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, and deletions will appear in
this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
this style type reconciles
conflicts between statutes enacted by the 2006 Regular Session of the General Assembly.
Be it enacted by the General Assembly of the State of Indiana:
of service as of July 1, 2007, as calculated under section 7 of this
(b) The increases specified in this section:
(1) shall be based on the date of the employee beneficiary's latest retirement or disability;
(2) do not apply to the benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
SECTION 4. IC 10-12-5-3 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 3. (a) The pension advisory board that administers the pension under IC 10-12-3 shall direct and supervise the supplemental benefits provided in this chapter.
(b) The pension advisory board shall:
(1) annually provide a schedule showing the number of retirees receiving pension benefits under IC 10-12-3; and
(2) meet at least one (1) time each year to add to the regular pension benefit or annuity
a and any previously granted
supplemental benefit equal to fifty percent (50%) of the difference
(A) the retiree's pension amount; and
(B) the pension benefits received by an employee retiring from
the department after July 1, 1970, with twenty (20) years of
the amount described in subsection (c).
(c) The supplemental benefit referred to in subsection (b)(2) is equal to fifty percent (50%) of the difference between:
(1) the pension benefits to be received by an employee retiring from the department with twenty (20) years of active service the day after a change in the monthly wage received by a police employee in the grade of trooper at the beginning of the trooper's sixth year of service; and
(2) the lesser of:
(A) the pension benefit received by the employee beneficiary; or
(B) the pension benefit received by an employee retiring from the department with twenty (20) years of active service the day before a change in the monthly wage received by a police employee in the grade of trooper at the beginning of the trooper's sixth year of service.
SECTION 5. IC 10-12-5-4 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 4. As an incentive to all employees of the department, the supplemental pension benefits
of this chapter shall be increased by more than the fifty percent (50%)
increase provided in section 3 of this chapter, at the rate of a five
percent (5%) per year increase for each year of active service over
twenty (20) years up to thirty (30) years of service,
to provide that
retired employees with thirty (30) years of service are entitled to one
hundred percent (100%) of the regular pension benefits of employees
who retire with twenty (20) years of active service after July 1, 1970.
as calculated in section (3)(c) of this chapter.
SECTION 6. IC 10-12-5-5 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 5. (a) The pension advisory board
shall may meet at any time to make the necessary
computations required by this chapter. on or before August 1 of each
year preceding a session of the general assembly.
(b) The general assembly shall appropriate and the budget agency shall make available an amount sufficient to provide the funds necessary for supplemental pension benefits for eligible retirees under this chapter.
SECTION 7. An emergency is declared for this act.