HB 1306-2_ Filed 02/02/2004, 07:37


Text Box

Adopted Rejected


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COMMITTEE REPORT


                                                        YES:

21

                                                        NO:
0

MR. SPEAKER:
    Your Committee on       Ways and Means     , to which was referred       House Bill 1306     , has had the same under consideration and begs leave to report the same back to the House with the recommendation that said bill be amended as follows:

SOURCE: Page 2, line 23; (04)AM130601.2. -->     Page 2, after line 23, begin a new paragraph and insert:
SOURCE: IC 5-10.2-5-37; (04)AM130601.3. -->     "SECTION 3. IC 5-10.2-5-37 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2004]: Sec. 37. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after December 31, 2004, to a member of the Indiana state teachers' retirement fund (or to a survivor or beneficiary of a member of the Indiana state teachers' retirement fund) who retired or was disabled:
        (1) after July 1, 1996, and before July 2, 2002, shall be increased by one percent (1%);
        (2) after July 1, 1978, and before July 2, 1996, shall be

increased by one and five-tenths percent (1.5%); and
        (3) before July 2, 1978, shall be increased by two percent (2%).
    (b) The increases specified in this section:
        (1) are 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.
".
    (Reference is to HB 1306 as introduced.)

and when so amended that said bill do pass.

__________________________________

Representative Crawford


AM130601/DI 92    2004