Bill Text: IN HB1223 | 2013 | Regular Session | Amended
Bill Title: PERF and TRF minimum benefit.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2013-01-23 - Representative Morris added as coauthor [HB1223 Detail]
Download: Indiana-2013-HB1223-Amended.html
Citations Affected: IC 5-10.2.
Synopsis: PERF and TRF minimum benefit. Provides that the pension
portion of the monthly benefit payable after December 31, 2013, to a
member of the Indiana state teachers' retirement fund (TRF) or a
member of the public employees' retirement fund (PERF) 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 14, 2013, read first time and referred to Committee on Employment, Labor and
Pensions.
January 22, 2013, reported _ Do Pass; referred to Committee on Ways and Means
pursuant to House Rule 127.
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
A BILL FOR AN ACT to amend the Indiana Code concerning
pensions.
(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.
1, 2013]: Sec. 45. (a) In addition to any other cost of living increase
provided under this chapter or IC 5-10.3-8, 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 public employees'
retirement fund (or to a survivor or beneficiary of a member of the
public employees' retirement 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.