A bill for an act relating to benefits and contributions for members of the Iowa public employees’ retirement system who are employed in a protection occupation.

HF 967 modifies the Iowa Public Employees' Retirement System (IPERS) benefits and contributions for members employed in a protection occupation. Effective July 1, 2025, it increases the employee contribution share from 40% to 50% and decreases the employer share from 60% to 50% of the required contribution rate. For those retiring on or after July 1, 2025, the bill enhances the monthly retirement benefit calculation for service beyond 22 years and allows retirement at age 50 with 22 years of service. Additionally, it establishes an annual 1.5% cost-of-living adjustment (COLA) for eligible members, beneficiaries, and annuitants retiring from a protection occupation on or after July 1, 2025.