Indiana § 5-10.2-5-6 Post-retirement cost of living increase payable on or after July 1, 1977

Indiana Statutes

§ 5-10.2-5-6 — Post-retirement cost of living increase payable on or after July 1, 1977

Indiana § 5-10.2-5-6

Title 5STATE AND LOCAL ADMINISTRATION

Art. 10.2PUBLIC RETIREMENT AND DISABILITY

Ch. 5Restricted Benefits

This text of Indiana § 5-10.2-5-6 (Post-retirement cost of living increase payable on or after July 1, 1977) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 5-10.2-5-6 (2026).

Text

(a)The monthly benefit (B) payable on and after July 1, 1977, to a member, or a survivor or beneficiary of a member, who retired or was disabled before July 2, 1972, shall be increased by an amount equal to the benefit payable (J) in June 1977 times one-half percent (1/2%) times the number of years (y) from the member's date of retirement or disability through June 1977. Expressed mathematically: B = (1 + .005y)J This subsection does not apply to persons receiving disability benefits under IC 5-10.4-5-2.

(b)As a cost of living increase, the retirement, disability, and survivor benefit payable on and after July 1, 1978, to a member, or a beneficiary or survivor of a member, who retired before July 2, 1977, shall be increased by three percent (3%). This subsection does not apply to benefit

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(a) The monthly benefit (B) payable on and
after July 1, 1977, to a member, or a survivor or beneficiary of a
member, who retired or was disabled before July 2, 1972, shall be
increased by an amount equal to the benefit payable (J) in June 1977
times one-half percent (1/2%) times the number of years (y) from the
member's date of retirement or disability through June 1977.
Expressed mathematically: B = (1 + .005y)J
This subsection does not apply to persons receiving disability benefits
under IC 5-10.4-5-2.
(b) As a cost of living increase, the retirement, disability, and
survivor benefit payable on and after July 1, 1978, to a member, or a
beneficiary or survivor of a member, who retired before July 2, 1977,
shall be increased by three percent (3%). This subsection does not
apply to benefits payable in a lump sum.
As added by Acts 1977(ss), P.L.2, SEC.2. Amended by
P.L.2-2006, SEC.26.