§ 5-10.2-5-42 — Teachers' retirement fund; cost of living increase payable after December 31, 2007

Indiana § 5-10.2-5-42

• 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, 2007, to a member
of the Indiana state teachers' retirement fund (or to a survivor or
beneficiary of a member of the Indiana state teachers' retirement fund)
who retired or was disabled:
(1) before July 2, 1999, shall be increased by two percent (2%);
and
(2) after July 1, 1999, and before July 2, 2005, shall be increased
by one percent (1%).
(b) The increases specified in this section:
(1) are 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.87-2007, SEC.1.