97D.2 - ANALYSIS OF COST OF PROPOSED CHANGES.
97D.2 ANALYSIS OF COST OF PROPOSED CHANGES.
When the public retirement systems committee established by
section 97D.4 or a standing committee of the senate or house of
representatives recommends a proposal for a change in a public
retirement system within this state, the committee shall require the
development of actuarial information concerning the costs of the
proposed change. If the proposal affects police and fire retirement
under chapter 411, the committee shall arrange for the services of an
actuarial consultant or request actuarial information from the
statewide fire and police retirement system created in chapter 411 to
assist in developing the information. Actuarial information
developed as provided under this section concerning the cost of a
proposed change shall include information on the effect of the
proposed change on the normal cost rate for that public retirement
system using the entry age normal actuarial cost method. Section History: Recent Form
90 Acts, ch 1240, §44; 2008 Acts, ch 1171, §61