Introduced Version






SENATE BILL No. 206

_____


DIGEST OF INTRODUCED BILL



Citations Affected: IC 10-1.

Synopsis: State police pension cost of living allowance. Provides a 2% cost of living adjustment to a member of the 1987 state police benefit system who retired or was disabled after July 1, 1987, and before July 2, 1999. Provides that the amount of the basic supplemental pension benefit for an eligible retired member of the state police pre-1987 benefit system (the "pre-1987 system") is equal to 50% of the total increase occurring after the retiree's retirement date in the pension benefits to be received by an employee retiring from the state police department after July 1, 1970, with 20 years of active service. Provides that the maximum supplemental pension benefit that a retired member of the pre-1987 system may receive is 100% of the total increase occurring after the retiree's retirement date in the pension benefits of a retired employee with 20 years of service. Provides a cost of living adjustment to a retired or disabled member of the pre-1987 system equal to the greater of: (1) the supplemental benefit that will accrue to the member between July 1, 2000, and July 1, 2001; or (2) 2% for a member who retired or was disabled after July 1, 1984, and before July 2, 1999, 3% for a member who retired or was disabled after July 1, 1976, and before July 2, 1984, or 4% for a member who retired or was disabled before July 2, 1976.

Effective: July 1, 2000.





Landske




    January 10, 2000, read first time and referred to Committee on Pensions and Labor.







Introduced

Second Regular Session 111th General Assembly (2000)


PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts between statutes enacted by the 1999 General Assembly.

SENATE BILL No. 206



    A BILL FOR AN ACT to amend the Indiana Code concerning state police, civil defense and military affairs.

Be it enacted by the General Assembly of the State of Indiana:

    SECTION 1. IC 10-1-2.3-9 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2000]: Sec. 9. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after June 30, 2000, to a member of the state police 1987 benefit system who retired or was disabled after July 1, 1987, and before July 2, 1999, shall be increased by two percent (2%).
    (b) The increases specified in this section:
        (1) shall be 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.

    SECTION 2. IC 10-1-2.6-3 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2000]: Sec. 3. (a) The supplemental benefits provided for in this chapter shall be under the direction and supervision of the pension advisory board that administers the pension

under IC 10-1-2.2.
     (b) The pension advisory board shall annually provide a schedule showing the number of retirees receiving pension benefits under IC 10-1-2.2 and shall add to the regular pension benefit, or annuity, as the case may be, a supplemental benefit in a sum sufficient to equal fifty percent (50%) of the difference between the retiree's pension amount and total increase occurring after the retiree's retirement date in the pension benefits to be received by an employee retiring from the department after July 1, 1970, with twenty (20) years of active service.
    SECTION 3. IC 10-1-2.6-4 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2000]: Sec. 4. As an incentive to all employees of the department, the supplemental pension benefits of this chapter shall be increased over and above the fifty percent (50%) increase provided for in section 3 of this chapter, at the rate of five percent (5%) per year for each year of active service up to thirty (30) years service, so as to provide that retired employees with thirty (30) years service are entitled to one hundred percent (100%) of the regular total increase occurring after the retiree's retirement date in the pension benefits of employees who retire with twenty (20) years of active service after July 1, 1970.
    SECTION 4. IC 10-1-2.6-8 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2000]: Sec. 8. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after June 30, 2000, to a member of the state police pre-1987 benefit system who is retired or disabled shall be increased by the greater of:
        (1) the amount of the supplemental benefit that will accrue to the member between July 1, 2000, and July 1, 2001, under sections 3 and 4 of this chapter; or
        (2) an amount equal to the pension portion (plus postretirement increases to the pension portion) multiplied by:
            (A) two percent (2%), for a member who retired or was disabled after July 1, 1984, and before July 2, 1999;
            (B) three percent (3%), for a member who retired or was disabled after July 1, 1976, and before July 2, 1984; or
            (C) four percent (4%), for a member who retired or was disabled before July 2, 1976.
    (b) The increases specified in this section:
        (1) shall be 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.