisions.
6BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 97B.48A, subsection 1, paragraph a, Code
22022, is amended to read as follows:
3a. If a member who has not reached the member’s sixty-fifth
4birthday and who has a bona fide retirement under this chapter
5is in regular full-time employment during a calendar year,
6the member’s retirement allowance shall be reduced by fifty
7cents for each dollar the member earns over the limit provided
8in this subsection. However, employment is not full-time
9employment until the member receives remuneration in an amount
10in excess of thirty fifty thousand dollars for a calendar year,
11or an amount equal to the amount of remuneration permitted
12for a calendar year for persons under sixty-five years of
13age before a reduction in federal social security retirement
14benefits is required, whichever is higher. Effective the first
15of the month in which a member attains the age of sixty-five
16years, a retired member may receive a retirement allowance
17without a reduction after return to covered employment
18regardless of the amount of remuneration received.
19 Sec. 2. Section 279.7A, subsection 2, Code 2022, is amended
20to read as follows:
212. This section does not apply to contracts for the
22purchase of goods or services which benefit a director, or
23to compensation for part-time or temporary employment which
24benefits a director, if the benefit to the director does not
25exceed six twenty thousand dollars in a fiscal year, and
26contracts made by a school board, upon competitive bid in
27writing, publicly invited and opened.
28 Sec. 3. EFFECTIVE DATE. This Act, being deemed of immediate
29importance, takes effect upon enactment.
30EXPLANATION
31The inclusion of this explanation does not constitute agreement with
32the explanation’s substance by the members of the general assembly.
33This bill modifies the earnings limitation for retirees
34under the Iowa public employees’ retirement system (IPERS) and
35the limitation on compensation and benefits for a member of a
-1-1school board.
2Code section 97B.48A provides that a retiree under IPERS who
3has not reached age 65 shall have their retirement allowance
4reduced by 50 cents for every dollar the retiree earns over
5$30,000 in full-time employment covered by IPERS. The bill
6raises this earnings limitation provision to $50,000.
7Code section 279.7A, concerning limitations on contracts
8that benefit a member of the board of directors of a school
9corporation, is amended to allow a contract if the benefit from
10the contract to the director does not exceed $20,000 instead
11of $6,000.
12The bill takes effect upon enactment.
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2the earnings limitation for retirees under the Iowa public
3employees’ retirement system and compensation limits for
4school corporation board members, and including effective
5date provisions.
6BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 97B.48A, subsection 1, paragraph a, Code
22022, is amended to read as follows:
3a. If a member who has not reached the member’s sixty-fifth
4birthday and who has a bona fide retirement under this chapter
5is in regular full-time employment during a calendar year,
6the member’s retirement allowance shall be reduced by fifty
7cents for each dollar the member earns over the limit provided
8in this subsection. However, employment is not full-time
9employment until the member receives remuneration in an amount
10in excess of thirty fifty thousand dollars for a calendar year,
11or an amount equal to the amount of remuneration permitted
12for a calendar year for persons under sixty-five years of
13age before a reduction in federal social security retirement
14benefits is required, whichever is higher. Effective the first
15of the month in which a member attains the age of sixty-five
16years, a retired member may receive a retirement allowance
17without a reduction after return to covered employment
18regardless of the amount of remuneration received.
19 Sec. 2. Section 279.7A, subsection 2, Code 2022, is amended
20to read as follows:
212. This section does not apply to contracts for the
22purchase of goods or services which benefit a director, or
23to compensation for part-time or temporary employment which
24benefits a director, if the benefit to the director does not
25exceed six twenty thousand dollars in a fiscal year, and
26contracts made by a school board, upon competitive bid in
27writing, publicly invited and opened.
28 Sec. 3. EFFECTIVE DATE. This Act, being deemed of immediate
29importance, takes effect upon enactment.
30EXPLANATION
31The inclusion of this explanation does not constitute agreement with
32the explanation’s substance by the members of the general assembly.
33This bill modifies the earnings limitation for retirees
34under the Iowa public employees’ retirement system (IPERS) and
35the limitation on compensation and benefits for a member of a
-1-1school board.
2Code section 97B.48A provides that a retiree under IPERS who
3has not reached age 65 shall have their retirement allowance
4reduced by 50 cents for every dollar the retiree earns over
5$30,000 in full-time employment covered by IPERS. The bill
6raises this earnings limitation provision to $50,000.
7Code section 279.7A, concerning limitations on contracts
8that benefit a member of the board of directors of a school
9corporation, is amended to allow a contract if the benefit from
10the contract to the director does not exceed $20,000 instead
11of $6,000.
12The bill takes effect upon enactment.
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