House File 2345 amends various sections of the Iowa Code related to the Employees Retirement System and the Municipal Fire and Police Retirement System. Notably, it introduces a new provision allowing the system to release the legal name and city of the last known address of a member or beneficiary to the treasurer of state to assist in locating them. Additionally, the bill modifies the requirements for providing members with statements of accumulated credit, changing the reporting period from the end of the calendar year to the prior four quarters.

Furthermore, the bill updates the process for monthly retirement allowance payments, mandating that these payments be directly deposited without charge to the retired member's account via electronic funds transfer. It also allows retired members the option to receive payments via a reloadable payment card without an administrative fee or as paper warrants, for which an administrative fee may apply unless waived for good cause. The bill is deemed of immediate importance and takes effect upon enactment.

Statutes affected:
Introduced: 97B.17, 97B.18, 97B.48
Reprinted: 97B.17, 97B.18, 97B.48, 411.5
Enrolled: 97B.17, 97B.18, 97B.48, 411.5