HF 1023 — 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.

KimReynoldsHouse OFFICEFile O1023 F- TEnrolled HHouse EFile G1023 OAN VACT ERELATING RTO NBENEFITS OAND RCONTRIBUTIONS .FOR MEMBERS OF THE IOWA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM WHO ARE EMPLOYED IN A PROTECTION OCCUPATION.

ChrisCournoyerBE GIT OENACTED VBY ETHE RGENERAL NASSEMBLY OOF RTHE LTSTATE GOF OIOWA: V E R N O R June02,2026 The Honorable Paul Pate SecretaryofStateofIowa StateCapitol Des Moines,Iowa 50319 DearMr.Secretary, Iherebytransmit:

HouseFile1023,anActrelatingtobenefitsandcontributionsformembersoftheIowaSection pubhcemployees'retirementsystemwho1. areemployedinaprotectionoccupation.

TheSection aboveHouseFileisherebyapprovedonthisdate.97B.11, subsection 3, paragraph b, subparagraphs (1) and (2), Code 2026, are amended to read as follows:

ainceriy,(1) K“Applicable m^eynoldsemployee ^-wpercentage” Govemormeans, ofIowafor cc:the fiscal year beginning July 1, 2011, through the fiscal year beginning July 1, 2025, the percentage rate equal to forty percent of the required contribution rate for members described in section 97B.49B.

SecretaryoftheSenateFor Clerkthe offiscal theyear Housebeginning STATEJuly CAPITOL1, DES2026, MOINES,Iand Ofor Weach Afiscal 50319year 515.281.52WWW.GOVERNOR.IOWA.GOVthereafter, C“applicable Eemployee Npercentage” Emeans Rthe Apercentage Irate .equal to fifty percent of the required contribution rate for members described in section 97B.49B.

A S S E M B I A H o u s e F i l e 1 0 2 3 A NA C T R E L A T I NB E N E F I T C O N T R I B U T I M E M B E R S O F T H E I O W A PUBLIC EMPLOYEES' RETIREMENT SYSTEM WHO ARE EMPLOYED IN A P R O T E C O C C U P A T I O N .

B EI T E N A C B Y T H G E N E RA S S E MO FT H ES T A O FI O W A :

Section 1, Section 97B.11, subsection 3, paragraph b, subparagraphs ( 1 ) and (2), Code 2026, are amended to read as f o l l o w s :

(1) ^Applicable employee percentage'' means, for the fiscal year beginning July 1 , 2011, through the fiscal year beginning July 1, 2025, the percentage rate equal to forty percent of the required contribution rate for members described in section 97B,49B.

For the fiscal year beginning July 1 , 2026, and for each fiscal year thereafter, ^^applicable employee percentage" means the percentage rate equal to fifty percent of the required contribution rate for members described in section 97B.49B.

(2) ^^Applicable“Applicable employer percentage"percentage” means, for the fiscal year beginning July 11, , 2011, through the fiscal year beginning July 1, 2025, the percentage rate equal to sixty percent of the required contribution rate for members described in section 97B.49B.

For the fiscal year beginning July 11, , 2026, House File 1023r1023, p.

2 and for each fiscal year thereafter, "^applicable“applicable employer percentage''meanspercentage” means the percentage rate equal to fifty percent of the required contribution rate for members described in section 97B.49B.

(6) For each active or inactive vested member retiring on or after July 1, 2003, and before July 1, 2026, sixty percent plus, if applicable, an additional three-eighths of one percentage point for each additional calendar quarter of eligible service beyond twenty-two years of service for the member,member , not to exceed a total of twelve additional percentage points.

Section 97B.49B, subsection 1, paragraph a.a, Code 2026, is amended by adding the following new subparagraph:

CodeNEW 2026,SUBPARAGRAPH is. amended by adding the following new subparagraph:

NEW(7) SUBPARAGRAPH.For each active or inactive vested member retiring on or after July 1, 2026, sixty percent plus, if applicable, an additional five-eighths of one percentage point for each additional calendar quarter of eligible service beyond twenty-two years of service, not to exceed a total of twenty additional percentage points.

( 7 )For each active or inactive vested member retiring on or after July 1, 2026, sixty percent plus, if applicable, an additional five-eighths of one percentage point for each additional calendar quarter of eligible service beyond twenty-two years of service, not to exceed a total of twenty additional percentage points.

NEW SUBSECTION.SUBSECTION .

Annual adjustment of allowance,allowance. A member who retires from employment in a protection occupation on or after July 1, 2026, and who receives a monthly retirement allowance under this section, shall have the monthly retirement allowance adjusted as follows:

A member who retires from employment in a protection occupation on or after July 1, 2026, and who receives a monthly retirement allowance under this section, shall have the monthly retirement allowance adjusted as follows:

b,b. A retired member, beneficiary, or contingent annuitant shall not be eligible for an annual readjustment of allowance provided in this subsection unless the member has twenty-two years of eligible service and attained the age of fifty-five years prior to the member's termination of employment.

c, A retired member, beneficiary, or contingent annuitant thatshall receivesnot be eligible for an annual adjustmentreadjustment of allowance provided in this subsection shallunless notthe bemember has twenty-two years of eligible forservice and attained the retirementage dividendsof underfifty-five sectionyears 97B.49F.prior to the member’s termination of employment.

Pc. A G R A S S L E :

AMYA SII^AIRretired Speakermember, of^hebeneficiary, Houseor Pcontingent rannuitant ethat sreceives ian dannual etadjustment hof eallowance Sprovided ein nthis asubsection tshall enot Ibe herebyeligible certifyfor that this bill originated in the Houseretirement anddividends isunder knownsection as97B.49F. House File 1023, Ninety-first General Assembly.

M______________________________ E______________________________ GPAT MNGRASSLEY EAMY LSINCLAIR SSpeaker Oof Nthe ChiefHouse <yierkPresident oof ^the tSenate hI ehereby Housecertify Approvedthat 2this 0bill 2originated 6in ^the KIMHouse REFOLDSand Gis oknown vas eHouse rFile n1023, oNinety-first rGeneral Assembly.

______________________________ MEGHAN NELSON Chief Clerk of the House Approved _______________, 2026 ______________________________ KIM REYNOLDS Governor