Introduced Version
SENATE BILL No. 34
_____
DIGEST OF INTRODUCED BILL
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.
Introduced
Second Regular Session 117th General Assembly (2012)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
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SENATE BILL No. 34
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 5-10.5-6-4; (12)IN0034.1.1. -->
SECTION 1. IC 5-10.5-6-4, AS ADDED BY P.L.23-2011,
SECTION 22, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2012]: Sec. 4. (a)
Except as provided in subsection (c),
records of:
(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.