§ 36-8-10-12.1 — Maximum monthly pension

Indiana § 36-8-10-12.1

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 8: PUBLIC SAFETY
• Ch. 10: Sheriff's Department; Merit Board; Pensions

Text

1. (a) This section applies to an employee
beneficiary who:
(1) retires after June 30, 1997; and
(2) served in a county that has adopted an ordinance stating that
the maximum monthly pension for an employee beneficiary who
retires after June 30, 1997, shall be determined under this section
instead of section 12(j) of this chapter.
(b) As used in this section, "average monthly wage" means the
lesser of:
(1) the average monthly wage received by the employee
beneficiary during the highest paid three (3) years before
retirement; or
(2) the monthly minimum salary that a full-time prosecuting
attorney is entitled to be paid by the state at the time the employee
beneficiary retires.
(c) Except as provided in subsection (d), an employee beneficiary's
monthly pension may not exceed twenty dollars ($20) plus one-half
(1/2) the amount of the average monthly wage.
(d) The fiscal body of a county may approve an increase in the
maximum monthly pension for an employee beneficiary. The maximum
monthly pension may:
(1) be increased by one percent (1%) of the average monthly wage
for each six (6) months of service after twenty (20) years; and
(2) not exceed seventy-four percent (74%) of the average monthly
wage plus twenty dollars ($20).

Legislative History

As added by P.L.233-1997, SEC.2.