Iowa § 97B.49 - 97B.49 Dormant accounts.
Full text of Iowa Iowa Code § 97B.49 — 97B.49 Dormant accounts., with citation guidance and answers to common questions.
§ 97B.49. 97B.49 Dormant accounts.
1. In the event that all, or any portion, of a retirement allowance, death benefit, or other distribution payable to a member or a member’s designated beneficiary, heirs at law, or estate, remains unpaid solely by reason of the inability of the system to locate the appropriate payee, the amount payable shall not be forfeited but shall be treated as a dormant account after the time for making a claim has run. 2. A dormant account shall revert to the retirement fund created in section 97B.7. A dormant account shall be non-interest-bearing, and except for keeping a record of such account, the system shall not maintain the account. A member who has a dormant account and returns to covered employment shall have their dormant account reactivated as of the quarter they return to covered employment. If the appropriate payee contacts the system after the amount payable is treated as a dormant account, the appropriate payee may claim such amounts by filing a withdrawal application provided by the system. The system shall have rulemaking authority to adopt rules necessary to implement this section in a just and equitable manner. 3. The system shall ensure that the payment of a dormant account as provided in this section meets the requirements of section 401(a)(9) of the federal Internal Revenue Code. 2004 Acts, ch 1103, §30 Wed Dec 10 22:36:05 2025 Iowa Code 2026, Section 97B.49 (23, 0)
Source: official Iowa text · Last verified 2026-08-27
Frequently Asked Questions About Iowa § 97B.49
What does Iowa Code § 97B.49 cover?
Section 97B.49 ("97B.49 Dormant accounts.") is part of the Iowa Code, the codified statutory law of Iowa. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Iowa § 97B.49?
A common citation format is "Iowa Code § 97B.49" (Iowa). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Iowa law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Iowa official source linked on this page or consult a licensed Iowa attorney.
How does Iowa § 97B.49 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Iowa can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Iowa.