Iowa Admin. Code r. 661-402.306

Current through Register Vol. 47, No. 11, December 11, 2024

Rule 661-402.306 - Other provisions

(1) Within 60 days following the entry of an adjustment to a member's years of service based on a purchase of permissive service credit, the secretary shall report the purchase to the system under which the service credit was originally earned.

NOTE: This notification is intended to meet the requirement that a member not receive a retirement benefit under more than one retirement plan for the same period of service.

(2) The average final compensation of the member shall not be affected by the purchase of permissive service credit.

Iowa Admin. Code r. 661-402.306

ARC 8935B, IAB 7/14/10, effective 7/1/10