Bill Text: IA SF2266 | 2021-2022 | 89th General Assembly | Enrolled
Bill Title: A bill for an act concerning compensation and benefits limits, relating to the earnings limitation for retirees under the Iowa public employees' retirement system and compensation limits for school corporation board members, and including effective date provisions. (Formerly SF 2166.) Effective date: 03/23/2022.
Spectrum: Committee Bill
Status: (Passed) 2022-06-22 - Fiscal note. [SF2266 Detail]
Download: Iowa-2021-SF2266-Enrolled.html
Senate
File
2266
-
Enrolled
Senate
File
2266
AN
ACT
CONCERNING
COMPENSATION
AND
BENEFITS
LIMITS,
RELATING
TO
THE
EARNINGS
LIMITATION
FOR
RETIREES
UNDER
THE
IOWA
PUBLIC
EMPLOYEES’
RETIREMENT
SYSTEM
AND
COMPENSATION
LIMITS
FOR
SCHOOL
CORPORATION
BOARD
MEMBERS,
AND
INCLUDING
EFFECTIVE
DATE
PROVISIONS.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
97B.48A,
subsection
1,
paragraph
a,
Code
2022,
is
amended
to
read
as
follows:
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.
Senate
File
2266,
p.
2
Sec.
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.
Sec.
3.
EFFECTIVE
DATE.
This
Act,
being
deemed
of
immediate
importance,
takes
effect
upon
enactment.
______________________________
JAKE
CHAPMAN
President
of
the
Senate
______________________________
PAT
GRASSLEY
Speaker
of
the
House
I
hereby
certify
that
this
bill
originated
in
the
Senate
and
is
known
as
Senate
File
2266,
Eighty-ninth
General
Assembly.
______________________________
W.
CHARLES
SMITHSON
Secretary
of
the
Senate
Approved
_______________,
2022
______________________________
KIM
REYNOLDS
Governor
