Bills › 90th General Assembly
Relating to the judicial retirement fund
Sponsored by the House Appropriations (successor To Hsb 529) Committee
Where it is now
- Done: IntroducedFebruary 19, 2024
- Done: SubcommitteeApril 16, 2024
- Done: House committeeApril 17, 2024
- Stopped: Passes the HouseDied when the General Assembly ended
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2024 session adjourned on April 19, 2024, 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 Starting in the 2024-2025 fiscal year, this law changes how much money judges and the state must pay into the judicial retirement fund. Judges will contribute 9.35 percent of their basic salary, while the state will pay 30.6 percent of the total salaries of all judges. These new rates will apply even if the retirement fund is already fully funded.1
Read the official explanation
This bill modifies the contribution rates for the judicial retirement fund. The bill redefines the term “judge’s required contribution” to mean an amount equal to the basic salary of the judge multiplied by 9.35 percent beginning in FY 2024-2025, and the term “state’s required contribution” to mean an amount equal to the basic salary of all judges multiplied by 30.6 percent beginning in FY 2024-2025. The bill’s contribution rates apply regardless of whether the judicial retirement fund is fully funded. The bill amends the actuarial valuation procedure by the court administrator to strike associated provisions.
Iowa Code it changes
Lobbying
7 for · 0 against · 5 undecided · Who →
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90th General Assembly