Bills › 89th General Assembly
Providing for membership in a protection occupation under the Iowa public employees’ retirement system and including effective date and retroactive applicability provisions
Sponsored by the House State Government Committee
Topics:State budgetState governmentPublic safety & emergencies
Where it is now
- Done: IntroducedFebruary 1, 2022
- Done: SubcommitteeFebruary 1, 2022
- Done: House committeeFebruary 9, 2022
- Done: Passes the HouseFebruary 23, 202297–0
- Done: Senate committeeMarch 10, 2022
- Stopped: Passes the SenateDied when the General Assembly ended
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2022 session adjourned on May 24, 2022, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
AI summary Police officers and firefighters who work for employers other than cities will now be included in a special retirement category under the Iowa public employees’ retirement system. If their employer confirms their job type, their past years of work will also count toward this protected category without requiring extra payments. This change applies to service members starting from July 1, 2017.1
Read the official explanation
This bill provides that persons employed as a peace officer or fire fighter by a covered employer, and not just a city, under the Iowa public employees’ retirement system (IPERS) are included within the protection occupation category of IPERS. The bill provides that membership service prior to the effective date of the bill shall be reclassified as protection occupation service without payment of any additional contributions to pay the actuarial costs of the reclassified service if the employer certifies the employment as constituting protection occupation service under the bill. The bill takes effect upon enactment and applies to membership service under IPERS on or after July 1, 2017.
Senate subcommittee
Named February 24, 2022. On March 1, 2022 it recommended passage.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Fiscal note
Minimal Compare with other bills
AI summary This bill changes the definition of IPERS Protection Occupation members to include firefighters and police officers employed by entities other than cities, such as the State Fair police. The fiscal impact is anticipated to be minimal, and any costs will be absorbed within the IPERS Trust Fund.3
Read the fiscal note
Requester: Representative Brent Siegrist
Description
House File 2374 broadens the definition of an Iowa Public Employees’ Retirement System (IPERS) member eligible for the Protection Occupation membership group to include fire fighters and police officers employed by a covered employer, which includes the State Fair police. The Bill prohibits IPERS from collecting any additional contributions to pay the actuarial cost of the membership reclassification. The Bill takes effect upon enactment and is retroactive to July 1, 2017.
Background
Under current law, only members who are employed by a city are eligible for membership in the Protection Occupation membership group. The Iowa State Fair police are members of IPERS Regular membership group. The Iowa State Fair Authority has reported wages to IPERS for 29 police officers since 2017.
For FY 2022 and for FY 2023, the annual contribution rate for Regular Membership is 15.73%, of which 9.44% is paid by the employer and 6.29% is paid by the employee. The FY 2022 and FY 2023 annual contribution rate is 15.52%, of which 9.31% is paid by the employer and 6.21% is paid by the employee. As of June 30, 2021, the IPERS Trust Fund had a balance of $42.850 billion. The aggregate funded ratio was 88.34%.
Assumptions
- Fire fighters and police officers who are currently employed by an employer other than a city will be reclassified from the Regular membership group to the Protection Occupation membership group, retroactive to July 1, 2017.
- Protection Occupation members and Regular members pay a similar annual rate contribution. The difference in contributions between July 1, 2017, and December 31, 2021, is approximately $15,000.
Fiscal Impact
The fiscal impact is anticipated to be minimal, and any costs will be absorbed within the IPERS Trust Fund.
Source
- Iowa Public Employees’ Retirement System (IPERS)
- IPERS, Protection Occupations · February 16, 2022
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