Bill Text: IA HF89 | 2017-2018 | 87th General Assembly | Enrolled

Iowa House Bill 89 (Prior Session Legislation)

Bill Title: A bill for an act authorizing a retirement system merger relating to an alternative retirement system for certain school district employees. Effective 7-1-17.

Sponsorship: Partisan Bill (Republican 1)

Status: (Passed) 2017-05-11 - Signed by Governor. H.J. 1147. [HF89 Detail]

Download: Iowa-2017-HF89-Enrolled.html


House File 89 - Enrolled




                              HOUSE FILE       
                              BY  PETTENGILL
 \5
                                   A BILL FOR
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                                          House File 89

                             AN ACT
 AUTHORIZING A RETIREMENT SYSTEM MERGER RELATING TO AN
    ALTERNATIVE RETIREMENT SYSTEM FOR CERTAIN SCHOOL DISTRICT
    EMPLOYEES.

 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
    Section 1.  Section 97B.42C, Code 2017, is amended to read
 as follows:
    97B.42C  Retirement system merger == municipal utility
 retirement system.
    A municipal water utility or waterworks that has established
 a pension and annuity retirement system for its employees
 pursuant to chapter 412, or a school district that has
 established a pension and annuity retirement system for its
 employees pursuant to chapter 294, may adopt a resolution to
 authorize the merger of its pension and annuity retirement
 system with and into the Iowa public employees' retirement
 system. The system is authorized, but is not required, to
 accept such a proposal. The governing body of the municipal
 water utility or waterworks or school district and the Iowa
 public employees' retirement system shall, acting in their
 fiduciary capacities, mutually determine the terms and
 conditions of such a merger, including any additional funds
 necessary to fund the service credits being transferred to the
 Iowa public employees' retirement system, and either party
 may decline the merger if they cannot agree on such terms and
 conditions. The system shall adopt such rules as it deems
 necessary and prudent to effectuate mergers as provided by this
 section.


                                                                                            LINDA UPMEYER


                                                                                            JACK WHITVER


                                                                                            CARMINE BOAL


                                                                                            TERRY E. BRANSTA

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