Iowa Code 97B.45 – Normal retirement date
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A member‘s normal retirement date is any of the following, whichever is applicable to the member:
1. The first of the month in which a member attains the age of sixty-five years if the member has not completed twenty years of membership service.
Terms Used In Iowa Code 97B.45
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Member: means an employee or a former employee who maintains the employee's or former employee's accumulated contributions in the retirement system. See Iowa Code 97B.1A
- Membership service: means service rendered by a member after July 4, 1953. See Iowa Code 97B.1A
- month: means a calendar month, and the word "year" and the abbreviation "A. See Iowa Code 4.1
- Prior service: means any service by an employee rendered at any time prior to July 4, 1953. See Iowa Code 97B.1A
- Retirement: means that period of time beginning when a member who has filed an approved application for a retirement allowance has survived into at least the first day of the member's first month of entitlement and ending when the member dies. See Iowa Code 97B.1A
- Service: means service under this chapter by an employee, except an elected official, for which the employee is paid covered wages. See Iowa Code 97B.1A
2. The first of the month in which the member attains the age of sixty-two years if the member has completed twenty years of membership service.
3. The first of any month in which the member has completed twenty years of membership service if the member has attained the age of sixty-two years but is not yet sixty-five years of age.
4. The first of any month in which the member is at least fifty-five years of age and for which the sum of the number of years of membership service and prior service and the member’s age in years as of the member’s last birthday equals or exceeds eighty-eight.