Anatomy of a Pension Merger. 1 ISD Pension + 1 State Pension = Merger.

Where: Iowa

Which pensions: Iowa state employee pension & the Des Moines Teacher Pension

Why? Currently teachers in the Des Moines teacher fund cannot transfer their service credit among state pension funds

Details about the 2 pensions:

• Iowa state pension fund is 83% funded
• Des Menoines teacher fund is 100% funded

What benefit to the ISD teacher fund? The 448 from the Des Moines Tacher Fund would be fully funded

The 3 approvals necessary:

• the legislature has to change laws to allow for the merger
• the 2 pension systems have to agree

The Des Moines Register | IPERS mulls $66 million pension merger with Des Moines teachers