Second Regular Session 113th General Assembly (2004)


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.
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    HOUSE ENROLLED ACT No. 1306



     AN ACT to amend the Indiana Code concerning pensions.

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

SOURCE: IC 5-10.2-5-36; (04)HE1306.1.1. -->     SECTION 1. IC 5-10.2-5-36 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2004]: Sec. 36. (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 public employees' retirement fund (or to a survivor or beneficiary of a member) who retired or was disabled before January 1, 2004, shall be increased by two percent (2%).
    (b) The monthly amount of the increase described in subsection (a) payable to a member of the public employees' retirement fund (or to a survivor or beneficiary of a member) may not be less than five dollars ($5).
    (c) The increases specified in this section:
        (1) are based on 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.

SOURCE: IC 5-10.2-5-37; (04)HE1306.1.2. -->     SECTION 2. 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 two percent (2%); and
        (3) before July 2, 1978, shall be increased by three percent (3%).
    (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.


HEA 1306 _ Concur

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