What changed in HF 1023

7 passages reworded, 3 added and 20 removed; 7 of 37 unchanged.

Removed AddedIntroduced textText as passedAmendments

Compares wording only. The printed bills also mark changes to existing law with strikes and underlines, which aren’t shown here.

Section 1. Section 97B.11, subsection 3, unnumbered paragraph 1, Code 2025, is amended to read as follows: On and after From July 1, 2011, until June 30, 2025, for purposes of this section, unless the context otherwise requires:

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2. Section 97B.11, Code 2025, is amended by adding the following new subsection:

NEW SUBSECTION.

4. On and after July 1, 2025, for purposes of this section, unless the context otherwise requires:

a. For members in regular service:

(1) “Applicable employee percentage” means the percentage rate equal to forty percent of the required contribution rate for members in regular service.

(2) “Applicable employer percentage” means the percentage rate equal to sixty percent of the required contribution rate for members in regular service.

b. For members in special service in a protection occupation as described in section 97B.49B:

(1) “Applicable employee percentage” means the percentage rate equal to fifty percent of the required contribution rate for members described in section 97B.49B.

(2) “Applicable employer percentage” means the percentage rate equal to fifty percent of the required contribution rate for members described in section 97B.49B.

c. For members in special service as a county sheriff or deputy sheriff as described in section 97B.49C:

(1) “Applicable employee percentage” means the percentage rate equal to fifty percent of the required contribution rate for members described in section 97B.49C.

Section 1. Section 97B.11, subsection 3, paragraph b, subparagraphs (1) and (2), Code 2026, are amended to read as follows:

(2) “Applicable employer percentage” means the percentage rate equal to fifty percent of the required contribution rate for members described in section 97B.49C.

(1) “Applicable employee percentage” means, for the fiscal year beginning July 1, 2011, through the fiscal year beginning July 1, 2025, the percentage rate equal to forty percent of the required contribution rate for members described in section 97B.49B. For the fiscal year beginning July 1, 2026, and for each fiscal year thereafter, “applicable employee percentage” means the percentage rate equal to fifty percent of the required contribution rate for members described in section 97B.49B. For the fiscal year beginning July 1, 2025, and for each fiscal year thereafter, the system shall increase the applicable employee percentage calculated under this subparagraph for that fiscal year by one hundred twenty-five thousandths of one percent.

d. “Required contribution rate” means the same as defined in subsection 3.

(2) “Applicable employer percentage” means, for the fiscal year beginning July 1, 2011, through the fiscal year beginning July 1, 2025, the percentage rate equal to sixty percent of the required contribution rate for members described in section 97B.49B. For the fiscal year beginning July 1, 2026, and for each fiscal year thereafter, “applicable employer percentage” means the percentage rate equal to fifty percent of the required contribution rate for members described in section 97B.49B. For the fiscal year beginning July 1, 2025, and for each fiscal year thereafter, the system shall decrease the applicable employer percentage calculated under this subparagraph for that fiscal year by one hundred twenty-five thousandths of one percent.

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3. 2. Section 97B.49B, subsection 1, paragraph a, subparagraph (6), Code 2025, 2026, is amended to read as follows:

(6) For each active or inactive vested member retiring on or after July 1, 2003, and before July 1, 2025, 2026, sixty percent plus, if applicable, an additional three-eighths of one percentage point for each additional calendar quarter of eligible service beyond twenty-two years of service for the member, not to exceed a total of twelve additional percentage points.

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4. 3. Section 97B.49B, subsection 1, paragraph a, Code 2025, 2026, is amended by adding the following new subparagraph:

NEW SUBPARAGRAPH.

(7) For each active or inactive vested member retiring on or after July 1, 2025, 2026, sixty percent plus, if applicable, an additional five-eighths of one percentage point for each additional calendar quarter of eligible service beyond twenty-two years of service, not to exceed a total of twenty additional percentage points.

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5. Section 97B.49B, subsection 2, Code 2025, is amended to read as follows:

2. Calculation of monthly allowance.

a. Notwithstanding other provisions of this chapter, a member who is or has been employed in a protection occupation who retires on or after July 1, 1994, but before July 1, 2025, and at the time of retirement is at least fifty-five years of age may elect to receive, in lieu of the receipt of any benefits as calculated pursuant to section 97B.49A or 97B.49D, a monthly retirement allowance equal to one-twelfth of an amount equal to the applicable percentage of the three-year average covered wage as a member who has been employed in a protection occupation multiplied by a fraction of years of service, with benefits payable during the member’s lifetime.

b. Notwithstanding other provisions of this chapter, a member who is or has been employed in a protection occupation who retires on or after July 1, 2025, and at the time of retirement is at least fifty-five years of age, or is at least fifty years of age with at least twenty-two years of eligible service, may elect to receive, in lieu of the receipt of any benefits as calculated pursuant to section 97B.49A or 97B.49D, a monthly retirement allowance equal to one-twelfth of an amount equal to the applicable percentage of the three-year average covered wage as a member who has been employed in a protection occupation multiplied by a fraction of years of service, with benefits payable during the member’s lifetime.

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6. 4. Section 97B.49B, Code 2025, 2026, is amended by adding the following new subsection:

NEW SUBSECTION.

5. Annual adjustment of allowance. A member who retires from employment in a protection occupation on or after July 1, 2025, 2026, and who receives a monthly retirement allowance under this section, shall have the monthly retirement allowance adjusted as follows:

a. On each July 1, the monthly retirement allowance authorized in this section and payable to a member retired prior to that date, and to a beneficiary or contingent annuitant entitled to a monthly retirement allowance prior to that date, shall be adjusted by adding to the monthly retirement allowance payable on that date an amount equal to the sum of one and one-half percent of the monthly retirement allowance payable on that date.

b. A retired member, beneficiary, or contingent annuitant shall not be eligible for an annual readjustment of allowance provided in this subsection unless the member has twenty-two years of eligible service and attained the age of fifty fifty-five years prior to the member’s termination of employment.

c. A retired member, beneficiary, or contingent annuitant that receives an annual adjustment of allowance provided in this subsection shall not be eligible for the retirement dividends under section 97B.49F.