aimed at municipal workers. From Kirsten Running-Marquardt's newsletter:
New GOP Bill Puts IPERS, Retirement Security at Risk
House Republicans advanced a bill out of committee this week that could jeopardize the retirement security of thousands of Iowans and impose new restrictions on local governments.
House Study Bill 165 removes a local government’s ability to fund employee benefits and pensions from the Trust and Agency Fund. Instead, retirement payments would have to be funded out of other local government funding sources that would now be limited to a 2% annual increase. Requiring funding of these benefits would put this funding in competition with other city responsibilities, such as paying for police and fire fighters.
The bill also takes away decisions from local elected officials by placing arbitrary limits on local government spending. The bill prohibits a city or county government from increasing the budget by more than 2% annually. While it exempts taxes from new construction from the limit, there is no consideration in the bill for increasing values of property in a community. It also includes no considerations for new facilities or services a local government may provide other than requiring a special election.
The bill now goes to the full House for debate. It’s unclear if the Senate will consider this measure.
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