Iowa HF2069 provides an annual cost-of-living adjustment for members of the Iowa public employees' retirement system.

Iowa HF2069 amends the Iowa Code to establish an annual cost-of-living adjustment (COLA) for members of the Iowa public employees' retirement system. This adjustment applies to monthly retirement allowances for members who retire on or after July 1, 2026, and to beneficiaries and contingent annuitants. The COLA is set at 1 percent of the monthly retirement allowance, payable each July 1. To be eligible for the COLA, a member must have attained the age of 55 prior to retirement. Additionally, those receiving the COLA are not eligible for retirement dividends under section 97B.49F.

Iowa HF2069 provides an annual cost-of-living adjustment for members of the Iowa public employees' retirement system.

Iowa HF2069 amends the Iowa Code to establish an annual cost-of-living adjustment (COLA) for members of the Iowa public employees' retirement system. This adjustment applies to monthly retirement allowances for members who retire on or after July 1, 2026, and to beneficiaries and contingent annuitants. The COLA is set at 1 percent of the monthly retirement allowance, payable each July 1. To be eligible for the COLA, a member must have attained the age of 55 prior to retirement. Additionally, those receiving the COLA are not eligible for retirement dividends under section 97B.49F.