97B.43 PRIOR SERVICE CREDIT.
Each member in service on July 4, 1953, who made contributions
under the abolished system, and who has not applied for and qualified
for benefit payments under the abolished system, shall receive credit
for years of prior service in the determination of retirement
allowance payments under this chapter, if the member elects to become
a member on or before October 1, 1953, the member has not made
application for a refund of the part of the member's contributions
under the abolished system which are payable under sections 97.50 to
97.53, and the member gives written authorization prior to October 1,
1953, to the commission to credit to the retirement fund the amount
of the member's contribution which would be subject to a claim for
refund. The amount so credited shall, after transfer, be considered
as a contribution to the retirement system made as of July 4, 1953,
by the member and shall be included in the determination of the
amount of moneys payable under this chapter. However, an employee
who was under a contract of employment as a teacher in the public
schools of the state of Iowa at the end of the school year 1952-1953,
or any person covered by section 97B.1A, subsection 20, paragraph
"c" or "d", shall be considered as in service as of July 4,
1953, if they were members of the abolished system.
Any person with a record of thirty years as a public employee in
the state of Iowa prior to July 1, 1947, and who is not eligible for
prior service credit under other provisions of this section, is
entitled to a credit for years of prior service in the determination
of the retirement allowance payment under this chapter, provided the
public employee makes application to the system for credit for prior
public service, accompanied by verification of the person's claim as
the system may require. The person's allowance for prior service
credits shall be computed in the same manner as otherwise provided in
this section, but shall not exceed the sum of four hundred fifty
dollars nor be less than three hundred dollars per annum. Any such
person is entitled to receive retirement allowances computed as
provided by this chapter, effective from the date of application to
the system, provided such application is approved. However,
beginning July 1, 1975, the amount of such person's retirement
allowance payment received during June 1975, as computed under this
section shall be increased by two hundred percent and the allowance
for prior service credits shall not exceed one thousand three hundred
fifty dollars nor be less than nine hundred dollars per annum.
Effective July 1, 1987, there is appropriated for each fiscal year
from the Iowa public employees' retirement fund created in section
97B.7 to the system an amount sufficient to fund the retirement
allowance increases paid under this paragraph. Effective July 1,
1980, a person with a record of thirty years as a public employee in
the state of Iowa prior to July 1, 1947, receiving retirement
allowances under this chapter shall receive the monthly increase in
benefits provided in section 97B.49G, subsection 3, paragraph
"a".
Each individual who on or after July 1, 1978, was an active,
vested, or retired member and who (1) made application for and
received a refund of contributions made under the abolished system or
(2) has on deposit with the retirement fund contributions made under
the abolished system shall be entitled to credit for years of prior
service in the determination of retirement allowance payments by
filing a written election with the system on or after July 1, 1978,
and by redepositing any withdrawn contributions under the abolished
system together with interest as stated in this paragraph. Any
individual who on or after July 1, 1978, is a retired member and who
made application for and received a refund of contributions made
under the abolished system may, by filing a written election with the
system on or after July 1, 1978, have the system retain fifty percent
of the monthly increase in retiree benefits that will accrue to the
individual because of prior service. If the monthly increase in
retirement benefits is less than ten dollars, the system shall retain
five dollars of the scheduled increase, and if the monthly increase
is less than five dollars, the provisions of this paragraph shall not
apply. The system shall continue to retain such funds until the
withdrawn contributions, together with interest accrued to the month
in which the written election is filed, have been repaid. Due notice
of this provision shall be sent to all retired members on or after
July 1, 1978. However, this paragraph shall not apply to any person
who received a refund of any membership service contributions unless
the person repaid the membership service contributions pursuant to
section 97B.80C; but a refund of contributions remitted for the
calendar quarter ending September 30, 1953, which was based entirely
upon employment which terminated prior to July 4, 1953, shall not be
considered as a refund of membership service contributions. The
interest to be paid into the fund shall be compounded at the rates
credited to member accounts from the date of payment of the refund of
contributions under the abolished system to the date the member
redeposits the refunded amount. The provisions of the first
paragraph of this section relating to the consideration given to
credited amounts shall apply to the redeposited amounts or to amounts
left on deposit. Effective July 1, 1978, the provisions of this
paragraph shall apply to each individual who on or after July 1,
1978, was an active, vested, or retired member, but who was not in
service on July 4, 1953. The period for filing the written election
with the system and redepositing any withdrawn contributions together
with interest accrued shall commence July 1, 1978. A member who is a
retired member on or after July 1, 1978, may file written election
with the system on or after July 1, 1978, to have the system retain
fifty percent of the monthly increase as provided in this paragraph.
Effective July 1, 2004, a member eligible for an increased
retirement allowance because of the repayment of contributions under
this section is entitled to receipt of adjustment payments beginning
with the month in which payment was received by the system.
97B.43 PRIOR SERVICE CREDIT.
Each member in service on July 4, 1953, who made contributions
under the abolished system, and who has not applied for and qualified
for benefit payments under the abolished system, shall receive credit
for years of prior service in the determination of retirement
allowance payments under this chapter, if the member elects to become
a member on or before October 1, 1953, the member has not made
application for a refund of the part of the member's contributions
under the abolished system which are payable under sections 97.50 to
97.53, and the member gives written authorization prior to October 1,
1953, to the commission to credit to the retirement fund the amount
of the member's contribution which would be subject to a claim for
refund. The amount so credited shall, after transfer, be considered
as a contribution to the retirement system made as of July 4, 1953,
by the member and shall be included in the determination of the
amount of moneys payable under this chapter. However, an employee
who was under a contract of employment as a teacher in the public
schools of the state of Iowa at the end of the school year 1952-1953,
or any person covered by section 97B.1A, subsection 20, paragraph
"c" or "d", shall be considered as in service as of July 4,
1953, if they were members of the abolished system.
Any person with a record of thirty years as a public employee in
the state of Iowa prior to July 1, 1947, and who is not eligible for
prior service credit under other provisions of this section, is
entitled to a credit for years of prior service in the determination
of the retirement allowance payment under this chapter, provided the
public employee makes application to the system for credit for prior
public service, accompanied by verification of the person's claim as
the system may require. The person's allowance for prior service
credits shall be computed in the same manner as otherwise provided in
this section, but shall not exceed the sum of four hundred fifty
dollars nor be less than three hundred dollars per annum. Any such
person is entitled to receive retirement allowances computed as
provided by this chapter, effective from the date of application to
the system, provided such application is approved. However,
beginning July 1, 1975, the amount of such person's retirement
allowance payment received during June 1975, as computed under this
section shall be increased by two hundred percent and the allowance
for prior service credits shall not exceed one thousand three hundred
fifty dollars nor be less than nine hundred dollars per annum.
Effective July 1, 1987, there is appropriated for each fiscal year
from the Iowa public employees' retirement fund created in section
97B.7 to the system an amount sufficient to fund the retirement
allowance increases paid under this paragraph. Effective July 1,
1980, a person with a record of thirty years as a public employee in
the state of Iowa prior to July 1, 1947, receiving retirement
allowances under this chapter shall receive the monthly increase in
benefits provided in section 97B.49G, subsection 3, paragraph
"a".
Each individual who on or after July 1, 1978, was an active,
vested, or retired member and who (1) made application for and
received a refund of contributions made under the abolished system or
(2) has on deposit with the retirement fund contributions made under
the abolished system shall be entitled to credit for years of prior
service in the determination of retirement allowance payments by
filing a written election with the system on or after July 1, 1978,
and by redepositing any withdrawn contributions under the abolished
system together with interest as stated in this paragraph. Any
individual who on or after July 1, 1978, is a retired member and who
made application for and received a refund of contributions made
under the abolished system may, by filing a written election with the
system on or after July 1, 1978, have the system retain fifty percent
of the monthly increase in retiree benefits that will accrue to the
individual because of prior service. If the monthly increase in
retirement benefits is less than ten dollars, the system shall retain
five dollars of the scheduled increase, and if the monthly increase
is less than five dollars, the provisions of this paragraph shall not
apply. The system shall continue to retain such funds until the
withdrawn contributions, together with interest accrued to the month
in which the written election is filed, have been repaid. Due notice
of this provision shall be sent to all retired members on or after
July 1, 1978. However, this paragraph shall not apply to any person
who received a refund of any membership service contributions unless
the person repaid the membership service contributions pursuant to
section 97B.80C; but a refund of contributions remitted for the
calendar quarter ending September 30, 1953, which was based entirely
upon employment which terminated prior to July 4, 1953, shall not be
considered as a refund of membership service contributions. The
interest to be paid into the fund shall be compounded at the rates
credited to member accounts from the date of payment of the refund of
contributions under the abolished system to the date the member
redeposits the refunded amount. The provisions of the first
paragraph of this section relating to the consideration given to
credited amounts shall apply to the redeposited amounts or to amounts
left on deposit. Effective July 1, 1978, the provisions of this
paragraph shall apply to each individual who on or after July 1,
1978, was an active, vested, or retired member, but who was not in
service on July 4, 1953. The period for filing the written election
with the system and redepositing any withdrawn contributions together
with interest accrued shall commence July 1, 1978. A member who is a
retired member on or after July 1, 1978, may file written election
with the system on or after July 1, 1978, to have the system retain
fifty percent of the monthly increase as provided in this paragraph.
Effective July 1, 2004, a member eligible for an increased
retirement allowance because of the repayment of contributions under
this section is entitled to receipt of adjustment payments beginning
with the month in which payment was received by the system.
97B.43 PRIOR SERVICE CREDIT.
Each member in service on July 4, 1953, who made contributions
under the abolished system, and who has not applied for and qualified
for benefit payments under the abolished system, shall receive credit
for years of prior service in the determination of retirement
allowance payments under this chapter, if the member elects to become
a member on or before October 1, 1953, the member has not made
application for a refund of the part of the member's contributions
under the abolished system which are payable under sections 97.50 to
97.53, and the member gives written authorization prior to October 1,
1953, to the commission to credit to the retirement fund the amount
of the member's contribution which would be subject to a claim for
refund. The amount so credited shall, after transfer, be considered
as a contribution to the retirement system made as of July 4, 1953,
by the member and shall be included in the determination of the
amount of moneys payable under this chapter. However, an employee
who was under a contract of employment as a teacher in the public
schools of the state of Iowa at the end of the school year 1952-1953,
or any person covered by section 97B.1A, subsection 20, paragraph
"c" or "d", shall be considered as in service as of July 4,
1953, if they were members of the abolished system.
Any person with a record of thirty years as a public employee in
the state of Iowa prior to July 1, 1947, and who is not eligible for
prior service credit under other provisions of this section, is
entitled to a credit for years of prior service in the determination
of the retirement allowance payment under this chapter, provided the
public employee makes application to the system for credit for prior
public service, accompanied by verification of the person's claim as
the system may require. The person's allowance for prior service
credits shall be computed in the same manner as otherwise provided in
this section, but shall not exceed the sum of four hundred fifty
dollars nor be less than three hundred dollars per annum. Any such
person is entitled to receive retirement allowances computed as
provided by this chapter, effective from the date of application to
the system, provided such application is approved. However,
beginning July 1, 1975, the amount of such person's retirement
allowance payment received during June 1975, as computed under this
section shall be increased by two hundred percent and the allowance
for prior service credits shall not exceed one thousand three hundred
fifty dollars nor be less than nine hundred dollars per annum.
Effective July 1, 1987, there is appropriated for each fiscal year
from the Iowa public employees' retirement fund created in section
97B.7 to the system an amount sufficient to fund the retirement
allowance increases paid under this paragraph. Effective July 1,
1980, a person with a record of thirty years as a public employee in
the state of Iowa prior to July 1, 1947, receiving retirement
allowances under this chapter shall receive the monthly increase in
benefits provided in section 97B.49G, subsection 3, paragraph
"a".
Each individual who on or after July 1, 1978, was an active,
vested, or retired member and who (1) made application for and
received a refund of contributions made under the abolished system or
(2) has on deposit with the retirement fund contributions made under
the abolished system shall be entitled to credit for years of prior
service in the determination of retirement allowance payments by
filing a written election with the system on or after July 1, 1978,
and by redepositing any withdrawn contributions under the abolished
system together with interest as stated in this paragraph. Any
individual who on or after July 1, 1978, is a retired member and who
made application for and received a refund of contributions made
under the abolished system may, by filing a written election with the
system on or after July 1, 1978, have the system retain fifty percent
of the monthly increase in retiree benefits that will accrue to the
individual because of prior service. If the monthly increase in
retirement benefits is less than ten dollars, the system shall retain
five dollars of the scheduled increase, and if the monthly increase
is less than five dollars, the provisions of this paragraph shall not
apply. The system shall continue to retain such funds until the
withdrawn contributions, together with interest accrued to the month
in which the written election is filed, have been repaid. Due notice
of this provision shall be sent to all retired members on or after
July 1, 1978. However, this paragraph shall not apply to any person
who received a refund of any membership service contributions unless
the person repaid the membership service contributions pursuant to
section 97B.80C; but a refund of contributions remitted for the
calendar quarter ending September 30, 1953, which was based entirely
upon employment which terminated prior to July 4, 1953, shall not be
considered as a refund of membership service contributions. The
interest to be paid into the fund shall be compounded at the rates
credited to member accounts from the date of payment of the refund of
contributions under the abolished system to the date the member
redeposits the refunded amount. The provisions of the first
paragraph of this section relating to the consideration given to
credited amounts shall apply to the redeposited amounts or to amounts
left on deposit. Effective July 1, 1978, the provisions of this
paragraph shall apply to each individual who on or after July 1,
1978, was an active, vested, or retired member, but who was not in
service on July 4, 1953. The period for filing the written election
with the system and redepositing any withdrawn contributions together
with interest accrued shall commence July 1, 1978. A member who is a
retired member on or after July 1, 1978, may file written election
with the system on or after July 1, 1978, to have the system retain
fifty percent of the monthly increase as provided in this paragraph.
Effective July 1, 2004, a member eligible for an increased
retirement allowance because of the repayment of contributions under
this section is entitled to receipt of adjustment payments beginning
with the month in which payment was received by the system.
