SB 149-3_ Filed 03/28/2005, 11:13 Torr
Adopted 3/28/2005


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    PREVAILED      Roll Call No. _______
    FAILED        Ayes _______
    WITHDRAWN        Noes _______
    RULED OUT OF ORDER


[
HOUSE MOTION ____

]

MR. SPEAKER:

    I move that Engrossed Senate Bill 149 be recommitted to a Committee of One, its sponsor, with specific instructions to amend as follows:

    Page 5, between lines 19 and 20, begin a new paragraph and insert:
    “SECTION 3. IC 5-10.2-4-8 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2005]: Sec. 8. (a) As used in this
section, "exempt amount" means, in the case of a member who has not attained the Social Security normal retirement age for unreduced
benefits, twenty-five thirty-five thousand dollars ($25,000), ($35,000), computed for the calendar year in which a retired public employees' retirement fund member is reemployed and computed for the fiscal year in which a retired teachers' retirement fund member is reemployed.
    (b) This subsection does not apply to a member who is employed by the department of education. If a member who is receiving retirement benefits and who has not attained the Social Security normal retirement age for unreduced benefits:
        (1) becomes reemployed in a position covered by this article; and
        (2) earns in that position more than the exempt amount;
his retirement benefit payments shall stop, and the member shall begin making contributions as required in IC 5-10.2-3-2. However, employer contributions shall be made throughout the period of reemployment. The earnings limitation under this subsection does not apply to a member who has attained the Social Security normal retirement age for unreduced benefits.
    (c) If a member who is receiving retirement benefits is

reemployed in a position covered by this article not more than ninety (90) days after the member's retirement, the member's retirement benefits shall stop, the member shall begin making contributions as required by IC 5-10.2-3-2, and employer contributions shall be made throughout the period of reemployment.
    (d) If a retired member is reemployed in a position covered by this article, section 10 of this chapter applies to the member upon the
member's retirement from reemployment. ”.
    Page 7, after line 17 , begin a new paragraph and insert:
    “ SECTION 9. [EFFECTIVE JULY 1, 2005] IC 5-10.2-4-8, as
amended by this act, applies to:
    (1) fiscal years that begin after June 30, 2005, for teachers' retirement fund members; and
    (2) calendar years that begin after December 31, 2005, for public employees' retirement fund members.
    SECTION 10. [EFFECTIVE JULY 1, 2005] Interest credited prior to July 1, 2005, in the annuity savings account of the public employees' retirement fund to suspended members participating in the guaranteed fund under IC 5-10.2-2-3 shall be treated as properly credited. ”.
    Renumber all SECTIONS consecutively.
    (Reference is to Engrossed Senate Bill 149 as reprinted March 25, 2005.)


________________________________________

Representative TORR




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Adopted Rejected

COMMITTEE REPORT

MR. SPEAKER:

    Your Committee of One, to which was referred Engrossed Senate Bill 149, begs leave to report that said bill has been amended as directed.

________________________________________

Representative TORR


RH 014901/DI jc
2005