Indiana § 33-38-8-25 Cost of living adjustments for certain participants

Indiana Statutes

§ 33-38-8-25 — Cost of living adjustments for certain participants

Indiana·Art. 38 JUDGES·Ch. 8 1985 Retirement, Disability, and Death System

(a)This section applies:

(1)only to a participant:

(A)who applies to receive a retirement benefit from the fund before January 1, 2010; or

(B)who:

(i)before January 1, 2010, separates from service;

(ii)is entitled to receive a retirement benefit from the fund but does not apply before January 1, 2010, to receive a retirement benefit; and

(iii)does not earn any service credit in the fund after December 31, 2009; and

(2)only in state fiscal years beginning after June 30, 2010.

(b)If a salary increase is provided in a particular state fiscal year under IC 33-38-5-8.1, the monthly benefit payable under this chapter to a participant described in subsection (a) shall be increased by the same percentage by which salaries are increased under IC 33-38-5-8.1(b) in that state fiscal year. Th

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(a) This section applies:
(1) only to a participant:
(A) who applies to receive a retirement benefit from the fund
before January 1, 2010; or
(B) who:
(i) before January 1, 2010, separates from service;
(ii) is entitled to receive a retirement benefit from the fund
but does not apply before January 1, 2010, to receive a
retirement benefit; and
(iii) does not earn any service credit in the fund after
December 31, 2009; and
(2) only in state fiscal years beginning after June 30, 2010.
(b) If a salary increase is provided in a particular state fiscal year
under IC 33-38-5-8.1, the monthly benefit payable under this chapter
to a participant described in subsection (a) shall be increased by the
same percentage by which salaries are increased under IC 33-38-5-8.1(b) in that state fiscal year. The percentage increase shall
be applied to the monthly benefit (including any previous increases to
the monthly benefit received under this section or under any other
provision) received by the participant as of June 30 of the immediately
preceding state fiscal year. The percentage increase to the monthly
benefit takes effect at the same time that the salary increase under IC 33-38-5-8.1 takes effect.
(c) This subsection applies only if:
(1) a salary increase is not provided in a particular state fiscal year
under IC 33-38-5-8.1; and
(2) the salary of a judge is increased under IC 33-38-5-6, IC 33-38-5-8, or any other provision enacted by the general assembly
in the state fiscal year.
The monthly benefit payable under this chapter to a participant
described in subsection (a) shall be increased by the same percentage
by which the salary being paid for the office that the participant held at
the time of the participant's separation from service is increased under
IC 33-38-5-6, IC 33-38-5-8, or any other provision enacted by the
general assembly. The percentage increase shall be applied to the
monthly benefit (including any previous increases to the monthly
benefit received under this section or under any other provision)
received by the participant as of June 30 of the immediately preceding
state fiscal year. The percentage increase to the monthly benefit takes
effect at the same time that the salary increase under IC 33-38-5-6, IC 33-38-5-8, or any other provision enacted by the general assembly
takes effect.
(d) An increase payable under this section may not include any
amount based on the percentage by which any salary provided by a
county or counties under IC 36-2-5-14 or IC 36-3-6-3(c) is increased.

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