§ 5-10.2-5-15 — Cost of living increases in pension payable after June 30, 1986

Indiana § 5-10.2-5-15

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

Text

(a) The pension portion (plus postretirement
increases to the pension portion), provided by employer contributions,
of the monthly benefit payable after June 30, 1986, to a member, or a
survivor or beneficiary of a member, who retired or was disabled:
(1) before July 2, 1970, shall be increased by three percent (3%);
(2) after July 1, 1970, and before July 2, 1975, shall be increased
by two percent (2%); and
(3) after July 1, 1975, and before July 2, 1980, shall be increased
by one percent (1%).
(b) In addition to the increase specified in subsection (a), the
pension portion (plus postretirement increases to the pension portion),
provided by employer contributions, of the monthly benefit payable
after June 30, 1986, to a member, or a survivor or beneficiary of a
member, who retired or was disabled before July 2, 1985, shall be
increased by two percent (2%).
(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.41-1986, SEC.1.