Bill Text: IA SF2126 | 2013-2014 | 85th General Assembly | Introduced
Bill Title: A bill for an act providing for the development of a mandatory defined contribution pension plan for certain public employees.
Spectrum: Partisan Bill (Republican 11-0)
Status: (Introduced - Dead) 2014-02-17 - Subcommittee, Danielson, Courtney, and Feenstra. S.J. 272. [SF2126 Detail]
Download: Iowa-2013-SF2126-Introduced.html
Senate
File
2126
-
Introduced
SENATE
FILE
2126
BY
ZAUN
,
FEENSTRA
,
SINCLAIR
,
BEHN
,
CHELGREN
,
CHAPMAN
,
ROZENBOOM
,
BREITBACH
,
GUTH
,
SEGEBART
,
and
ERNST
A
BILL
FOR
An
Act
providing
for
the
development
of
a
mandatory
defined
1
contribution
pension
plan
for
certain
public
employees.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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2126
Section
1.
Section
97A.3,
subsection
1,
Code
2014,
is
1
amended
to
read
as
follows:
2
1.
All
peace
officer
members
of
the
division
of
state
3
patrol
and
the
division
of
criminal
investigation
or
the
4
predecessor
divisions
or
subunits
in
the
department
of
public
5
safety,
excepting
the
members
of
the
clerical
force,
who
6
are
employed
by
the
state
of
Iowa
on
July
4,
1949,
and
all
7
persons
thereafter
employed
as
members
of
such
divisions
or
the
8
predecessor
divisions
or
subunits
in
the
department
of
public
9
safety
or
division
of
narcotics
enforcement
or
division
of
10
state
fire
marshal
or
the
predecessor
divisions
or
subunits,
11
except
the
members
of
the
clerical
force,
shall
be
members
of
12
this
system,
except
as
otherwise
provided
in
this
subsection
13
or
subsection
3
.
Effective
July
1,
1994,
gaming
enforcement
14
officers
employed
by
the
division
of
criminal
investigation
15
for
excursion
boat
and
gambling
structure
gambling
enforcement
16
activities
and
fire
prevention
inspector
peace
officers
17
employed
by
the
department
of
public
safety
shall
be
members
of
18
this
system,
except
as
otherwise
provided
in
this
subsection
19
or
subsection
3
or
section
97B.42B
.
Such
members
shall
not
20
be
required
to
make
contributions
under
any
other
pension
21
or
retirement
system
of
the
state
of
Iowa,
anything
to
the
22
contrary
notwithstanding.
However,
peace
officer
members
of
23
the
division
of
state
patrol
and
the
division
of
criminal
24
investigation
or
the
predecessor
divisions
or
subunits
25
in
the
department
of
public
safety,
persons
employed
as
26
members
of
such
divisions
or
the
predecessor
divisions
or
27
subunits
in
the
department
of
public
safety
or
division
of
28
narcotics
enforcement
or
division
of
state
fire
marshal
or
the
29
predecessor
divisions
or
subunits,
gaming
enforcement
officers,
30
and
fire
prevention
inspector
peace
officers
newly
hired
on
or
31
after
July
1,
2016,
shall
not
be
eligible
to
participate
in
the
32
retirement
system
under
this
chapter.
33
Sec.
2.
Section
97B.1A,
subsection
8,
paragraph
b,
Code
34
2014,
is
amended
by
adding
the
following
new
subparagraph:
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NEW
SUBPARAGRAPH
.
(10)
Employees
who
are
employed
as
1
defined
in
this
chapter
for
whom
coverage
under
this
chapter
2
would
otherwise
be
mandatory
or
optional
but
who
are
newly
3
hired
on
or
after
July
1,
2016.
4
Sec.
3.
Section
411.2,
subsection
1,
Code
2014,
is
amended
5
to
read
as
follows:
6
1.
Except
as
provided
in
subsections
2
through
5
6
,
7
each
city
in
which
the
fire
fighters
or
police
officers
are
8
appointed
under
the
civil
service
law
of
this
state,
shall
9
participate
in
the
retirement
system
established
by
this
10
chapter
for
the
purpose
of
providing
retirement
allowances
only
11
for
fire
fighters
or
police
officers,
or
both,
of
the
cities
12
who
are
so
appointed
after
the
date
the
city
comes
under
the
13
retirement
system,
or
benefits
to
their
dependents.
14
Sec.
4.
Section
411.2,
Code
2014,
is
amended
by
adding
the
15
following
new
subsection:
16
NEW
SUBSECTION
.
6.
A
police
officer
or
fire
fighter
hired
17
on
or
after
July
1,
2016,
by
a
city
with
a
population
of
more
18
than
eight
thousand
prior
to
the
results
of
the
federal
census
19
conducted
in
1990
shall
not
be
eligible
to
participate
in
the
20
retirement
system
under
this
chapter.
21
Sec.
5.
Section
602.1611,
subsection
1,
unnumbered
22
paragraph
1,
Code
2014,
is
amended
to
read
as
follows:
23
Judges
of
the
supreme
court
and
court
of
appeals,
district
24
judges,
and
district
associate
judges
are
members
of
the
25
judicial
retirement
system
established
in
article
9
,
part
1,
26
and
are
not
members
of
the
public
employees’
retirement
system
27
established
in
chapter
97B
,
except
as
provided
in
paragraphs
28
“a”
,
and
“b”
,
and
“c”
.
29
Sec.
6.
Section
602.1611,
subsection
1,
Code
2014,
is
30
amended
by
adding
the
following
new
paragraph:
31
NEW
PARAGRAPH
.
c.
Judges
of
the
supreme
court
and
court
32
of
appeals,
district
judges,
and
district
associate
judges
33
appointed
on
or
after
July
1,
2016,
shall
not
become
members
34
of
the
judicial
retirement
system
established
in
article
9,
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part
1,
but
shall
instead
become
eligible
to
participate
in
1
an
alternative
defined
contribution
retirement
system
as
2
established
by
the
state
court
administrator.
3
Sec.
7.
ALTERNATIVE
DEFINED
CONTRIBUTION
PEACE
OFFICERS’
4
RETIREMENT
SYSTEM
STUDY
——
REPORT.
5
1.
The
board
of
trustees
of
the
Iowa
department
of
public
6
safety
peace
officers’
retirement,
accident,
and
disability
7
system
established
by
chapter
97A
shall
conduct
a
study
for
the
8
development
of
an
alternative
defined
contribution
retirement
9
system
for
peace
officers
hired
on
or
after
July
1,
2016,
who
10
are
ineligible
to
participate
in
the
Iowa
department
of
public
11
safety
peace
officers’
retirement,
accident,
and
disability
12
system
established
in
chapter
97A,
as
provided
in
this
Act.
13
The
board
shall
conduct
a
study
and
submit
a
report,
including
14
its
findings
and
recommendations,
to
the
public
retirement
15
systems
committee
established
in
section
97D.4,
by
October
1,
16
2015.
17
2.
The
goal
of
the
study
shall
be
the
selection
of
an
18
alternative
defined
contribution
retirement
plan
that
provides
19
adequate
retirement
benefits
while
reducing
and
stabilizing
the
20
cost
to
taxpayers
of
providing
retirement
benefits.
21
3.
In
making
its
recommendation,
the
board
shall
consider
22
methods
of
providing
medical,
disability,
and
line
of
duty
23
death
benefits
to
affected
peace
officers.
The
board
shall
24
also
consider
whether
the
affected
peace
officers
can
be
25
enrolled
in
the
federal
social
security
system.
26
Sec.
8.
ALTERNATIVE
DEFINED
CONTRIBUTION
IOWA
PUBLIC
27
EMPLOYEES’
RETIREMENT
SYSTEM
STUDY
——
REPORT.
28
1.
The
Iowa
public
employees’
retirement
system
shall
29
conduct
a
study
for
the
development
of
an
alternative
defined
30
contribution
retirement
system
for
employees
who
would
31
otherwise
be
members
of
the
system
but
who
are
hired
on
or
32
after
July
1,
2016,
and
are
ineligible
to
participate
in
33
the
Iowa
public
employees’
retirement
system
established
34
in
chapter
97B,
as
provided
in
this
Act.
The
system
shall
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conduct
a
study
and
submit
a
report,
including
its
findings
and
1
recommendations,
to
the
public
retirement
systems
committee
2
established
in
section
97D.4,
by
October
1,
2015.
3
2.
The
goal
of
the
study
shall
be
the
selection
of
an
4
alternative
defined
contribution
retirement
plan
that
provides
5
adequate
retirement
benefits
while
reducing
and
stabilizing
the
6
cost
to
taxpayers
of
providing
retirement
benefits.
7
3.
In
making
its
recommendation,
the
system
shall
consider
8
methods
of
providing
medical,
disability,
and
line
of
duty
9
death
benefits
to
employees
who
would
otherwise
be
members
in
10
special
service
under
the
system
but
are
ineligible
as
provided
11
in
this
Act.
12
Sec.
9.
ALTERNATIVE
FIRE
AND
POLICE
RETIREMENT
SYSTEM
STUDY
13
——
REPORT.
14
1.
The
board
of
trustees
of
the
statewide
fire
and
police
15
retirement
system
established
by
chapter
411
shall
conduct
a
16
study
for
the
development
of
an
alternative
fire
and
police
17
retirement
system
for
police
officers
and
fire
fighters
hired
18
on
or
after
July
1,
2016,
who
are
ineligible
to
participate
in
19
the
statewide
fire
and
police
retirement
system
as
provided
in
20
this
Act.
The
board
shall
conduct
a
study
and
submit
a
report,
21
including
its
findings
and
recommendations,
to
the
public
22
retirement
systems
committee
established
in
section
97D.4,
by
23
October
1,
2015.
24
2.
The
goal
of
the
study
shall
be
the
selection
of
an
25
alternative
defined
contribution
retirement
plan
that
provides
26
adequate
retirement
benefits
while
reducing
and
stabilizing
the
27
cost
to
taxpayers
of
providing
retirement
benefits.
28
3.
In
making
its
recommendation,
the
board
shall
consider
29
methods
of
providing
medical,
disability,
and
line
of
duty
30
death
benefits
to
affected
police
officers
and
fire
fighters.
31
The
board
shall
also
consider
whether
the
affected
peace
32
officers
and
fire
fighters
can
be
enrolled
in
the
federal
33
social
security
system.
34
Sec.
10.
ALTERNATIVE
DEFINED
CONTRIBUTION
JUDICIAL
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RETIREMENT
SYSTEM
STUDY
——
REPORT.
1
1.
The
state
court
administrator
shall
conduct
a
study
2
for
the
development
of
an
alternative
defined
contribution
3
judicial
retirement
system
for
judges
appointed
on
or
after
4
July
1,
2016,
who
are
ineligible
to
participate
in
the
judicial
5
retirement
system,
as
provided
in
this
Act.
The
state
court
6
administrator
shall
conduct
a
study
and
submit
a
report,
7
including
its
findings
and
recommendations,
to
the
public
8
retirement
systems
committee
established
in
section
97D.4,
by
9
October
1,
2015.
10
2.
The
goal
of
the
study
shall
be
the
selection
of
an
11
alternative
defined
contribution
retirement
plan
that
provides
12
adequate
retirement
benefits
to
judges
while
reducing
and
13
stabilizing
the
cost
to
taxpayers
of
providing
retirement
14
benefits.
15
EXPLANATION
16
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
17
the
explanation’s
substance
by
the
members
of
the
general
assembly.
18
This
bill
provides
that
employees
newly
hired
on
or
after
19
July
1,
2016,
who
would
otherwise
be
members
of
the
public
20
safety
peace
officers’
retirement,
accident,
and
disability
21
system
established
by
Code
chapter
97A,
the
Iowa
public
22
employees’
retirement
system
established
by
Code
chapter
97B,
23
the
statewide
fire
and
police
retirement
system
established
by
24
Code
chapter
411,
or
the
judicial
retirement
system
established
25
by
Code
chapter
602,
shall
not
become
members
of
the
applicable
26
retirement
system.
Instead,
the
bill
directs
each
retirement
27
system
to
develop
an
alternative
defined
contribution
plan
for
28
these
employees
newly
hired
on
or
after
July
1,
2016.
The
bill
29
provides
that
each
retirement
system
shall
submit
the
plan
to
30
create
an
alternative
defined
contribution
plan
to
the
public
31
retirement
systems
committee
established
in
Code
section
97D.4
32
by
October
1,
2015.
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