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Kim Reynolds OFFICE OF THE GOVERNOR. Chris Cournoyer
GOVERNOR LT GOVERNOR
June 02, 2026
The Honorable Paul Pate
Secretary of State of Iowa
State Capitol
Des Moines, Iowa 50319
Dear Mr. Secretary,
I hereby transmit:
House File 1023, an Act relating to benefits and contributions for members of the Iowa
pubhc employees' retirement system who are employed in a protection occupation.
The above House File is hereby approved on this date.
Sincerely,aincereiy,
KirnVfteynold s^-wKim^eynolds
Govemor of Iowa
cc: Secretary of the Senate
Clerk of the House
STATE CAPITOL DES MOINES, IOWA 50319 515.281.5211 WWW.GOVERNOR.IOWA.GOV
C EN ER AI. ASS EM BIA
House File 1023
AN ACT
RELATING TO BENEFITS AND CONTRIBUTIONS FOR MEMBERS OF THE IOWA
PUBLIC EMPLOYEES' RETIREMENT SYSTEM WHO ARE EMPLOYED IN A
PROTECTION OCCUPATION.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
Section 1, Section 97B.11, subsection 3, paragraph b,
subparagraphs (1) and (2), Code 2026, are amended to read as
follows:
(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. For the fiscal year beginning July 1, 2025,
and for each fiscal year thereafter, the system shall increase
the applicable employee percentage calculated under this
subparagraph for that fiscal year by one hundred twenty-five
thousandths of one percent.
(2) ^^Applicable employer percentage" means, for the fiscal
year beginning July 1, 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 1, 2026,
House File 1023r p. 2
and for each fiscal year thereafter, "^applicable employer
percentage'' means the percentage rate equal to fifty percent
of the required contribution rate for members described in
section 97B.49B. For the fiscal year beginning July 1, 2025,
and for each fiscal year thereafter, the system shall decrease
the applicable employer percentage calculated under this
subparagraph for that fiscal year by one hundred twenty-five
thousandths of one percent.
Sec. 2. Section 97B.49B, subsection 1, paragraph a,
subparagraph (6), Code 2026, is amended to read as follows:
(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, not to exceed a total of twelve additional percentage
points.
Sec. 3. Section 97B.49B, subsection 1, paragraph a. Code
2026, is amended by adding the following new subparagraph:
NEW SUBPARAGRAPH. (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.
Sec. 4. Section 97B.49B, Code 2026, is amended by adding the
following new subsection:
NEW SUBSECTION. 5. Annual adjustment of 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. On each July 1, the monthly retirement allowance
authorized in this section and payable to a member retired
prior to that date, and to a beneficiary or contingent
annuitant entitled to a monthly retirement allowance prior
to that date, shall be adjusted by adding to the monthly
retirement allowance payable on that date an amount equal to
House File 1023, p. 3
the sum of one and one-half percent of the monthly retirement
allowance payable on that date.
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
that receives an annual adjustment of allowance provided in
this subsection shall not be eligible for the retirement
dividends under section 97B.49F.
PAT GRASSLE:
Speaker of ^he House
AMY SII^AIR
President of the Senate
I hereby certify that this bill originated in the House and
is known as House File 1023, Ninety-first General Assembly.
MEGMN NELSON
Chief <yierk o^the House
Approved 4^ 2026
KIM REFOLDS
Governor