§ 5-10.2-5-12 — 1983 postretirement increases

Indiana § 5-10.2-5-12

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 10.2: PUBLIC RETIREMENT AND DISABILITY
• Ch. 5: Restricted Benefits

Text

(a) The monthly benefit payable after June
30, 1983, to a member, or a survivor or beneficiary of a member, who
retired or was disabled:
(1) before July 2, 1965, shall be increased by three percent (3%);
(2) after July 1, 1965, and before July 2, 1970, shall be increased
by two percent (2%); and
(3) after July 1, 1970, and before July 2, 1975, shall be increased
by one percent (1%).
(b) In addition to the increase specified in subsection (a), the
monthly benefit payable after June 30, 1983, to a member, or a survivor
or beneficiary of a member, who retired or was disabled before July 2,
1982, shall be increased by three percent (3%).
(c) The increases specified in this section:
(1) shall be based upon the date of the member's initial retirement
or disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.

Legislative History

As added by P.L.50-1983, SEC.1.