First Regular Session 115th General Assembly (2007)
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
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HOUSE ENROLLED ACT No. 1060
AN ACT to amend the Indiana Code concerning pensions.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 5-10.2-5-42; (07)HE1060.1.1. -->
SECTION 1. IC 5-10.2-5-42 IS ADDED TO THE INDIANA CODE
AS A NEW
SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2007]: Sec. 42. (a) The pension portion (plus postretirement
increases to the pension portion) provided by employer
contributions of the monthly benefit payable after December 31,
2007, 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) before July 2, 1999, shall be increased by two percent
(2) after July 1, 1999, and before July 2, 2005, shall be
increased by one percent (1%).
(b) The increases specified in this section:
(1) are based upon 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.
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