Bill Text: IA SF2238 | 2011-2012 | 84th General Assembly | Introduced
Bill Title: A bill for an act concerning financing of the municipal fire and police retirement system and providing for an appropriation.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2012-02-22 - Subcommittee, Danielson, Kibbie, and Smith. S.J. 311. [SF2238 Detail]
Download: Iowa-2011-SF2238-Introduced.html
Senate
File
2238
-
Introduced
SENATE
FILE
2238
BY
SENG
A
BILL
FOR
An
Act
concerning
financing
of
the
municipal
fire
and
police
1
retirement
system
and
providing
for
an
appropriation.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
TLSB
5765SS
(4)
84
ec/sc
S.F.
2238
Section
1.
Section
411.8,
subsection
1,
paragraph
f,
Code
1
2011,
is
amended
by
adding
the
following
new
subparagraph:
2
NEW
SUBPARAGRAPH
.
(9)
Beginning
July
1,
2012,
and
each
3
fiscal
year
thereafter,
for
members
whose
membership
in
4
the
system
first
commenced
on
or
after
July
1,
2012,
an
5
amount
equal
to
the
member’s
contribution
rate
times
each
6
member’s
compensation
shall
be
paid
to
the
fund
from
the
7
earnable
compensation
of
the
member.
For
the
purposes
of
this
8
subparagraph,
the
member’s
contribution
rate
shall
be
ten
and
9
four-tenths
percent.
However,
the
system
shall
increase
the
10
member’s
contribution
rate
as
necessary
to
cover
any
increase
11
in
cost
to
the
system
resulting
from
statutory
changes
which
12
are
enacted
by
any
session
of
the
general
assembly
meeting
13
after
January
1,
1991,
if
the
increase
cannot
be
absorbed
14
within
the
contribution
rates
otherwise
established
pursuant
to
15
this
paragraph,
but
subject
to
a
maximum
employee
contribution
16
rate
of
eleven
and
thirty-five
hundredths
percent.
The
17
contribution
rate
increases
specified
in
1994
Iowa
Acts,
ch.
18
1183,
pursuant
to
this
chapter
and
chapter
97A
shall
be
the
19
only
member
contribution
rate
increases
for
these
systems
20
resulting
from
the
statutory
changes
enacted
in
1994
Iowa
21
Acts,
ch.
1183,
and
shall
apply
only
to
the
fiscal
periods
22
specified
in
1994
Iowa
Acts,
ch.
1183.
After
the
employee
23
contribution
reaches
eleven
and
thirty-five
hundredths
percent,
24
sixty
percent
of
the
additional
cost
of
such
statutory
changes
25
shall
be
paid
by
employers
under
paragraph
“c”
and
forty
percent
26
of
the
additional
cost
shall
be
paid
by
employees
under
this
27
paragraph.
28
Sec.
2.
NEW
SECTION
.
411.20
State
appropriation.
29
1.
There
is
appropriated
from
the
general
fund
of
the
30
state
for
each
fiscal
year
an
amount
to
be
distributed
to
the
31
statewide
fire
and
police
retirement
system
equal
to
three
32
and
nine-tenths
percent
of
the
earnable
compensation
of
all
33
members.
The
percentage
shall
be
the
normal
contribution
rate,
34
as
determined
by
section
411.8,
reduced
by
the
percentage
35
-1-
LSB
5765SS
(4)
84
ec/sc
1/
2
S.F.
2238
rate
payable
by
the
participating
cities.
The
method
of
1
distribution
shall
be
determined
by
the
board
of
trustees
2
based
on
information
provided
by
the
actuary
of
the
statewide
3
retirement
system.
4
2.
Moneys
appropriated
by
the
state
shall
not
be
used
5
to
reduce
the
normal
rate
of
contribution
of
any
city
below
6
seventeen
percent.
7
EXPLANATION
8
This
bill
concerns
the
financing
of
the
statewide
municipal
9
fire
and
police
retirement
system.
10
Code
section
411.8(1)(f),
concerning
the
contribution
rate
11
payable
by
members
of
the
system,
is
amended
to
provide
that
12
members
whose
membership
in
the
system
first
commenced
on
13
or
after
July
1,
2012,
shall
pay
10.4
percent
of
earnable
14
compensation
to
the
system.
All
other
members
of
the
system
15
shall
continue
to
pay
9.4
percent.
Current
law
that
provides
16
for
an
increase
in
the
employee
contribution
rate
under
certain
17
circumstances
remains
unchanged
and
is
made
applicable
to
the
18
members
paying
the
increased
10.4
percent
rate.
19
New
Code
section
411.20
provides
that
the
state
shall
pay
an
20
amount
equal
to
3.9
percent
of
the
earnable
compensation
of
all
21
members.
In
2010,
an
annual
state
contribution
to
the
system
22
was
repealed
and
replaced
with
a
set
state
appropriation
to
the
23
system
for
only
fiscal
years
2010-2011
and
2011-2012.
24
-2-
LSB
5765SS
(4)
84
ec/sc
2/
2
