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BOS Chair: Early Retirement Possible Fix for IPERS

Posted: Wednesday, October 7th, 2009 at 8:41 am

An actuarial firm is recommending that Iowa increase employer and employee contributions to the state’s largest public employees pension fund. Washington County Board of Supervisors Chair Jim Miksch is concerned that would put a major strain on property tax revenue. Miksch feels a change in the rule that allows early retirees with enough years of service to receive full benefits needs to be looked at. Currently public employers and public employees contribute 10.95 percent of an employee’s wages to IPERS for its primary public pension program.