Supreme Court of Iowa December 23, 1998, 97-603 (Board of Trustees of the Municipal Fire & Police Retirement Systems of Iowa v. City of West Des Moines)

CADY, Justice.

The City of West Des Moines challenged the authority of the Board of Trustees of the state retirement system for police officers and fire fighters to charge interest on unpaid transition liability under Iowa Code section 411.38 (1995) in excess of the general statutory rate of five percent per annum.