What changed in SF 2266

a. If a member who has not reached the member’s sixty-fifth birthday and who has a bona fide retirement under this chapter is in regular full-time employment during a calendar year, the member’s retirement allowance shall be reduced by fifty cents for each dollar the member earns over the limit provided in this subsection. However, employment is not full-time employment until the member receives remuneration in an amount in excess of thirty fifty thousand dollars for a calendar year, or an amount equal to the amount of remuneration permitted for a calendar year for persons under sixty-five years of age before a reduction in federal social security retirement benefits is required, whichever is higher. Effective the first of the month in which a member attains the age of sixty-five years, a retired member may receive a retirement allowance without a reduction after return to covered employment regardless of the amount of remuneration received.

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2. Section 279.7A, subsection 2, Code 2022, is amended to read as follows:

2. This section does not apply to contracts for the purchase of goods or services which benefit a director, or to compensation for part-time or temporary employment which benefits a director, if the benefit to the director does not exceed six twenty thousand dollars in a fiscal year, and contracts made by a school board, upon competitive bid in writing, publicly invited and opened.

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