Privatizing IPERS: An Analysis of Senate File 45: The bill directs each retirement system to submit a plan to create an alternative defined contribution plan to the public retirement systems committee by October 1, 2018. This is a bad bill – built on a bad idea. While Senate File 45 would get rid of all public defined benefit pensions, this year most discussion is around the IPERS pension system…
“IPERS and Iowa’s other public pension plans are secure, strong, and sustainable. Some current legislative proposals to change IPERS could break the promise we have made to hard working Iowans since 1953,” said Treasurer Michael Fitzgerald.
Every worker deserves a secure retirement. That includes the hundreds of thousands of Iowans who contribute part of each paycheck to one of our state’s public retirement systems. Iowa’s public retirement systems are well managed and fiscally sound. However, under Republicans, those funds could be at risk.