§ 5-10.2-5-26 — Pension increases payable after June 30, 1998

Indiana § 5-10.2-5-26

• 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, 1998, to a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund or a survivor or beneficiary of a member of the public
employees' retirement fund or the Indiana state teachers' retirement
fund who retired or was disabled:
(1) after July 1, 1983, and before July 2, 1995, shall be increased
by two percent (2%);
(2) after July 1, 1975, and before July 2, 1983, shall be increased
by three percent (3%); and
(3) before July 2, 1975, shall be increased by four percent (4%).
(b) The increases specified in this section:
(1) shall be based upon the date of the member's latest 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.45-1998, SEC.1.