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Senate File 2266 - EnrolledAn Actconcerning compensation and benefits limits, relating to
the earnings limitation for retirees under the Iowa public
employees’ retirement system and compensation limits for
school corporation board members, and including effective
date provisions.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
Section 1. Section 97B.48A, subsection 1, paragraph a, Code
2022, is amended to read as follows:
a. If a member who has not reached the member’s sixty-fifth
birthday and who has a bona fide retirement under this chapter
is in regular full-time employment during a calendar year,
the member’s retirement allowance shall be reduced by fifty
cents for each dollar the member earns over the limit provided
in this subsection. However, employment is not full-time
employment until the member receives remuneration in an amount
in excess of thirty fifty thousand dollars for a calendar year,
or an amount equal to the amount of remuneration permitted
for a calendar year for persons under sixty-five years of
age before a reduction in federal social security retirement
benefits is required, whichever is higher. Effective the first
of the month in which a member attains the age of sixty-five
years, a retired member may receive a retirement allowance
without a reduction after return to covered employment
regardless of the amount of remuneration received.
Sec. 2. Section 279.7A, subsection 2, Code 2022, is amended
to read as follows:
2. This section does not apply to contracts for the
purchase of goods or services which benefit a director, or
to compensation for part-time or temporary employment which
benefits a director, if the benefit to the director does not
exceed six twenty thousand dollars in a fiscal year, and
contracts made by a school board, upon competitive bid in
writing, publicly invited and opened.
Sec. 3. EFFECTIVE DATE. This Act, being deemed of immediate
importance, takes effect upon enactment.
______________________________
JAKE CHAPMANPresident of the Senate______________________________
PAT GRASSLEYSpeaker of the House I hereby certify that this bill originated in the Senate and is known as Senate File 2266, Eighty-ninth General Assembly.______________________________
W. CHARLES SMITHSONSecretary of the SenateApproved _______________, 2022______________________________
KIM REYNOLDSGovernorec/rn
the earnings limitation for retirees under the Iowa public
employees’ retirement system and compensation limits for
school corporation board members, and including effective
date provisions.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
Section 1. Section 97B.48A, subsection 1, paragraph a, Code
2022, is amended to read as follows:
a. If a member who has not reached the member’s sixty-fifth
birthday and who has a bona fide retirement under this chapter
is in regular full-time employment during a calendar year,
the member’s retirement allowance shall be reduced by fifty
cents for each dollar the member earns over the limit provided
in this subsection. However, employment is not full-time
employment until the member receives remuneration in an amount
in excess of thirty fifty thousand dollars for a calendar year,
or an amount equal to the amount of remuneration permitted
for a calendar year for persons under sixty-five years of
age before a reduction in federal social security retirement
benefits is required, whichever is higher. Effective the first
of the month in which a member attains the age of sixty-five
years, a retired member may receive a retirement allowance
without a reduction after return to covered employment
regardless of the amount of remuneration received.
Sec. 2. Section 279.7A, subsection 2, Code 2022, is amended
to read as follows:
2. This section does not apply to contracts for the
purchase of goods or services which benefit a director, or
to compensation for part-time or temporary employment which
benefits a director, if the benefit to the director does not
exceed six twenty thousand dollars in a fiscal year, and
contracts made by a school board, upon competitive bid in
writing, publicly invited and opened.
Sec. 3. EFFECTIVE DATE. This Act, being deemed of immediate
importance, takes effect upon enactment.
______________________________
JAKE CHAPMANPresident of the Senate______________________________
PAT GRASSLEYSpeaker of the House I hereby certify that this bill originated in the Senate and is known as Senate File 2266, Eighty-ninth General Assembly.______________________________
W. CHARLES SMITHSONSecretary of the SenateApproved _______________, 2022______________________________
KIM REYNOLDSGovernorec/rn