Indiana § 5-10.5-4-8 Surcharge rates to prefund postretirement benefits

Indiana Statutes

§ 5-10.5-4-8 — Surcharge rates to prefund postretirement benefits

Indiana § 5-10.5-4-8

Title 5STATE AND LOCAL ADMINISTRATION

Art. 10.5INDIANA PUBLIC PENSION

Ch. 4Board Powers and Duties

This text of Indiana § 5-10.5-4-8 (Surcharge rates to prefund postretirement benefits) 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 § 5-10.5-4-8 (2026).

Text

(a)The board shall set the surcharge rates under IC 5-10.2-12-3 at a level to actuarially prefund:

(1)annual indexed thirteenth checks for all current retired members and beneficiaries retired before July 1, 2029; and

(2)one percent (1%) annual cost of living adjustments to future in-payment members and beneficiaries retired on or after July 1, 2029.

(b)The board shall not reduce the surcharge rates under IC 5-10.2-12-3 from the prior year.

(c)The board may increase the surcharge rates under IC 5-10.2-12-3 by not more than one-tenth percent (0.1%) of payroll from the prior year.

(d)This section expires December 31, 2031.

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(a) The board shall set the surcharge rates
under IC 5-10.2-12-3 at a level to actuarially prefund:
(1) annual indexed thirteenth checks for all current retired
members and beneficiaries retired before July 1, 2029; and
(2) one percent (1%) annual cost of living adjustments to future
in-payment members and beneficiaries retired on or after July 1,
2029.
(b) The board shall not reduce the surcharge rates under IC 5-10.2-12-3 from the prior year.
(c) The board may increase the surcharge rates under IC 5-10.2-12-3
by not more than one-tenth percent (0.1%) of payroll from the prior
year.
(d) This section expires December 31, 2031.