Citations Affected: IC 10-12-4-11.
Synopsis: Supplemental benefit for 1987 state police fund. Provides
annually for a supplemental benefit (computed using the consumer
price index (United States city average) prepared by the United States
Department of Labor) for retired members of the state police 1987
benefit system whose basic monthly pension amount is less than the
basic monthly pension amount payable to a retired state police
employee in the grade of a trooper who has completed 25 years of
service as of July 1 of that year. Appropriates annually to the state
police department from the state general fund an amount sufficient to
pay the supplemental benefits.
Effective: Upon passage.
January 16, 2009, read first time and referred to Committee on Ways and Means.
A BILL FOR AN ACT to amend the Indiana Code concerning
public safety and to make an appropriation.
beneficiary described in subsection (a) using the consumer price
index (United States city average) prepared by the United States
Department of Labor. The pension advisory board shall compare
the arithmetic mean of the consumer price index for January,
February, and March of the current year with the arithmetic mean
for the same three (3) months of the immediately preceding year.
(c) If the comparison described in subsection (b) shows that the consumer price index has increased, the increase shall be stated as a percentage of the arithmetic mean for the preceding year's three (3) month period. The percentage shall be rounded to the nearest one-tenth of one percent (0.1%) and may not exceed three percent (3%).
(d) For a year in which the consumer price index has increased, the basic monthly pension amount payable after June 30 to an employee beneficiary described in subsection (a) shall be increased by the percentage determined under subsections (b) and (c). The percentage increase shall be applied to the basic monthly pension amount (including any previous increases received under this section or under any other provision) received by the employee beneficiary as of June 30.
(e) For a year in which the consumer price index has not increased or has decreased, no supplemental benefit is payable under this section.
(f) A supplemental benefit payable under this section is in addition to any other increases provided by law.
(g) There is annually appropriated to the state police department from the state general fund an amount sufficient to pay the supplemental benefits payable under this section.