§ 5-10.4-6-8 — Postretirement increase payable after December 31, 2002

Indiana § 5-10.4-6-8

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 10.4: STATE TEACHERS' RETIREMENT FUND
• Ch. 6: 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, 2002, to a member
of the fund (or to a survivor or beneficiary of a member of the fund)
who retired or was disabled:
(1) after July 1, 1995, and before July 2, 2000, shall be increased
by one percent (1%);
(2) after July 1, 1977, and before July 2, 1995, shall be increased
by two percent (2%); and
(3) before July 2, 1977, shall be increased by three percent (3%).
(b) The increases specified in this section:
(1) are based on 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.
[Pre-2006 Education Finance Recodification Citation:
5-10.2-5-32.]

Legislative History

As added by P.L.2-2006, SEC.28.