HB 1306-2_ Filed 02/23/2004, 10:35 Lewis
that Engrossed House Bill 1306 be amended to read as follows:
SOURCE: Page 1, line 1; (04)MO130601.1. -->
Page 1, between the enacting clause and line 1, begin a new
paragraph and insert:
SOURCE: IC 5-10.2-5-35; (04)MO130601.1. -->
"SECTION 1. IC 5-10.2-5-35 IS ADDED TO THE INDIANA
CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2004]: Sec. 35. (a) In addition to any other cost of living
adjustment provided under this chapter, the pension portion (plus
postretirement increases to the pension portion) provided by
employer contribution of the monthly benefit payable after June
30, 2004, to a member of the public employees' retirement fund
(or a survivor or beneficiary of a member) who was retired or
disabled before July 2, 2002, and who was entitled to receive a
monthly benefit on October 1, 2003, shall be increased by the
(1) Two percent (2%), for a member who retired or was
disabled before January 1, 1990.
(2) One percent (1%), for a member who retired or was
disabled after December 31, 1989.
(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
eight dollars and fifty cents ($8.50).
(c) The increases specified in this section:
(1) are based on the date of the member's latest retirement;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.".
SOURCE: Page 1, line 8; (04)MO130601.1. -->
Page 1, between lines 8 and 9, begin a new paragraph and insert:
" (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).".
Page 1, line 9, delete "(b)" and insert " (c)".
Renumber all SECTIONS consecutively.
(Reference is to EHB 1306 as printed February 20, 2004.)