Relating to retirement benefits of retired members reemployed as school resource officers under the Iowa public employees’ retirement system and the municipal fire and police retirement system

This bill relates to retirement benefits of a member of the Iowa public employees’ retirement system (IPERS) or the municipal fire and police retirement system who is reemployed by a law enforcement agency as a school resource officer. The bill provides that a retired member who is a certified law enforcement officer and is reemployed by a law enforcement agency as a school resource officer may elect out of IPERS coverage by filing an election with the system within 60 days of reemployment. This election is irrevocable. 48A provides that the retirement allowance of a retired member under IPERS who has not reached age 65 shall be reduced by 50 cents for every $1 the retiree earns over $50,000 in full-time employment covered by IPERS. The bill exempts a certified law enforcement officer who is reemployed by a law enforcement agency as a school resource officer from this reduction. Current law provides that a member has a bona fide retirement for purposes of IPERS when the member does not return to any employment with a covered employer until the member has qualified for at least one calendar month of retirement benefits and the member does not return to covered employment until the member has qualified for no fewer than four calendar months of retirement benefits. The bill provides that, for purposes of this provision, neither any employment with a covered employer nor covered employment includes employment of a certified law enforcement officer by a law enforcement agency as a school resource officer. Under current law, a member who ceases to be employed as a police officer or fire fighter by a city ceases to be a member of the municipal fire and police retirement system. A person who is reemployed is not eligible to receive a service retirement allowance for the period of reemployment. The bill provides that a retired member who is reemployed by a law enforcement agency as a school resource officer may continue to receive a service retirement allowance during the period of reemployment.