Iowa Code 97B.56 – Abolished system — liquidation fund
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 97B.56
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Retirement: means that period of time beginning when a member who has filed an approved application for a retirement allowance has survived into at least the first day of the member's first month of entitlement and ending when the member dies. See Iowa Code 97B.1A
The assets of the old-age and survivors’ liquidation fund, established by sections 97.50 through 97.53 and any future payments or assets payable to the old-age and survivors’ liquidation fund, are transferred to the retirement fund, and all payments due in accordance with the provisions of sections 97.50 through 97.53 shall be paid from the retirement fund.