DES MOINES, Iowa — Last year, the Iowa Legislature moved to changed the pension system for sheriffs and deputies, allowing more of their annual salary to be accessed through their pension.
That law change took into account how long the individual had been in the service, increasing the pension threshold to 80% of annual salary if the person had served for 30 years.
An Iowa House Ways & Means subcommittee advanced a bill unanimously that lowers the age police officers are able to retire at in the state to receive their pension, as long as they served for 22 years on the job.
The bill states that the employees will have to pay 10% more into Iowa public employees’ retirement system (IPERS), and the employer will pay 10% less of the required contribution rate. That percentage switch is what would allow for early retirement with full access to those benefits.
Advocates for the bill said at the subcommittee that this early retirement incentive will help with police department recruitment. The bill is still in the early stages as there is less than a month left of the scheduled 110 days of the 91st General Assembly.
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