Bill Text: IA SF220 | 2013-2014 | 85th General Assembly | Enrolled
Bill Title: A bill for an act relating to funding for retirement incentive programs offered by school districts and including effective date and retroactive applicability provisions. (Formerly SF 66.) Effective 4-3-14.
Spectrum: Committee Bill
Status: (Passed) 2014-04-03 - Signed by Governor. S.J. 719. [SF220 Detail]
Download: Iowa-2013-SF220-Enrolled.html
Senate
File
220
AN
ACT
RELATING
TO
FUNDING
FOR
RETIREMENT
INCENTIVE
PROGRAMS
OFFERED
BY
SCHOOL
DISTRICTS
AND
INCLUDING
EFFECTIVE
DATE
AND
RETROACTIVE
APPLICABILITY
PROVISIONS.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
279.46,
Code
2014,
is
amended
to
read
as
follows:
279.46
Retirement
incentives
——
tax.
The
board
of
directors
of
a
school
district
may
adopt
a
program
for
payment
of
a
monetary
bonus,
continuation
of
health
or
medical
insurance
coverage,
or
other
incentives
for
encouraging
its
employees
to
retire
before
the
normal
retirement
date
as
defined
in
chapter
97B
.
The
program
is
available
only
to
employees
who
notify
the
board
of
directors
prior
to
April
1
of
the
fiscal
year
that
they
intend
to
retire
not
later
than
the
start
of
the
next
following
school
calendar.
The
age
at
which
employees
shall
be
designated
eligible
for
the
program
shall
be
at
the
discretion
of
the
board.
An
employee
retiring
under
this
section
may
apply
for
a
retirement
allowance
under
chapter
97B
or
chapter
294
.
The
board
may
include
in
the
district
management
levy
an
amount
to
pay
the
total
estimated
accumulated
cost
to
the
school
district
of
the
health
or
medical
insurance
coverage,
bonus,
or
other
incentives
for
employees
within
the
age
range
of
fifty-five
to
sixty-five
years
of
age
or
older
who
retire
under
this
section
.
Sec.
2.
EFFECTIVE
UPON
ENACTMENT.
This
Act,
being
deemed
of
immediate
importance,
takes
effect
upon
enactment.
Sec.
3.
RETROACTIVE
APPLICABILITY.
This
Act
applies
Senate
File
220,
p.
2
retroactively
to
retirement
incentive
programs
in
existence
on
or
after
July
1,
2013.
______________________________
PAM
JOCHUM
President
of
the
Senate
______________________________
KRAIG
PAULSEN
Speaker
of
the
House
I
hereby
certify
that
this
bill
originated
in
the
Senate
and
is
known
as
Senate
File
220,
Eighty-fifth
General
Assembly.
______________________________
MICHAEL
E.
MARSHALL
Secretary
of
the
Senate
Approved
_______________,
2014
______________________________
TERRY
E.
BRANSTAD
Governor
