§ 5-10.2-5-40 — Public employees' retirement fund; benefit increase payable after December 31, 2006

Indiana § 5-10.2-5-40

• 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 December 31, 2006, to a member
of the public employees' retirement fund (or to a survivor or beneficiary
of a member of the public employees' retirement fund) who retired or
was disabled before January 1, 2006, shall be increased by two percent
(2%).
(b) The increase specified in this section:
(1) is based on the date of the member's latest retirement or
disability;
(2) does not apply to benefits payable in a lump sum; and
(3) is in addition to any other increase provided by law.

Legislative History

As added by P.L.115-2006, SEC.1. Amended by P.L.1-2007, SEC.27.