411.5 - ADMINISTRATION.

        411.5  ADMINISTRATION.         1.  Board.  The general responsibility for the establishment      and proper operation of the retirement system is vested in the board      of trustees created by section 411.36.  The system shall be      administered under the direction of the board.         2.  Compensation.  The trustees, other than the secretary,      shall serve without compensation, but they shall be reimbursed from      the fire and police retirement fund for all necessary expenses which      they may incur through service on the board, as provided pursuant to      section 411.36.         3.  Rules.  Subject to the limitations of this chapter, the      board of trustees shall adopt rules for the establishment and      administration of the system and the fire and police retirement fund      created by this chapter, and for the transaction of its business.         4.  Organization -- employees.  The board of trustees shall      elect from its membership a chairperson, and shall, by majority vote      of its members, appoint a secretary who may, but need not, be one of      its members.  The system shall engage such actuarial and other      services as are required to transact the business of the retirement      system.  The compensation of all persons engaged by the system and      all other expenses of the board of trustees necessary for the      operation of the retirement system shall be paid at such rates and in      such amounts as the board of trustees approves.         5.  Data.  The system shall keep in convenient form such data      as is necessary for actuarial valuation of the fire and police      retirement fund and for checking the experience of the retirement      system.         6.  Records -- reports.         a.  The board of trustees shall keep a record of all its      proceedings, which record shall be open to public inspection.  It      shall submit an annual report to the governor, the general assembly,      and the city council of each participating city concerning the      financial condition of the retirement system, its current and future      liabilities, and the actuarial valuation of the system.  The board of      trustees shall submit a certified audit report prepared by a      certified public accountant to the auditor of state annually.  The      system shall comply with the filing fee requirement of section 11.6,      subsection 10.         b.  The system shall maintain records, including but not      limited to names, addresses, ages, and lengths of service, salaries      and wages, contributions, designated beneficiaries, benefit amounts,      if applicable, and other information pertaining to members as      necessary in the administration of this chapter, as well as the      names, addresses, and benefit amounts of beneficiaries.  For the      purpose of obtaining these facts, the system shall have access to the      records of the participating cities and the cities shall provide such      information upon request.  Member and beneficiary records containing      personal information are not public records for the purposes of      chapter 22.  However, summary information concerning the demographics      of the members and general statistical information concerning the      system is subject to chapter 22, as well as aggregate information by      category.         c.  Notwithstanding any provision of chapter 22 to the      contrary, the system's records may be released to any political      subdivision, instrumentality, or agency of the state solely for use      in a civil or criminal law enforcement activity pursuant to the      requirements of this paragraph.  To obtain the records, the political      subdivision, instrumentality, or agency of the state shall, in      writing, certify to the system that the activity is authorized by      law, provide a written description of the information desired, and      describe the law enforcement activity for which the information is      sought.  The system shall not be civilly or criminally liable for the      release of records in accordance with the requirements of this      paragraph.         d.  Records containing financial or commercial information      that relates to the investment of retirement system funds if the      disclosure of such information could result in a loss to the      retirement system or to the provider of the information are not      public records for the purposes of chapter 22.         7.  Legal advisor.  The system may employ or retain an      attorney to serve as the system's legal advisor and to represent the      system.  The costs of an attorney employed or retained by the system      shall be paid from the fire and police retirement fund created in      section 411.8.         8.  Medical board.  The board of trustees shall designate a      single medical provider network as the medical board for the system.      The medical board shall arrange for and pass upon all medical      examinations required under the provisions of chapter 400 and this      chapter and shall assist the system in all aspects of the      comprehensive disability program described in section 411.1A.  For      examinations required because of disability, a physician from the      medical board specializing in occupational medicine, and a second      physician specializing in an appropriate field of medicine as      determined by the occupational medicine physician, shall pass upon      the medical examinations required for disability retirements and      shall report to the system in writing their conclusions and      recommendations upon all matters referred to the medical board.  Each      report of a medical examination under section 411.6, subsections 3      and 5, shall include the medical board's findings in accordance with      section 411.6 as to the extent of the member's physical impairment.         9.  Duties of actuary.  The actuary shall be the technical      advisor of the system on matters regarding the operation of the fire      and police retirement fund and shall perform such other duties as are      required in connection with the operation of the system.         The actuary shall make such investigation of anticipated interest      earnings and of the mortality, service, and compensation experience      of the members of the system as the actuary recommends, and on the      basis of the investigation the system shall adopt such tables and      such rates as are required in subsection 11.         10.  Actuarial investigation -- tables -- rates.  At least      once in each five-year period, the actuary shall make an actuarial      investigation into the mortality, service, and compensation      experience of the members and beneficiaries of the retirement system,      and the interest and other earnings on the moneys and other assets of      the retirement system, and shall make a valuation of the assets and      liabilities of the fire and police retirement fund, and on the basis      of the results of the investigation and valuation, the system shall      adopt for the retirement system such actuarial methods and      assumptions, interest rate, and mortality and other tables as are      deemed necessary to conduct the annual actuarial valuation of the      system.         11.  Annual actuarial valuation.         a.  On the basis of the actuarial methods and assumptions,      rate of interest and tables adopted, the actuary shall make an annual      valuation of the assets and liabilities of the fire and police      retirement fund created by this chapter.  As a result of the annual      actuarial valuation, the system shall do all of the following:         (1)  Certify the rates of contribution payable by the cities in      accordance with section 411.8.         (2)  Certify the rates of contributions payable by the members in      accordance with section 411.8.         b.  Effective with the fiscal year beginning July 1, 2008, the      annual actuarial valuation required to be conducted shall include      information as required by section 97D.5.         12.  Requirements related to the Internal Revenue Code.         a.  As used in this subsection, unless the context otherwise      requires, "Internal Revenue Code" means the federal Internal      Revenue Code as defined in section 422.3.         b.  The fund established in section 411.8 shall be held in      trust for the benefit of the members of the system and the members'      beneficiaries.  No part of the corpus or income of the fund shall be      used for, or diverted to, purposes other than for the exclusive      benefit of the members or the members' beneficiaries or for expenses      incurred in the operation of the fund.  A person shall not have any      interest in, or right to, any part of the corpus or income of the      fund except as otherwise expressly provided.         c.  Notwithstanding any provision of this chapter to the      contrary, in the event of a complete discontinuance of contributions,      for reasons other than achieving fully funded status upon an      actuarially determined basis, or upon termination of the fund      established in section 411.8, a member shall be vested, to the extent      then funded, in the benefits which the member has accrued at the date      of the discontinuance or termination.         d.  Benefits payable from the fund established in section      411.8 to members and members' beneficiaries shall not be increased      due to forfeitures from other members.  Forfeitures shall be used as      soon as possible to reduce future contributions by the cities to the      fund, except that the rate shall not be less than the minimum rate      established in section 411.8.         e.  Notwithstanding any provision of this chapter to the      contrary, a member's service retirement allowance shall commence on      or before the later of the following:         (1)  April 1 of the calendar year following the calendar year in      which the member attains the age of seventy and one-half years.         (2)  April 1 of the calendar year following the calendar year in      which the member retires.         f.  The maximum annual benefit payable to a member by the      system shall be subject to the limitations set forth in section 415      of the federal Internal Revenue Code, and any regulations promulgated      pursuant to that section.         g.  The annual compensation of a member taken in account for      any purpose under this chapter shall not exceed the applicable amount      set forth in section 401(a)(17) of the federal Internal Revenue Code,      and any regulations promulgated pursuant to that section.         13.  Voluntary benefit programs.  The board of trustees shall      be responsible for the administration of the voluntary benefit      programs established under section 411.40.  The board may take any      necessary action, including the adoption of rules, for purposes of      administering the programs.         14.  Medical records.  A physician or surgeon, physician      assistant, advanced registered nurse practitioner, or mental health      professional who provides records to the system in connection with      the application by a member for disability retirement under this      chapter shall be entitled to charge a fee for production of the      records.  The fee for copies of any records shall not exceed the      reasonable cost of production.         15.  Closed sessions.  In addition to the reasons provided in      section 21.5, subsection 1, the board may hold a closed session      pursuant to the requirements of section 21.5 of that portion of a      board meeting in which financial or commercial information is      provided to or discussed by the board if the board determines that      disclosure of such information could result in a loss to the      retirement system or to the provider of the information.  
         Section History: Early Form
         [C35, § 6326-f5; C39, § 6326.07; C46, 50, 54, 58, 62, 66, 71,      73, 75, 77, 79, 81, § 411.5; 82 Acts, ch 1261, § 28, 29] 
         Section History: Recent Form
         83 Acts, ch 101, § 84; 86 Acts, ch 1203, § 1, 2; 90 Acts, ch 1240,      § 52; 92 Acts, ch 1201, § 63; 93 Acts, ch 44, § 16, 17; 94 Acts, ch      1183, §67, 68; 96 Acts, ch 1187, § 100; 2000 Acts, ch 1077, §93, 94,      111; 2001 Acts, ch 176, §17, 18; 2004 Acts, ch 1103, §64; 2006 Acts,      ch 1092, §11, 12; 2008 Acts, ch 1171, §50         Referred to in § 400.8, 400.8A, 411.1, 411.6A, 411.8, 411.22,      411.30         See mortality tables at end of Vol VI