A bill for an act providing for membership in a protection occupation under the Iowa public employees' retirement system and including effective date and retroactive applicability provisions.(See HF 138.)
Impact
A crucial aspect of HSB38 is its provision for retroactive applicability. The bill allows for prior service time, dating back to July 1, 2017, for eligible members to be reclassified as protection occupation service without necessitating additional contributions to cover the actuarial costs associated with this reclassification. By doing so, it provides an opportunity for many individuals who may not have been classified under this designation previously to benefit from retirement provisions that offer greater security.
Summary
House Study Bill 38 (HSB38) proposes significant adjustments to the Iowa Public Employees Retirement System (IPERS) concerning the categorization of certain employment roles. Specifically, the bill extends eligibility for classification as a protection occupation service position to individuals serving as peace officers or firefighters, not limited solely to those working for cities covered under particular chapters. This broadened definition aims to enhance the recognition and benefits accorded to those in protective occupations, acknowledging their critical roles in public service.
Contention
While HSB38 has garnered support for its intent to acknowledge the contributions of peace officers and firefighters, it also raises important considerations regarding the fiscal implications for the IPERS system. Some discussions around the bill might delve into concerns over how the retroactive provisions could impact the financial stability of the retirement system, potentially leading to increased contributions or adjustments in funding strategies in the future. Moreover, the discussions may reflect differing views on the adequacy of this classification in addressing the challenges faced by those in protective services.
Notable_points
Overall, HSB38 appears to represent a legislative effort to align the benefits provided to public servants with the realities of their service. By effectively expanding the protection occupation category under IPERS, the bill addresses not only the immediate needs of individuals in these roles but also endeavors to enhance the overall integrity and attractiveness of careers in public safety.
Replaced by
A bill for an act providing for membership in a protection occupation under the Iowa public employees' retirement system and including effective date and retroactive applicability provisions.
IA HF138
Replaced by
A bill for an act providing for membership in a protection occupation under the Iowa public employees' retirement system and including effective date and retroactive applicability provisions. (Formerly HSB 38.) Effective date: 04/28/2023. Applicability date: 07/01/2017.
A bill for an act providing for membership in a protection occupation under the Iowa public employees' retirement system and including effective date and retroactive applicability provisions.
A bill for an act providing for membership in a protection occupation under the Iowa public employees' retirement system and including effective date and retroactive applicability provisions. (Formerly HSB 38.) Effective date: 04/28/2023. Applicability date: 07/01/2017.
A bill for an act providing for membership in a protection occupation under the Iowa public employees' retirement system and including effective date provisions.
A bill for an act providing for membership in a protection occupation under the Iowa public employees' retirement system and including effective date provisions.
A bill for an act relating to public safety personnel retirement systems, the taxation of surviving spouse pension benefits, and including retroactive applicability provisions.(See HF 2680.)
A bill for an act relating to public safety personnel retirement systems, the taxation of surviving spouse pension benefits, and including retroactive applicability provisions. (Formerly HSB 745.) Effective date: 07/01/2024. Applicability date: 01/01/2024.
A bill for an act relating to benefits for members of the Iowa public employees' retirement system who are employed in a protection occupation.(See HF 967, HF 1023.)
A bill for an act relating to the endow Iowa tax credit, making appropriations, and including retroactive applicability and effective date provisions. (Formerly HF 673, HSB 122.) Effective date: 06/01/2023. Applicability date: 01/01/2023.
A bill for an act relating to benefits and contributions for members of the Iowa public employees' retirement system who are employed in a protection occupation.(Formerly HSB 265; See HF 1023.)