Introduced Version





SENATE RESOLUTION No. ___




DIGEST OF INTRODUCED RESOLUTION


     A SENATE RESOLUTION urging the Legislative Council to direct the Pension Management Oversight Commission to study the possibility of establishing a qualified domestic relations order applicable to public employee retirement funds.



HARRISON




     , read first time and referred to Committee on








Introduced

Second Regular Session 113th General Assembly (2004)


SENATE RESOLUTION


     MADAM PRESIDENT:

    I offer the following resolution and move its adoption:

    A SENATE RESOLUTION urging the Legislative Council to direct the Pension Management Oversight Commission to study the possibility of establishing a qualified domestic relations order applicable to public employee retirement funds.
    Whereas, a qualified domestic relations order is a court order, issued in an action for dissolution of marriage, which instructs a pension plan to pay an alternate payee a portion of retirement benefits accrued by a participant;

    Whereas, many Indiana residents are currently covered by a public employee retirement fund. For many of these residents, pension savings represent one of their most significant assets; and

    Whereas, during the second regular session of the 113th General Assembly, House Bill 1249 was introduced regarding the establishment of a qualified domestic relations order applicable to public employee retirement funds: Therefore,

Be it resolved by the Senate of the

General Assembly of the State of Indiana:


    SECTION 1. That the Indiana Senate urges the Legislative Council to direct the Pension Management Oversight Commission to study the possibility of establishing a qualified domestic relations order applicable to public employee retirement funds.
    SECTION 2. That the Pension Management Oversight Commission, if directed to take such action, shall issue a report when directed to do so by the Council.
    SECTION 3. The Secretary of the Senate is hereby directed to transmit a copy of this Resolution to the Legislative Council.