Iowa HF1023 modifies retirement benefits and contributions for Iowa public employees in protection occupations.

Iowa HF1023 amends the Iowa public employees' retirement system (IPERS) for members employed in protection occupations. It increases the contribution rate for these members from 40 percent to 50 percent of the required contribution rate. The bill also adjusts the calculation of monthly retirement benefits for members retiring on or after July 1, 2025, by increasing the applicable percentage for each additional quarter of service beyond 22 years, up to a maximum of 20 additional percentage points.

Iowa HF1023 modifies retirement benefits and contributions for Iowa public employees in protection occupations.

Iowa HF1023 amends the Iowa public employees' retirement system (IPERS) for members employed in protection occupations. It increases the contribution rate for these members from 40 percent to 50 percent of the required contribution rate. The bill also adjusts the calculation of monthly retirement benefits for members retiring on or after July 1, 2025, by increasing the applicable percentage for each additional quarter of service beyond 22 years, up to a maximum of 20 additional percentage points.