§ 33-38-7-11 — Retirement annuities; termination of employment; requirements; computation of amount

(a) Benefits provided under this section are
subject to IC 33-38-6-13 and section 16 of this chapter.
(b) A participant whose employment as judge is terminated,
regardless of cause, is entitled to a retirement annuity beginning on the
date specified by the participant in a written application, if the
following conditions are met:
(1) The date the annuity begins is not:
(A) before the date of final termination of employment by the
participant; or
(B) the date thirty (30) days before the receipt of the
participant's written application by the board.
(2) The participant:
(A) is at least sixty-two (62) years of age and has at least eight
(8) years of service credit;
(B) is at least fifty-five (55) years of age and the participant's
age in years plus the participant's years of service is at least
eighty-five (85); or
(C) has become permanently disabled.
(3) The participant is not receiving a salary from the state for
services currently performed as:
(A) a judge (as defined in IC 33-38-6-7); or
(B) a magistrate under IC 33-23-5.
(c) A participant:
(1) who:
(A) elects to accept retirement after June 30, 1977; and
(B) is at least sixty-five (65) years of age; or
(2) who:
(A) elects to accept retirement after June 30, 1999;
(B) is at least fifty-five (55) years of age; and
(C) meets the requirements under subsection (b)(2)(B);
is entitled to an annual retirement benefit as calculated in subsection
(d).
(d) The annual retirement benefit for a participant who meets the
requirements of subsection (c) equals the product of:
(1) the salary being paid for the office that the participant held at
the time of the participant's separation from service; multiplied by
(2) the percentage prescribed in the following table:
If a participant has a partial year of service in addition to at least eight
(8) full years of service, an additional percentage shall be calculated by
prorating between the applicable percentages, based on the number of
months in the partial year of service. A participant who elects to accept
retirement before July 1, 1977, is entitled to an annual retirement
benefit that equals the average of the benefit computed under this
subsection and the benefit the participant would have received under
IC 33-38-6 as in effect on June 30, 1977.
(e) If the annual retirement benefit of a participant who began
service as a judge before July 1, 1977, as computed under subsection
(d), is less than the amount the participant would have received under
IC 33-38-6 as in effect on June 30, 1977, the participant is entitled to
receive the greater amount as the participant's annual retirement benefit
instead of the benefit computed under subsection (d).
(f) Except as provided in subsections (b)(2)(B) and (d), if a
participant who elects to accept retirement after June 30, 1977, has not
attained sixty-five (65) years of age, the participant is entitled to
receive a reduced annual retirement benefit that equals the benefit that
would be payable if the participant were sixty-five (65) years of age
reduced by one-tenth percent (0.1%) for each month that the
participant's age at retirement precedes the participant's sixty-fifth
birthday. This reduction does not apply to:
(1) participants who are separated from service because of
permanent disability;
(2) survivors of participants who die while in service after August
1, 1992; or
(3) survivors of participants who die while not in service but
while entitled to a future benefit.
(g) A participant who is permanently disabled is entitled to an
annual benefit equal to the product of:
(1) the salary being paid for the office that the participant held at
the time of separation from service; multiplied by
(2) the percentage prescribed in the following table:
If a participant has a partial year of service in addition to at least eight
(8) full years of service, an additional percentage shall be calculated by
prorating between the applicable percentages, based on the number of
months in the partial year of service.
(h) The surviving spouse or surviving child or children, as
designated by the participant, of a participant who has qualified before
July 1, 1977, to receive the retirement annuity under the provisions of
this chapter, either by length of service or by being permanently
disabled, shall, upon the death of such participant, be entitled to an
annuity in an amount equal to the greater of:
(1) the sum of:
(A) two thousand dollars ($2,000); plus
(B) fifty percent (50%) of the amount of retirement annuity the
participant was drawing at the time of the participant's death, or
to that which the participant would have been entitled had the
participant retired and begun receiving retirement annuity
benefits prior to the participant's death; or
(2) the amount determined under the following table:
(i) If a participant who qualifies after June 30, 1977, and before July
1, 1983, to receive a retirement annuity under the provisions of this
chapter, either by length of service or by being permanently disabled,
dies, the participant's surviving spouse or surviving child or children,
as designated by the participant, is or are entitled to an annuity in an
amount equal to the greater of:
(1) fifty percent (50%) of the amount of retirement annuity the
participant was drawing at the time of death, or to that which the
participant would have been entitled had the participant retired
and begun receiving retirement annuity benefits before death; or
(2) the amount determined under TABLE C in subsection (h)(2).
(j) If a participant:
(1) dies after June 30, 1983; and
(2) on the date of the participant's death:
(A) was receiving benefits under this chapter;
(B) had completed at least eight (8) years of service and was in
service as a judge;
(C) was permanently disabled; or
(D) had completed at least eight (8) years of service, was not
still in service as a judge, and was entitled to a future benefit;
the participant's surviving spouse or surviving child or children, as
designated by the participant, is or are entitled, regardless of the
participant's age, to an annuity in an amount equal to the greater of the
amount determined under TABLE C in subsection (h)(2) or fifty
percent (50%) of the amount of retirement annuity the participant was
drawing at the time of death, or to that which the participant would
have been entitled had the participant retired and begun receiving
retirement annuity benefits on the participant's date of death, with
reductions as necessary under subsection (f).
(k) Notwithstanding subsection (j), if a participant:
(1) died after June 30, 1983, and before July 1, 1985; and
(2) was serving as a judge at the time of death;
the surviving spouse is entitled to the same retirement annuity as the
surviving spouse of a permanently disabled participant entitled to
benefits under subsection (i).
(l) The annuity payable to a surviving child or children under
subsection (h), (i), or (j), is subject to the following:
(1) The total monthly benefit payable to a surviving child or
children is equal to the same monthly annuity that was to have
been payable to the surviving spouse.
(2) If there is more than one (1) child designated by the
participant, then the children are entitled to share the annuity in
equal monthly amounts.
(3) Each child entitled to an annuity shall receive that child's
share until the child becomes eighteen (18) years of age or during
the entire period of the child's physical or mental disability,
whichever period is longer.
(4) Upon the cessation of payments to one (1) designated child,
if there is at least one (1) other child then surviving and still
entitled to payments, the remaining child or children shall share
equally the annuity. If the surviving spouse of the participant is
surviving upon the cessation of payments to all designated
children, the surviving spouse will then receive the annuity for the
remainder of the surviving spouse's life.
(5) The annuity shall be payable to the participant's surviving
spouse if any of the following occur:
(A) No child named as a beneficiary by a participant survives
the participant.
(B) No children designated by the participant are entitled to an
annuity due to their age at the time of death of the participant.
(C) A designation is not made.
(6) An annuity payable to a surviving child or children may be
paid to a trust or a custodian account under IC 30-2-8.5,
established for the surviving child or children as designated by the
participant.
[Pre-2004 Recodification Citation: 33-13-9.1-4.]

Legislative History

As added by P.L.98-2004, SEC.17. Amended by P.L.28-2005, SEC.1.