§ 2-3.5-4-4.1 — Monthly retirement benefit; conditions

Indiana § 2-3.5-4-4.1

• Jurisdiction: Indiana
• Art. 3.5: LEGISLATIVE RETIREMENT BENEFITS
• Ch. 4: Legislators' Defined Benefit Plan

Text

1. (a) This section applies to a participant who:
(1) is at least fifty-five (55) years of age and whose years of
service as a member of the general assembly plus years of age are
equal to at least eighty-five (85); or
(2) is at least sixty (60) years of age and has at least fifteen (15)
years of service as a member of the general assembly.
(b) A participant who is described in subsection (a) is entitled, for
the remainder of the participant's life, to a monthly retirement benefit
calculated under section 3 of this chapter, if all of the following
conditions are met on the date on which the benefit begins:
(1) The participant's service as a member of the general assembly
is terminated.
(2) The participant has at least ten (10) years of service as a
member of the general assembly.
(3) The participant is not receiving and is not entitled to receive
a salary from the state.
(c) A participant who receives a benefit under this section is not
entitled to a benefit under section 4 of this chapter.

Legislative History

As added by P.L.10-1995, SEC.1. Amended by P.L.13-2001, SEC.3.