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

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Adopted Rejected







    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