SENATE BILL No. 442
DIGEST OF INTRODUCED BILL
Citations Affected: IC 5-10.4-6-11.
Synopsis: TRF retirement benefit adjustment. Provides that the
pension portion of the monthly benefit payable to a member of the
Indiana state teachers' retirement fund (TRF) who retired before
January 1, 1980, and has at least 20 years of creditable service may not
be less than $500.
Effective: July 1, 2013.
January 10, 2013, read first time and referred to Committee on Pensions and Labor.
First Regular Session 118th General Assembly (2013)
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SENATE BILL No. 442
A BILL FOR AN ACT to amend the Indiana Code concerning
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 5-10.4-6-11; (13)IN0442.1.1. -->
SECTION 1. IC 5-10.4-6-11 IS ADDED TO THE INDIANA CODE
AS A NEW
SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2013]: Sec. 11. (a) In addition to any other cost of living increase
provided under this chapter or IC 5-10.2-5, the pension portion
(plus postretirement increases to the pension portion) provided by
employer or state contributions of the monthly benefit payable
after December 31, 2013, to a member of the fund (or to a survivor
or beneficiary of a member of the fund) who retired before
January 1, 1980, and has at least twenty (20) years of creditable
service may not be less than five hundred dollars ($500).
(b) The increases specified in this section:
(1) are based on 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.