Bill Text: IN SB0034 | 2012 | Regular Session | Introduced
Bill Title: Confidential public pension information.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2012-01-04 - First reading: referred to Committee on Pensions and Labor [SB0034 Detail]
Download: Indiana-2012-SB0034-Introduced.html
Citations Affected: IC 5-10.5-6-4.
Synopsis: Confidential public pension information. Provides that the
Indiana retirement system may disclose member financial records of a
member of the public employees' retirement fund or the teachers'
retirement fund to the member's employer or a designated
representative of the member's employer, if the person agrees to: (1)
maintain the confidentiality of the information; and (2) use the
information solely for the purpose of administering the applicable fund
or providing retirement counseling to the member. (The introduced
version of this bill was prepared by the pension management oversight
commission.)
Effective: July 1, 2012.
January 4, 2012, read first time and referred to Committee on Pensions and Labor.
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.
(1) individual members of; and
(2) membership information concerning;
a public pension or retirement fund administered by the board are confidential, except for the name and years of service of a member.
(b) This section does not prohibit the board from providing fund records to an association or organization described in IC 2-3.5-4-12, IC 2-3.5-5-10, IC 5-10.3-8-10, IC 5-10.4-5-14, or IC 36-8-8-17.2.
(c) This subsection applies to the records of members of the public employees' retirement fund and the teachers' retirement fund. Notwithstanding IC 5-14-3 and subsection (a), the board may disclose member financial records, including the account balance of a member's annuity savings account, to the member's employer (as defined by IC 5-10.2-1-3) or a designated representative of the
member's employer if the person agrees to:
(1) maintain the confidentiality of the information; and
(2) use the information solely for the purpose of administering
the applicable fund or providing retirement counseling to the
member.
