HB 1176-1_ Filed 02/08/2011, 11:09
Adopted 2/8/2011


Text Box

Adopted Rejected


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COMMITTEE REPORT


                                                        YES:

10

                                                        NO:
0

MR. SPEAKER:
    Your Committee on       Employment, Labor and Pensions     , to which was referred       House Bill 1176     , 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 3, line 23; (11)AM117601.3. -->     Page 3, after line 23, begin a new paragraph and insert:
SOURCE: ; (11)AM117601.5. -->     "SECTION 5. [EFFECTIVE JULY 1, 2011] (a) As used in this SECTION, "trustee" has the meaning set forth in IC 10-12-1-10.
    (b) As used in this SECTION, "trust fund" has the meaning set forth in IC 10-12-1-11.
    (c) Not later than October 1, 2011, the trustee shall pay from the trust fund to each employee beneficiary of the state police 1987 benefit system covered by IC 10-12-4 who:
        (1) retired or was disabled after June 30, 1987, and before July 2, 2010; and
        (2) is entitled to receive a monthly benefit as of September 1, 2011;
an amount equal to one percent (1%) of the maximum basic annual

pension amount payable to a retired state police employee in the grade of trooper who has completed twenty-five (25) years of service as of July 1, 2011, as calculated under IC 10-12-4-7.
    (d) The amount paid under this SECTION is not an increase in the monthly pension amount of an employee beneficiary.
     (e) This SECTION expires January 1, 2012.".
    Renumber all SECTIONS consecutively.
    (Reference is to HB 1176 as introduced.)

and when so amended that said bill do pass.

__________________________________

Representative Gutwein


AM117601/DI 96    2011