Reprinted
January 25, 2005
SENATE BILL No. 149
_____
DIGEST OF SB 149
(Updated January 24, 2005 3:01 pm - DI 44)
Citations Affected: IC 5-10.3; IC 21-6.1.
Synopsis: Trustees of pension funds. Adds the director of the budget
agency or the director's designee to the boards of trustees of the public
employees' retirement fund (PERF) and the teachers' retirement fund
(TRF). Eliminates membership in a collective bargaining unit of state
employees as one of the alternative criteria for appointment to the
PERF board. Provides that members of each board who are state
officers or employees are not entitled to a per diem but are entitled to
reimbursement for necessary expenses incurred through service on the
board.
Effective: July 1, 2005.
Lubbers
January 4, 2005, read first time and referred to Committee on Pensions and Labor.
January 20, 2005, reported favorably _ Do Pass.
January 24, 2005, read second time, amended, ordered engrossed.
Reprinted
January 25, 2005
First Regular Session 114th General Assembly (2005)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
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SENATE BILL No. 149
A BILL FOR AN ACT to amend the Indiana Code concerning
pensions.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 5-10.3-3-1; (05)SB0149.2.1. -->
SECTION 1. IC 5-10.3-3-1 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2005]: Sec. 1. (a) The board is
composed of
six (6) trustees.
(b) Five (5)
of the trustees
shall be appointed by the governor,
as
follows:
(1) One (1)
of whom must be a member of the fund with at least
ten (10) years of creditable service.
(2) Not more than three (3)
of whom may be members of the same
political party.
and
(3) One (1)
of whom must be
(A) a member of a collective bargaining unit of state
employees represented by a labor organization; or
(B) an officer of a local, a national, or an international labor
union that represents state employees.
(c) The director of the budget agency or the director's designee
is an ex officio voting member of the board.
(b) (d) The governor shall fill by appointment vacancies on the
board in the manner described in subsection (a) of this section. (b).
(c) (e) In making the appointments under subsection (a), (b), the
governor may consider whether at least one (1) trustee is a retired
member of the fund.
SOURCE: IC 5-10.3-3-4; (05)SB0149.2.2. -->
SECTION 2. IC 5-10.3-3-4 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2005]: Sec. 4. (a) Each trustee who
is not a state officer or employee is entitled to receive both of the
following:
(1) Compensation of four hundred fifty dollars ($450) on October
1, January 1, April 1, and June 30. In addition, the board shall
reimburse each trustee
(2) Reimbursement for necessary expenses actually incurred
through service on the board.
(b) Each trustee who is a state officer or employee is entitled to
reimbursement for necessary expenses actually incurred through
service on the board.
SOURCE: IC 5-10.3-3-6; (05)SB0149.2.3. -->
SECTION 3. IC 5-10.3-3-6 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2005]: Sec. 6. Voting; Quorum.
Three (3) Four (4) trustees constitute a quorum for the transaction of
business. Each trustee is entitled to one (1) vote on the board. A
majority vote is sufficient for adoption of a resolution or other action
at regular or special meetings.
SOURCE: IC 5-10.3-4-2; (05)SB0149.2.4. -->
SECTION 4. IC 5-10.3-4-2 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2005]: Sec. 2. The Auditor of State.
The auditor of state shall draw warrants upon the treasurer of state in
payment of properly prepared vouchers signed by:
(1) a trustee of the fund, or except for the director of the budget
agency or the director's designee;
(2) the director; or
(3) an assistant designated by the director;
as may be designated by the board.
SOURCE: IC 21-6.1-3-1; (05)SB0149.2.5. -->
SECTION 5. IC 21-6.1-3-1 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2005]: Sec. 1. Composition;
Appointment. (a) The board of trustees is composed of five (5) six (6)
persons.
(b) Five (5) of the trustees shall be appointed by the governor. Not
less than two (2) of whom are the trustees appointed by the governor
must be members of the fund. The governor shall make these
appointments after June 30 and before July 16 each year.
(c) The director of the budget agency or the director's designee
is an ex officio voting member of the board.
SOURCE: IC 21-6.1-3-4; (05)SB0149.2.6. -->
SECTION 6. IC 21-6.1-3-4 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2005]: Sec. 4. (a) On the board's
order:
(1) the trustees who are not state officers or employees shall
receive the same per diem, mileage, and travel allowances paid to
members of the general assembly serving on interim study
committees established by the legislative council; and
(2) the trustees who are state officers or employees are
entitled to reimbursement for necessary expenses actually
incurred through service on the board.
These costs shall be paid from resources at the disposal of the fund.
(b) Special meetings may be conducted on the call of the president
or on the signed call of three (3) trustees.
(c) A majority of the board constitutes a quorum at any meeting for
transacting business.