SB 30-1_ Filed 02/16/2010, 13:37


Text Box

Adopted Rejected


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COMMITTEE REPORT


                                                        YES:

10

                                                        NO:
0

MR. SPEAKER:
    Your Committee on       Labor and Employment     , to which was referred       Senate Bill 30     , has had the same under consideration and begs leave to report the same back to the House with the recommendation that said bill be amended as follows:

SOURCE: Page 1, line 1; (10)AM003003.1. -->     Page 1, between the enacting clause and line 1, begin a new paragraph and insert:
SOURCE: IC 2-3.5-3-4; (10)AM003003.1. -->     "SECTION 1. IC 2-3.5-3-4 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2010]: Sec. 4. (a) The PERF board shall administer the system, which may be commingled with the PERF fund for investment purposes.
    (b) The PERF board shall:
        (1) determine eligibility for and make payments of benefits under this chapter, IC 2-3.5-4, and IC 2-3.5-5;
        (2) in accordance with the powers and duties granted in IC 5-10.3-3-7, IC 5-10.3-3-7.1, IC 5-10.3-3-8, and IC 5-10.3-5-3 through IC 5-10.3-5-6, administer the system; and
        (3) provide by rule for the implementation of this chapter, IC 2-3.5-4, and IC 2-3.5-5; and
         (4) authorize deposits.
    (c) A determination by the PERF board may be appealed under IC 4-21.5.
    (d) The powers and duties of:
        (1) the director and the actuary of the PERF board;
        (2) the treasurer of state;
        (3) (2) the attorney general; and
        (4) (3) the auditor of state;
with respect to the fund are those specified in IC 5-10.3-3 and IC 5-10.3-4.
    (e) The PERF board may hire additional personnel, including hearing officers, to assist in the implementation of this chapter.
    (f) Legislators' retirement system records of individual participants and participants' information are confidential, except for the name and years of service of a retirement system participant.".
SOURCE: Page 6, line 6; (10)AM003003.6. -->     Page 6, between lines 6 and 7, begin a new paragraph and insert:
SOURCE: IC 5-10.3-8-5; (10)AM003003.4. -->     "SECTION 4. IC 5-10.3-8-5 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2010]: Sec. 5. Claims of Error. A member may petition the board to correct an error in the determination of his the member's:
        (1)
creditable service; or of his
         (2) benefit;
within one (1) year after the determination. at any time. The petition must contain the necessary information to sustain his the member's claim of error. The board shall investigate the claim and, if error is found, shall order the member's records corrected. If no error is found and the member petitioned the board to correct the error within six (6) years after the determination of the member's creditable service or benefit, the member may appeal the board's decision under IC 4-21.5.".
SOURCE: Page 6, line 11; (10)AM003003.6. -->     Page 6, between lines 11 and 12, begin a new paragraph and insert:
SOURCE: IC 5-10.4-2-6; (10)AM003003.6. -->     "SECTION 6. IC 5-10.4-2-6, AS ADDED BY P.L.2-2006, SECTION 28, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 6. (a) The board shall do the following:
        (1) Credit interest to the members' annuity savings accounts in the guaranteed fund and actual earnings to the alternative investment programs.
        (2) After complying with subdivision (1), distribute an amount up

to the interest credit rate, not to exceed any remaining earnings, to the reserve accounts.
        (3) After complying with subdivisions (1) and (2), distribute any remaining undistributed income reserve as of the end of each fiscal year on a pro rata basis, based on fiscal year beginning balances, to all reserve accounts in the pre-1996 account, including the pension stabilization fund, and in the 1996 account.
    (b) Income may not be distributed under subsection (a)(2) or (a)(3) to the following:
        (1) Members' annuity savings accounts in the guaranteed fund or the alternative investment program.
        (2) The annuity reserve for benefits-in-force.
         accounting period as determined by the rules of the board.".

SOURCE: Page 6, line 25; (10)AM003003.6. -->     Page 6, between lines 25 and 26, begin a new paragraph and insert:
SOURCE: IC 5-10.4-5-17; (10)AM003003.8. -->     "SECTION 8. IC 5-10.4-5-17 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2010]: Sec. 17. A member may petition the board to correct an error in the determination of the member's:
        (1) creditable service; or
        (2) benefit;
at any time. The petition must contain the necessary information to sustain the member's claim of error. The board shall investigate the claim and, if an error is found, shall order the member's records corrected. If no error is found and the member petitioned the board to correct the error within six (6) years after the determination of the member's creditable service or benefit, the member may appeal the board's decision under IC 4-21.5.

SOURCE: IC 33-38-6-23; (10)AM003003.9. -->     SECTION 9. IC 33-38-6-23 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2010]: Sec. 23. (a) The board of trustees of the public employees' retirement fund shall administer the fund, which may be commingled with the public employees' retirement fund for investment purposes.
    (b) The board shall do the following:
        (1) Determine eligibility for and make payments of benefits under IC 33-38-7 and IC 33-38-8.
        (2) In accordance with the powers and duties granted it in IC 5-10.3-3-7, IC 5-10.3-3-7.1, IC 5-10.3-3-8, and IC 5-10.3-5-3 through IC 5-10.3-5-6, administer the fund.
        (3) Provide by rule for the implementation of this chapter and IC 33-38-7 and IC 33-38-8.
         (4) Authorize deposits.
    (c) A determination by the board may be appealed under the procedures in IC 4-21.5.
    (d) The powers and duties of:
        (1) the director and the actuary of the board;
        (2) the treasurer of state;
        (3) (2) the attorney general; and
        (4) (3) the auditor of state;
with respect to the fund are those specified in IC 5-10.3-3 and IC 5-10.3-4.
    (e) The board may hire additional personnel, including hearing officers, to assist it in the implementation of this chapter.
    (f) Fund records of individual participants and participants' information are confidential, except for the name and years of service of a fund participant.
SOURCE: IC 33-39-7-11; (10)AM003003.10. -->     SECTION 10. IC 33-39-7-11 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2010]: Sec. 11. (a) The board shall administer the fund, which may be commingled with the public employees' retirement fund for investment purposes.
    (b) The board shall do the following:
        (1) Determine eligibility for and make payments of benefits under this chapter.
        (2) In accordance with the powers and duties granted the board in IC 5-10.3-3-7, IC 5-10.3-3-7.1, IC 5-10.3-3-8, and IC 5-10.3-5-3 through IC 5-10.3-5-6, administer the fund.
        (3) Provide by rule for the implementation of this chapter.
         (4) Authorize deposits.
    (c) A determination by the board may be appealed under IC 4-21.5.
    (d) The powers and duties of:
        (1) the director and the actuary of the board;
        (2) the treasurer of state;
        (3) (2) the attorney general; and
        (4) (3) the auditor of state;
with respect to the fund are those specified in IC 5-10.3-3 and IC 5-10.3-4.
    (e) The board may hire additional personnel, including hearing

officers, to assist in the implementation of this chapter.
    (f) Fund records of individual participants and participants' information are confidential, except for the name and years of service of a fund participant.

SOURCE: IC 36-8-8-5; (10)AM003003.11. -->     SECTION 11. IC 36-8-8-5 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2010]: Sec. 5. (a) The PERF board shall:
        (1) determine eligibility for and make payments of benefits, except as provided in section 12 of this chapter;
        (2) in accordance with the powers and duties granted it in IC 5-10.3-3-7, IC 5-10.3-3-8, and IC 5-10.3-5-3 through IC 5-10.3-5-6, administer the 1977 fund; and
        (3) provide by rule for the implementation of this chapter; and
         (4) authorize deposits.
    (b) A determination by the PERF board may be appealed under the procedures in IC 4-21.5.
    (c) The powers and duties of the director and the actuary of the PERF board, the treasurer of state, the attorney general, and the auditor of state, with respect to the 1977 fund, are those specified in IC 5-10.3-3 and IC 5-10.3-4.
    (d) The PERF board may hire additional personnel, including hearing officers, to assist it in the implementation of this chapter.
    (e) The 1977 fund records of individual members and membership information are confidential, except for the name and years of service of a 1977 fund member.".
    Renumber all SECTIONS consecutively.
    (Reference is to SB 30 as printed January 12, 2010.)

and when so amended that said bill do pass.

__________________________________

Representative Niezgodski


AM003003/DI 96    2010