Legislators' Guide to IPERS Important Information for IPERS' Plan Sponsors

Governance and Administration

Legislature and Governor

As Plan sponsors, the Legislature and Governor control IPERS. They establish by statute:

• Contribution rates that regular members and their employers pay.
• Member benefits.
• The public employers and employees that participate in IPERS.

They also oversee the administration of the Plan.

The Legislature and Governor must approve any changes to IPERS’ statutes proposed by an IPERS board, administration, or constituency group. The Legislature and Governor also authorize spending from the IPERS Trust Fund for administrative expenses that are not related to investments. They set a cap on the percentage that may be used for investment-related expenses. The Legislature’s Administrative Rules Review Committee reviews all administrative rules that are adopted by IPERS to carry out the law.

The Public Retirement Systems Committee, a 10-member, permanent committee of senators and representatives, meets between sessions of the Legislature, typically in the fall. The committee is charged with reviewing policy issues for all of Iowa’s public retirement systems, including IPERS.

Legislature and Governor Plan sponsors	Public Retirement Systems Committee Reviews public retirement system policy

IPERS Boards

The IPERS Investment Board and the Benefits Advisory Committee oversee IPERS. The Investment Board is designated the Fund’s trustee. The Board sets investment policy and oversees the actuarial program. There are 7 voting members—the Treasurer of State, who is the IPERS Fund custodian, and 6 gubernatorial appointments confirmed by the Senate. Legislative leadership appoints the 4 nonvoting legislative members.

The Legislature established the Benefits Advisory Committee to advise IPERS and the General Assembly on benefits and services. The Committee selects its own members from constituent groups representing employers and members specified by statute. A public member also serves on the Committee.

Investment Board Fund trustee	Benefits Advisory Committee Advises on IPERS benefits	State Treasurer Fund custodian

IPERS Administration

IPERS is an independent agency within the Executive Branch of Iowa government. Chief Executive Officer Donna M. Mueller and her staff administer the IPERS Plan established by the Legislature and Governor.

IPERS’ Administration Carries out the law, collects contributions, invests assets, pays benefits