IN SB0397 | 2010 | Regular Session

Status

Completed Legislative Action
Spectrum: Partisan Bill (Republican 5-0)
Status: Introduced on January 14 2010 - 25% progression, died in chamber
Action: 2010-02-01 - Senator Boots added as second author
Text: Latest bill text (Amended) [HTML]

Summary

Establishes the Indiana public retirement system (system) to administer and manage the following: (1) the public employees' retirement fund (PERF); (2) the teachers' retirement fund (TRF); (3) the judges' retirement fund; (4) the prosecuting attorneys retirement fund; (5) the state excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement fund; (6) the 1977 police officers' and firefighters' pension and disability fund; (7) the legislators' retirement system; (8) the pension relief fund; (9) the special death benefit fund; and (10) the state employees' death benefit fund. Creates an eleven member board of trustees for the system (board) consisting of ten members appointed by the governor and the director of the budget agency (or designee) serving as an ex officio voting member. Requires a trustee to complete annually at least 12 hours of trustee education. Provides that the board's powers and duties are the combined powers and duties of the PERF and TRF boards. Provides that each retirement fund continues as a separate fund managed by the board. Provides for a director of the system who is appointed by and serves at the pleasure of the board. Requires the director to employ managers for PERF and TRF. Allows the director to employ managers for one or more of the other public retirement funds of the system. Makes conforming and technical corrections. Repeals provisions that establish the PERF and TRF boards.

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Title

Indiana public retirement system.

Sponsors


History

DateChamberAction
2010-02-01 Senator Boots added as second author
2010-02-01 Senator Boots removed as coauthor
2010-01-28 Senators M. Young and Stutzman added as coauthors
2010-01-28 Committee report: amend do pass, adopted
2010-01-14 Senators Kruse and Boots added as coauthors
2010-01-14 First reading: referred to Committee on Pensions and Labor
2010-01-14 Authored by Senator Walker

Indiana State Sources


Bill Comments

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