Governor Reynolds recently signed HF1023, enhancing benefits for IPERS Protection Occupations members beginning July 1, 2026.
Bill provisions
While IPERS will update its website and other materials on July 1 to reflect these enhancements, provisions of the bill include the following:
- Employers and members will split contributions to IPERS based on both paying 50% of the required rate. Contribution rate information is available on the contribution rates page.
- Protection Occupations Members who retire on or after July 1, 2026 are eligible for a 1.5% annual compounding cost-of-living adjustment. Retirees who are eligible for the COLA must:
- Be at least 55 years of age before they end their employment,
- Have at least 22 years of eligible service, and
- Retire as a member of either the Protection Occupations or Sheriffs/Deputy Sheriffs groups.
- The multiplier used to calculate retirement benefits will increase to a maximum of 80% with 30 years of service.
Benefit estimate requests
Until IPERS' pension administration system software is updated, IPERS will continue to determine retirement benefit payments and estimates based on the current formula. IPERS will update benefit payment amounts retroactively as soon as possible. We currently cannot provide estimates or payments based on the new formula.
IPERS' actuaries will consider the cost of the legislation in their next valuation. Those contribution rates will be announced this fall.