Public Retirement Oversight Committee Address Changes to IPERS
Des Moines, Iowa – The leaders of the Public Retirement System Oversight Committee indicated on Tuesday that there isn’t much interest among lawmakers in making significant changes to the Iowa Public Employees Retirement System (IPERS) during the upcoming 2026 legislative session. However, they acknowledged that a study regarding the system and potential modifications may be necessary.
This meeting followed several months of discussions and worries about possible changes to IPERS, largely spurred by proposals from the Iowa DOGE Task Force. Formed in February, this group of private sector leaders was created to explore ways to increase efficiency in Iowa and local governments, modeled after Elon Musk’s federal Department of Efficiency.
Among the recommendations in the task force’s final report to Gov. Kim Reynolds and lawmakers was a suggestion for state leaders to examine public employee benefits and, where applicable, offer employees choices in benefit plans.
This new proposal scales back an earlier suggestion from the DOGE Task Force that aimed to shift IPERS from a defined benefit plan to a defined contribution plan. This shift would mean both employees and employers contribute to a retirement plan, but it faced significant backlash from labor groups, who argued that it could undermine current members’ retirement security.
During the meeting, committee co-chair Sen. Tim Kraenbrink (R-Fort Dodge) pointed out that there are no specific changes being planned. “There is no written law waiting to be passed,” he noted, clarifying that the task force’s ideas stemmed from unelected individuals.
Nonetheless, Kraenbrink stated that lawmakers are willing to entertain proposed changes to IPERS that might enhance the system. He mentioned, “There are some good things, I think, that could be explored. I want to look into that.”
He also conveyed to the media that Republican lawmakers have “no appetite” for immediate, major changes to IPERS. However, he recognized that if employees push for adjustments, lawmakers would reconsider. He cited a recent inclusion of a cost-of-living adjustment as a positive change.
Kraenbrink expressed interest in exploring the feasibility of a potential transition to a defined contribution model for future employees, stressing the importance of gathering more information on the implications of such proposals.
He questioned, “Why wouldn’t we want to study it? If it says we need to stick with what we have, fine. But if it indicates something better, we should know that too.”
He emphasized that research doesn’t automatically lead to drastic changes and noted that concerns about the future can sometimes hinder open-mindedness. “The goal is really to understand how we can make Iowa more competitive,” he remarked.
The DOGE report suggested that while IPERS would remain unchanged for current civil servants, future civil servants may have the option to switch to a defined contribution plan if they’re able. However, organizers warned that this could compromise IPERS’ long-term viability.
Tammy Gersen from the nonprofit group Indivisible Iowa expressed concerns about lawmakers who claim they won’t make changes based on the DOGE recommendations. “Plans can shift quickly,” she said, skeptical about the assurances provided.
During the meeting, some IPERS officials voiced their support for maintaining the system as is. Matt Carver, chair of the IPERS Benefits Advisory Committee, mentioned that their committee had unanimously approved a resolution encouraging IPERS to adhere to its current legal structure.
He remarked, “I think the DOGE committee was just looking for cost-saving ideas, but it’s alarming.” He also acknowledged the cooperation from lawmakers on this matter, suggesting that Congress is unlikely to act on changing IPERS, which has helped ease some concerns.
According to IPERS CEO Gregory Samorajski, the fund performed better than expected in 2025 and remains in a sound position for the following year. Rep. Adam Zabner, D-Iowa City, who is part of the committee, stated that the meeting underscored IPERS as one of the strongest retirement systems in the nation.
Zabner asserted that the proposed changes by the Governor’s DOGE Committee are both dangerous and unnecessary, stating they could jeopardize retirement security for countless Iowans. He called on his Republican colleagues to work towards preserving the integrity of IPERS.
