January 26, 2007
HOUSE BILL No. 1078
_____
DIGEST OF HB 1078
(Updated January 25, 2007 9:16 am - DI 103)
Citations Affected: IC 10-12.
Synopsis: State police supplemental pension benefits. Provides that
the state police pension advisory board may meet at any time to
compute the supplemental pension benefits for members of the state
police pre-1987 benefit system. Requires the board to meet at least one
time each year.
Effective: Upon passage.
January 8, 2007, read first time and referred to Committee on Veterans Affairs and Public
Safety.
January 26, 2007, reported _ Do Pass.
January 26, 2007
First Regular Session 115th General Assembly (2007)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
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HOUSE BILL No. 1078
A BILL FOR AN ACT to amend the Indiana Code concerning
pensions.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 10-12-5-3; (07)HB1078.1.1. -->
SECTION 1. 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: annually:
(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 supplemental benefit equal to fifty
percent (50%) of the difference between:
(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
active service.
SOURCE: IC 10-12-5-5; (07)HB1078.1.2. -->
SECTION 2. 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.