Introduced Version






HOUSE BILL No. 1147

_____


DIGEST OF INTRODUCED BILL



Citations Affected: IC 36-8-10-23.

Synopsis: COLA for county pension plans. Lowers from 55 to 50 the age at which a retired or disabled employee beneficiary of a pension plan established for the sheriff's department in a county may receive a cost of living adjustment.

Effective: July 1, 2002.





Munson




    January 9, 2002, read first time and referred to Committee on Rules and Legislative Procedures.







Introduced

Second Regular Session 112th General Assembly (2002)


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 2001 General Assembly.

HOUSE BILL No. 1147



    A BILL FOR AN ACT to amend the Indiana Code concerning pensions.

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

SOURCE: IC 36-8-10-23; (02)IN1147.1.1. -->     SECTION 1. IC 36-8-10-23 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2002]: Sec. 23. (a) This section applies to a county that adopts the provisions of this section by an ordinance of the county fiscal body.
    (b) The county fiscal body may provide for:
        (1) an annual cost of living payment to retired or disabled employee beneficiaries, or both; or
        (2) an ad hoc cost of living payment to retired or disabled employee beneficiaries, or both. The amount of the ad hoc cost of living payment under this subdivision is not an increase in the base pension benefit calculated under section 12 or 12.1 of this chapter.
    (c) In the case of an annual cost of living payment granted under subsection (b)(1), the amount of the cost of living payment shall be determined each year by the pension engineers under this subsection. The pension engineers shall determine if there has been an increase in the Consumer Price Index (United States city average) prepared by the

United States Department of Labor by comparing the arithmetic mean of the Consumer Price Index for January, February, and March of the payment year with the same three (3) month period of the preceding year. If there has been an increase, the increase shall be stated as a percentage of the arithmetic mean for the three (3) month period for the year preceding the payment year (the adjustment percentage). The adjustment percentage shall be rounded to the nearest one-tenth of one percent (0.1%) and may not exceed three percent (3%).
    (d) In the case of a cost of living payment granted under subsection (b)(2), the amount of the cost of living payment shall be determined by the county fiscal body and may be:
        (1) a percentage increase, not to exceed the percentage determined under subsection (c); or
        (2) a fixed dollar amount.
    (e) A payment authorized under this section shall be made to each authorized retired or disabled employee beneficiary and may be made annually, semiannually, quarterly, or monthly.
    (f) A cost of living payment granted under this section shall be funded by a direct appropriation or by maintaining a fully funded actuarially sound trust fund.
    (g) A cost of living payment granted under this section is applicable only to retired or disabled employee beneficiaries who are at least fifty-five (55) fifty (50) years of age.
    (h) No provision of this section shall be made part of any ordinance or agreement concerning collective bargaining. No provision of this section shall be subject to bargaining under any statute, ordinance, or agreement.

SOURCE: ; (02)IN1147.1.2. -->     SECTION 2. [EFFECTIVE JULY 1, 2002] IC 36-8-10-23 , as amended by this act, applies to cost of living payments granted after June 30, 2002.