Bill Text: IA SF366 | 2015-2016 | 86th General Assembly | Amended

Iowa Senate Bill 366 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: A bill for an act relating to the reexamination and recalculation of disability retirement benefits for beneficiaries under the public safety peace officers' retirement, accident, and disability system. (Formerly SSB 1213.) Effective 7-1-15.

Sponsorship: Committee Bill

Status: (Passed) 2015-05-15 - Signed by Governor. S.J. 1037. [SF366 Detail]

Download: Iowa-2015-SF366-Amended.html

Senate File 366 - Reprinted




                                 SENATE FILE       
                                 BY  COMMITTEE ON STATE
                                     GOVERNMENT

                                 (SUCCESSOR TO SSB
                                     1213)
       (As Amended and Passed by the Senate March 19, 2015)

                                      A BILL FOR

  1 An Act relating to the reexamination, recalculation, and offset
  2    of disability retirement benefits for beneficiaries under
  3    the public safety peace officers' retirement, accident, and
  4    disability system.
  5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
    SF 366 (3) 86
    ec/sc/jh

PAG LIN



  1  1    Section 1.  Section 97A.6, subsection 7, paragraph a,
  1  2 subparagraph (1), Code 2015, is amended to read as follows:
  1  3    (1)  Should any beneficiary for either ordinary or
  1  4 accidental disability, except a beneficiary who is fifty=five
  1  5 years of age or over and would have completed twenty=two years
  1  6 of service if the beneficiary had remained in active service,
  1  7 be engaged in a gainful occupation paying more than the
  1  8 difference between the member's net retirement allowance and
  1  9 one two and one=half times the current earnable compensation
  1 10 of an active member at the same position on the salary scale
  1 11 within the member's rank as the member held at retirement, then
  1 12 the amount of the retirement allowance shall be reduced to an
  1 13 amount such that the member's net retirement allowance plus the
  1 14 amount earned by the member shall equal one two and one=half
  1 15 times the amount of the current earnable compensation of an
  1 16 active member at the same position on the salary scale within
  1 17 the member's rank as the member held at retirement. Should
  1 18 the member's earning capacity be later changed, the amount of
  1 19 the retirement allowance may be further modified, provided
  1 20 that the new retirement allowance shall not exceed the amount
  1 21 of the retirement allowance originally granted adjusted by
  1 22 annual readjustments of pensions pursuant to subsection 14 of
  1 23 this section nor an amount which would cause the member's net
  1 24 retirement allowance, when added to the amount earned by the
  1 25 beneficiary, to equal one two and one=half times the amount
  1 26 of the current earnable compensation of an active member at
  1 27 the same position on the salary scale within the member's rank
  1 28 as the member held at retirement. A beneficiary restored
  1 29 to active service at a salary less than the average final
  1 30 compensation upon the basis of which the member was retired at
  1 31 age fifty=five or greater, shall not again become a member of
  1 32 the retirement system and shall have the member's retirement
  1 33 allowance suspended while in active service. If the rank or
  1 34 position held by the retired member is subsequently abolished,
  1 35 adjustments to the allowable limit on the amount of income
  2  1 which can be earned in a gainful occupation shall be computed
  2  2 in the same manner as provided in subsection 14, paragraph "c",
  2  3 of this section for readjustment of pensions when a rank or
  2  4 position has been abolished. If the salary scale associated
  2  5 with a member's rank at retirement is changed after the member
  2  6 retires, earnable compensation for purposes of this section
  2  7 shall be based upon the salary an active member currently
  2  8 would receive at the same rank and with seniority equal to
  2  9 that of the retired member at the time of retirement. For
  2 10 purposes of this paragraph, "net retirement allowance" means
  2 11 the amount determined by subtracting the amount paid during the
  2 12 previous calendar year by the beneficiary for health insurance
  2 13 or similar health care coverage for the beneficiary and the
  2 14 beneficiary's dependents from the amount of the member's
  2 15 retirement allowance paid for that year pursuant to this
  2 16 chapter. The beneficiary shall submit sufficient documentation
  2 17 to the board of trustees to permit the system to determine the
  2 18 member's net retirement allowance for the applicable year.
  2 19    Sec. 2.  Section 97A.6, subsection 11, Code 2015, is amended
  2 20 by striking the subsection.
       SF 366 (3) 86
       ec/sc/jh