2013 Indiana Code
TITLE 5. STATE AND LOCAL ADMINISTRATION
ARTICLE 10.2. PUBLIC RETIREMENT AND DISABILITY BENEFITS
CHAPTER 5. RESTRICTED BENEFITS
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IC 5-10.2-5
Chapter 5. Restricted Benefits
IC 5-10.2-5-1
Transitional benefits, 1955
Sec. 1. (a) A member who was an employee of the state or
political subdivision on April 1, 1955, and who was a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund, before April 1, 1955, is entitled to a normal
retirement benefit which, when added to the primary social security
benefit to which he may become entitled under the Social Security
Act, is greater than or equal to the normal retirement benefit to which
he would have been entitled under the retirement fund law in effect
before April 1, 1955.
(b) This section does not abridge, diminish, or cancel any rights,
privileges, or benefits provided to these members under laws in
effect before April 1, 1955.
(c) If a member of the retirement fund of the state board of
accounts:
(1) was a member of that fund on April 1, 1955; and
(2) dies, retires, or qualifies for disability retirement before
April 2, 1970;
the member or his surviving spouse may choose to receive, instead
of the benefits of this article, the annuity survivor or disability
benefits under the retirement fund law in effect on March 31, 1955.
The benefit paid shall be reduced by any payments under the federal
Social Security Act. In addition, the member may receive any annuity
payments provided by additional annuity contributions.
(d) If a member has earnings recorded under the Social Security
Act from employment with more than one (1) employer, the amount
of his primary social security benefit shall be computed by applying
to his total primary social security benefit the percentage which his
earnings recorded for service covered by IC 5-10.1 constitute of his
total earnings recorded under the Social Security Act. The social
security benefit determined is considered payable even if the member
fails to apply for the benefit or loses all or part of it by delaying to
apply for it or by engaging in covered employment or for any other
reason.
(e) The benefit to which the member would have been entitled
under the retirement fund law in effect before April 1, 1955, shall be
computed either:
(1) on the assumption that contributions were made as required
by the retirement fund law on and after the date the member
became subject to the Social Security Act; or
(2) on the basis of his contributions actually made to the fund
on and after April 1, 1955, and to the contribution fund
established in IC 5-10.1 by January 1, 1987;
whichever of subdivision (1) or (2) is larger.
(f) The normal retirement benefit for retirement at any age under
retirement fund laws in effect before April 1, 1955, and for
retirement on or after age sixty-five (65) under this article is the
retirement benefit payable for life without special election. For
retirement before age sixty-five (65) after April 1, 1955, it is the
retirement benefit payable under the option which integrates with the
social security benefit at the youngest age of eligibility for the social
security benefit to provide a uniform total benefit.
(g) The employer responsible for the employer contribution for a
member who is retiring shall make any contributions required to
carry out this section.
As added by Acts 1977, P.L.53, SEC.2. Amended by P.L.57-1987,
SEC.4.
IC 5-10.2-5-2
Members retired pre-1956
Sec. 2. Members Retired Pre-1956. The retirement benefits of
members who retired before January 1, 1956, shall be computed by
multiplying fifteen dollars ($15.00) times years of service and then
adjusting the product obtained for early retirement and the selected
retirement option by using the factors in effect on July 1, 1975.
As added by Acts 1977, P.L.53, SEC.2.
IC 5-10.2-5-3
Surviving spouse, 1956-1959
Sec. 3. Surviving Spouse, 1956-1959. The surviving spouse of a
member who accumulated twenty (20) years of service in his
retirement fund and who died between January 1, 1956, and April 1,
1959, is entitled to the annuity survivor benefits in effect on April 1,
1959.
As added by Acts 1977, P.L.53, SEC.2.
IC 5-10.2-5-4
Cost of living increases
Sec. 4. Cost of Living Increases. As a cost of living increase, the
retirement, disability, and survivor benefit payable on and after July
1, 1976, to a member, or beneficiary or survivor of a member, who
retired before July 2, 1975, shall be increased by three percent (3%).
However, the benefit may not be increased by an amount less than
seven dollars ($7.00) per month nor more than fifteen dollars
($15.00) per month. This section does not apply to benefits payable
in a lump sum.
As added by Acts 1977, P.L.53, SEC.2. Amended by Acts 1977(ss),
P.L.2, SEC.1.
IC 5-10.2-5-5
Special benefit; $200 minimum
Sec. 5. Special Benefit: $200 Minimum. (a) On and after July 1,
1976, a retired member is entitled to a supplemental retirement
benefit to be paid by the fund as long as he meets each of these
conditions:
(1) he currently receives an annuity or pension or other
retirement benefit from his fund;
(2) he was sixty-five (65) years of age or older on July 1, 1976;
and
(3) the amount of all annuities, pensions, and retirement
benefits for which he is eligible under the Social Security Act
is less than two hundred dollars ($200) per month.
(b) The amount of supplemental retirement benefit to which a
qualifying retired member is entitled each month is the difference
between two hundred dollars ($200) and the total of all annuities,
pensions and retirement benefits which he is eligible to receive under
the Social Security Act. A retired member who is not eligible for any
annuity, pension, or retirement benefit under the Social Security Act
on July 1, 1976, and who qualifies under subsection (a) of this
section, is entitled to a supplemental retirement benefit of two
hundred dollars ($200) per month.
(c) This section does not apply to members of the public
employees' retirement fund who have been classified as federal
employees by the secretary of agriculture of the United States.
As added by Acts 1977, P.L.53, SEC.2. Amended by Acts 1978,
P.L.24, SEC.3.
IC 5-10.2-5-6
Post-retirement cost of living increase payable on or after July 1,
1977
Sec. 6. (a) The monthly benefit (B) payable on and after July 1,
1977, to a member, or a survivor or beneficiary of a member, who
retired or was disabled before July 2, 1972, shall be increased by an
amount equal to the benefit payable (J) in June 1977 times one-half
percent (1/2%) times the number of years (y) from the member's date
of retirement or disability through June 1977.
Expressed mathematically: B = (1 + .005y)J
This subsection does not apply to persons receiving disability
benefits under IC 5-10.4-5-2.
(b) As a cost of living increase, the retirement, disability, and
survivor benefit payable on and after July 1, 1978, to a member, or
a beneficiary or survivor of a member, who retired before July 2,
1977, shall be increased by three percent (3%). This subsection does
not apply to benefits payable in a lump sum.
As added by Acts 1977(ss), P.L.2, SEC.2. Amended by P.L.2-2006,
SEC.26.
IC 5-10.2-5-7
Postretirement increase payable on or after July 1, 1979
Sec. 7. Postretirement Increase. (a) The monthly benefit payable
on and after July 1, 1979, to a member, or a survivor or beneficiary
of a member, who retired or was disabled:
(1) before July 2, 1962, shall be increased by six percent (6%);
(2) after July 1, 1962, and before July 2, 1967, shall be
increased by four percent (4%); and
(3) after July 1, 1967, and before July 2, 1972, shall be
increased by two percent (2%).
The increase specified in this section shall be based upon the date of
the member's initial retirement or disability. This section does not
apply to benefits payable in a lump sum.
(b) As a cost of living increase, the retirement, disability, and
survivor benefits payable after June 30, 1979, to a member, or a
beneficiary or a survivor of a member, who retired before August 1,
1978, shall be increased three percent (3%). The increase provided
by this subsection is in addition to any other increase provided by
law. This subsection does not apply to benefits payable in a lump
sum.
As added by Acts 1979, P.L.36, SEC.1.
IC 5-10.2-5-8
Postretirement increase payable on and after July 1, 1980
Sec. 8. Postretirement Increase. The monthly benefit payable on
and after July 1, 1980, to a member, or a survivor or beneficiary of
a member, who retired or was disabled:
(1) before July 2, 1963, shall be increased by nine percent (9%);
(2) after July 1, 1963, and before July 2, 1968, shall be
increased by six percent (6%); and
(3) after July 1, 1968, and before July 2, 1973, shall be
increased by three percent (3%).
The increase specified in this section shall be based upon the date of
the member's initial retirement or disability. This section does not
apply to benefits payable in a lump sum. The increases provided by
this section are in addition to any other increase provided by law.
As added by Acts 1980, P.L.29, SEC.1.
IC 5-10.2-5-9
1980 cost of living adjustment
Sec. 9. 1980 Cost of Living Adjustment. As a cost of living
increase, the retirement, disability, and survivor benefits payable
after June 30, 1980, to a member, or a beneficiary or a survivor of a
member, who retired before August 1, 1979, shall be increased four
percent (4%). The increase provided by this section is in addition to
any other increase provided by law. This section does not apply to
benefits payable in a lump sum.
As added by Acts 1980, P.L.29, SEC.2.
IC 5-10.2-5-10
1981 postretirement increase
Sec. 10. Postretirement Increase. The monthly benefit payable on
and after July 1, 1981, to a member, or a survivor or beneficiary of
a member, who retired or was disabled before July 2, 1968, shall be
increased by three percent (3%). The increase specified in this
section shall be based upon the date of the member's initial
retirement or disability. This section does not apply to benefits
payable in a lump sum. The increases provided by this section are in
addition to any other increase provided by law.
As added by Acts 1981, P.L.49, SEC.2.
IC 5-10.2-5-11
1982 postretirement increases
Sec. 11. 1982 Postretirement Increases. (a) The monthly benefit
payable after June 30, 1982, to a member, or a survivor or
beneficiary of a member, who retired or was disabled before July 2,
1980, shall be increased by four percent (4%).
(b) The increase specified in this section:
(1) shall be based upon the date of the member's initial
retirement or disability;
(2) does not apply to benefits payable in a lump sum; and
(3) is in addition to any other increase provided by law.
As added by Acts 1982, P.L.38, SEC.1.
IC 5-10.2-5-12
1983 postretirement increases
Sec. 12. (a) The monthly benefit payable after June 30, 1983, to
a member, or a survivor or beneficiary of a member, who retired or
was disabled:
(1) before July 2, 1965, shall be increased by three percent
(3%);
(2) after July 1, 1965, and before July 2, 1970, shall be
increased by two percent (2%); and
(3) after July 1, 1970, and before July 2, 1975, shall be
increased by one percent (1%).
(b) In addition to the increase specified in subsection (a), the
monthly benefit payable after June 30, 1983, to a member, or a
survivor or beneficiary of a member, who retired or was disabled
before July 2, 1982, shall be increased by three percent (3%).
(c) The increases specified in this section:
(1) shall be based upon the date of the member's initial
retirement or disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.50-1983, SEC.1.
IC 5-10.2-5-13
Pension increases payable after June 30, 1984
Sec. 13. (a) The pension portion (plus postretirement increases to
the pension portion), provided by employer contributions, of the
monthly benefit payable after June 30, 1984, to a member, or a
survivor or beneficiary of a member, who retired or was disabled:
(1) before July 2, 1966, shall be increased by four percent (4%);
(2) after July 1, 1966, and before July 2, 1971, shall be
increased by three percent (3%); and
(3) after July 1, 1971, and before July 2, 1981, shall be
increased by two percent (2%).
(b) The increases specified in this section:
(1) shall be based upon the date of the member's initial
retirement or disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.30-1984, SEC.1.
IC 5-10.2-5-14
Increases in pension payable after June 30, 1985
Sec. 14. (a) The pension portion (plus postretirement increases to
the pension portion), provided by employer contributions, of the
monthly benefit payable after June 30, 1985, to a member, or a
survivor or beneficiary of a member, who retired or was disabled:
(1) before July 2, 1969, shall be increased by three percent
(3%);
(2) after July 1, 1969, and before July 2, 1974, shall be
increased by two percent (2%); and
(3) after July 1, 1974, and before July 2, 1979, shall be
increased by one percent (1%).
(b) In addition to the increase specified in subsection (a), the
pension portion (plus postretirement increases to the pension
portion), provided by employer contributions, of the monthly benefit
payable after June 30, 1985, to a member, or a survivor or
beneficiary of a member, who retired or was disabled before July 2,
1984, shall be increased by three percent (3%).
(c) The increases specified in this section:
(1) shall be based upon the date of the member's initial
retirement or disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.50-1985, SEC.1.
IC 5-10.2-5-15
Cost of living increases in pension payable after June 30, 1986
Sec. 15. (a) The pension portion (plus postretirement increases to
the pension portion), provided by employer contributions, of the
monthly benefit payable after June 30, 1986, to a member, or a
survivor or beneficiary of a member, who retired or was disabled:
(1) before July 2, 1970, shall be increased by three percent
(3%);
(2) after July 1, 1970, and before July 2, 1975, shall be
increased by two percent (2%); and
(3) after July 1, 1975, and before July 2, 1980, shall be
increased by one percent (1%).
(b) In addition to the increase specified in subsection (a), the
pension portion (plus postretirement increases to the pension
portion), provided by employer contributions, of the monthly benefit
payable after June 30, 1986, to a member, or a survivor or
beneficiary of a member, who retired or was disabled before July 2,
1985, shall be increased by two percent (2%).
(c) The increases specified in this section:
(1) shall be based upon the date of the member's initial
retirement or disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.41-1986, SEC.1.
IC 5-10.2-5-16
Pension increases payable after June 30, 1987
Sec. 16. (a) Subject to subsection (d), the pension portion (plus
postretirement increases to the pension portion), provided by
employer contributions, of the monthly benefit payable after June 30,
1987, to a member, or a survivor or beneficiary of a member, who
retired or was disabled:
(1) before July 2, 1970, shall be increased by three percent
(3%);
(2) after July 1, 1970, and before July 2, 1976, shall be
increased by two percent (2%); and
(3) after July 1, 1976, and before July 2, 1981, shall be
increased by one percent (1%).
(b) In addition to the increase specified in subsection (a), the
pension portion (plus postretirement increases to the pension
portion), provided by employer contributions, of the monthly benefit
payable after June 30, 1987, to a member, or a survivor or
beneficiary of a member, who retired or was disabled before July 2,
1985, shall, subject to subsection (d), be increased by one percent
(1%).
(c) The increases specified in this section:
(1) shall be based upon the date of the member's latest
retirement or disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
(d) This section is applicable only if the general assembly
provides sufficient funding for the increased cost of the benefits
provided by this section.
As added by P.L.59-1987, SEC.1.
IC 5-10.2-5-17
Increases after June 30, 1988
Sec. 17. (a) The pension portion (plus postretirement increases to
the pension portion), provided by employer contributions, of the
monthly benefit payable after June 30, 1988, to a member, or a
survivor or beneficiary of a member, who retired or was disabled:
(1) before July 2, 1970, shall be increased by three percent
(3%);
(2) after July 1, 1970, and before July 2, 1976, shall be
increased by two percent (2%); and
(3) after July 1, 1976, and before July 2, 1981, shall be
increased by one percent (1%).
(b) In addition to the increase specified in subsection (a), the
pension portion (plus postretirement increases to the pension
portion), provided by employer contribution, of the monthly benefit
payable after June 30, 1988, to a member, or a survivor or
beneficiary of a member, who retired or was disabled before July 2,
1986, shall be increased by one percent (1%).
(c) The increases specified in this section:
(1) shall be based upon the date of the member's latest
retirement or disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
(d) This subsection does not apply to a person described in
IC 5-10.4-6-7. For the period beginning July 1, 1988, through June
30, 1989, the costs of the postretirement increases provided by this
section for members of the Indiana state teachers' retirement fund
shall be charged to the retired teacher annuity reserve.
As added by P.L.45-1988, SEC.2. Amended by P.L.2-2006, SEC.27.
IC 5-10.2-5-18
Repealed
(Repealed by P.L.2-2006, SEC.199.)
IC 5-10.2-5-19
Increases after June 30, 1989
Sec. 19. (a) The pension portion (plus postretirement increases to
the pension portion), provided by employer contributions, of the
monthly benefit payable after June 30, 1989, to a member, or a
survivor or beneficiary of a member, who retired or was disabled
before July 2, 1987, shall be increased by three percent (3%).
(b) The increases specified in this section:
(1) shall be based upon the date of the member's latest
retirement or disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.61-1989, SEC.1.
IC 5-10.2-5-20
Employees of institutions of higher learning
Sec. 20. (a) Notwithstanding the repeal of IC 5-10.2-2-5, a
member who:
(1) is an employee of a state educational institution; and
(2) began making contributions by payroll deduction under
IC 5-10.2-2-5 before January 1, 1989;
may continue to make contributions after June 30, 1989, as if
IC 5-10.2-2-5 had not been repealed. Such an institution may
continue to make additional contributions for members on whose
behalf additional contributions were being made before January 1,
1989.
(b) The employer may use contributions made under this section
and IC 5-10.2-2-5 to purchase an annuity from a retirement fund for
a member described in subsection (a) at any time before the member
retires.
(c) Interest shall be credited on contributions made under this
section and IC 5-10.2-2-5 as specified in IC 5-10.2-2-4.
(d) Nothing in this section or in the repeal of IC 5-10.2-2-5 may
be construed to affect in any way the ability of a state educational
institution to make contributions on behalf of its employees to a tax
deferred annuity under Section 403(b) of the Internal Revenue Code.
(e) A member who:
(1) has at least five (5) years of credited service;
(2) is an employee of a state educational institution; and
(3) is transferred from a position covered by the Indiana state
teachers' retirement fund or the Indiana public employees'
retirement fund to a position not covered by either of the funds;
shall continue to receive credit, for the determination of eligibility
for benefits only, for up to five (5) additional years of service with
the institution, subject to all the provisions of the retirement fund
law. The additional service credit and the salary in the non-covered
position shall not be included in the computation of benefits from the
retirement fund.
As added by P.L.55-1989, SEC.21. Amended by P.L.2-2007, SEC.94.
IC 5-10.2-5-21
Pension increases payable after June 30, 1990
Sec. 21. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after June 30, 1990, to a member or a
survivor or beneficiary of a member who retired or was disabled:
(1) before July 2, 1971, shall be increased by three percent
(3%);
(2) after July 1, 1971, and before July 2, 1976, shall be
increased by two percent (2%); and
(3) after July 1, 1976, and before July 2, 1983, shall be
increased by one percent (1%).
(b) In addition to the increase specified in subsection (a), the
pension portion (plus postretirement increases to the pension
portion), provided by employer contributions of the monthly benefit
payable after June 30, 1990, to a member or a survivor or beneficiary
of a member, who retired or was disabled before July 2, 1988, shall
be increased by two percent (2%).
As added by P.L.43-1990, SEC.1.
IC 5-10.2-5-22
Increases after June 30, 1994
Sec. 22. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after June 30, 1994, to a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund or a survivor or beneficiary of a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund who retired or was disabled:
(1) after July 1, 1987, and before July 2, 1992, shall be
increased by one percent (1%);
(2) after July 1, 1984, and before July 2, 1987, shall be
increased by two percent (2%); and
(3) before July 2, 1984, shall be increased by three percent
(3%).
(b) This subsection applies only to an increase payable to a
member of the Indiana teachers' retirement fund. The cost difference
between the monthly benefit payable before the increase required by
this section and the monthly benefit payable after the increase
required by this section after June 30, 1994, and before July 1, 1995,
shall be paid from the employer reserve fund for the Indiana state
teachers' retirement fund. After June 30, 1995, the difference shall be
paid from the state general fund.
(c) The increases specified in this section:
(1) shall be based upon the date of the member's latest
retirement or disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.27-1994, SEC.1.
IC 5-10.2-5-23
Pension increases payable after June 30, 1995
Sec. 23. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after June 30, 1995, to a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund or a survivor or beneficiary of a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund who retired or was disabled:
(1) before July 2, 1981, shall be increased by three and
one-tenth percent (3.1%); and
(2) after July 1, 1981, and before July 2, 1993, shall be
increased by one and one-half percent (1.5%).
(b) This subsection applies only to an increase payable to a
member of the Indiana state teachers' retirement fund. The cost
difference between the monthly benefit payable before the increase
required by this section and the monthly benefit payable after the
increase required by this section after June 30, 1995, and before July
1, 1996, shall be paid from the employer reserve fund for the Indiana
state teachers' retirement fund. After June 30, 1996, the difference
shall be paid from the state general fund.
(c) The increases specified in this section:
(1) shall be based upon the date of the member's latest
retirement or disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.68-1995, SEC.1.
IC 5-10.2-5-24
Pension increases payable after June 30, 1996
Sec. 24. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after June 30, 1996, to a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund or a survivor or beneficiary of a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund who retired or was disabled:
(1) before July 2, 1981, shall be increased by three and
one-tenth percent (3.1%); and
(2) after July 1, 1981, and before July 2, 1993, shall be
increased by one and one-half percent (1.5%).
(b) This subsection applies only to an increase payable to a
member of the Indiana state teachers' retirement fund. The cost
difference between the monthly benefit payable before the increase
required by this section and the monthly benefit payable after the
increase required by this section after June 30, 1996, and before July
1, 1997, shall be paid from the employer reserve fund for the Indiana
state teachers' retirement fund. After June 30, 1997, the difference
shall be paid from the state general fund.
(c) The increases specified in this section:
(1) shall be based upon the date of the member's latest
retirement or disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.68-1995, SEC.2.
IC 5-10.2-5-25
Increases after June 30, 1997
Sec. 25. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after June 30, 1997, to a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund or a survivor or beneficiary of a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund who retired or was disabled:
(1) after July 1, 1983, and before July 2, 1996, shall be
increased by two percent (2%);
(2) after July 1, 1975, and before July 2, 1983, shall be
increased by three percent (3%); and
(3) before July 2, 1975, shall be increased by four percent (4%).
(b) This subsection applies only to an increase payable to a
member of the Indiana teachers' retirement fund. The cost difference
between the monthly benefit payable before the increase required by
this section and the monthly benefit payable after the increase
required by this section after June 30, 1997, and before July 1, 1998,
shall be paid from the employer reserve fund for the Indiana state
teachers' retirement fund. After June 30, 1998, the difference shall be
paid from the state general fund.
(c) The increases specified in this section:
(1) shall be based upon the date of the member's latest
retirement or disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.44-1997, SEC.1.
IC 5-10.2-5-26
Pension increases payable after June 30, 1998
Sec. 26. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after June 30, 1998, to a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund or a survivor or beneficiary of a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund who retired or was disabled:
(1) after July 1, 1983, and before July 2, 1995, shall be
increased by two percent (2%);
(2) after July 1, 1975, and before July 2, 1983, shall be
increased by three percent (3%); and
(3) before July 2, 1975, shall be increased by four percent (4%).
(b) The increases specified in this section:
(1) shall be based upon the date of the member's latest
retirement or disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.45-1998, SEC.1.
IC 5-10.2-5-27
Pension increases payable after June 30, 1999
Sec. 27. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after June 30, 1999, to a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund (or to a survivor or beneficiary of a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund) who retired or was disabled:
(1) after July 1, 1990, and before July 2, 1995, shall be
increased by one and one-quarter percent (1.25%);
(2) after July 1, 1980, and before July 2, 1990, shall be
increased by two percent (2%);
(3) after July 1, 1970, and before July 2, 1980, shall be
increased by five percent (5%);
(4) after July 1, 1960, and before July 2, 1970, shall be
increased by seven percent (7%); and
(5) before July 2, 1960, shall be increased by nine percent (9%).
(b) The increases specified in this section:
(1) are based upon the date of the member's latest retirement or
disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.228-1999, SEC.1.
IC 5-10.2-5-28
Pension increases payable after June 30, 2000
Sec. 28. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after June 30, 2000, to a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund (or to a survivor or beneficiary of a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund) who retired or was disabled:
(1) after July 1, 1990, and before July 2, 1996, shall be
increased by one percent (1%);
(2) after July 1, 1980, and before July 2, 1990, shall be
increased by two percent (2%);
(3) after July 1, 1970, and before July 2, 1980, shall be
increased by five percent (5%);
(4) after July 1, 1960, and before July 2, 1970, shall be
increased by seven percent (7%); and
(5) before July 2, 1960, shall be increased by nine percent (9%).
(b) The increases specified in this section:
(1) are based upon the date of the member's latest retirement or
disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.228-1999, SEC.2.
IC 5-10.2-5-29
Minimum purchasing power of pension portion after June 30, 1999
Sec. 29. (a) In addition to any other cost of living provided under
this chapter, the pension portion (plus postretirement increases to the
pension portion) provided by employer contributions of the monthly
benefit payable after June 30, 1999, to a member of the public
employees' retirement fund or the Indiana state teachers' retirement
fund (or to a survivor or beneficiary of a member of the public
employees' retirement fund or the Indiana state teachers' retirement
fund) who retired or was disabled before July 2, 1960, shall be
increased by the amount necessary to ensure that the purchasing
power (as determined by the PERF or TRF board (as those boards
existed before their dissolution on July 1, 2011), based on changes
in the consumer price index and postretirement increases to the
pension portion) of the member's pension portion is at least equal to
fifty percent (50%) of the purchasing power of the member's pension
portion at the time the member retired, as determined on July 1,
1999.
(b) The increases specified in this section:
(1) are based upon the date of the member's latest retirement or
disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.228-1999, SEC.3. Amended by P.L.35-2012,
SEC.46.
IC 5-10.2-5-30
Minimum purchasing power of pension portion after June 30, 2000
Sec. 30. (a) In addition to any other cost of living provided under
this chapter, the pension portion (plus postretirement increases to the
pension portion) provided by employer contributions of the monthly
benefit payable after June 30, 2000, to a member of the public
employees' retirement fund or the Indiana state teachers' retirement
fund (or to a survivor or beneficiary of a member of the public
employees' retirement fund or the Indiana state teachers' retirement
fund) who retired or was disabled before July 2, 1975, shall be
increased by the amount necessary to ensure that the purchasing
power (as determined by the PERF or TRF board (as those boards
existed before their dissolution on July 1, 2011), based on changes
in the consumer price index and postretirement increases to the
pension portion) of the member's pension portion is at least equal to
fifty-seven and four-tenths percent (57.4%) of the purchasing power
of the member's pension portion at the time the member retired, as
determined on July 1, 2000.
(b) The increases specified in this section:
(1) are based upon the date of the member's latest retirement or
disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.228-1999, SEC.4. Amended by P.L.35-2012,
SEC.47.
IC 5-10.2-5-31
Pension increases payable after June 30, 2001
Sec. 31. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after June 30, 2001, to a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund (or to a survivor or beneficiary of a member of the
public employees' retirement fund or the Indiana state teachers'
retirement fund) who retired or was disabled before July 2, 1999,
shall be increased by one percent (1%).
(b) The increases specified in this section:
(1) are based upon the date of the member's latest retirement or
disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.285-2001, SEC.2.
IC 5-10.2-5-32
Repealed
(Repealed by P.L.2-2006, SEC.199.)
IC 5-10.2-5-33
Public employees' retirement fund; pension increases payable after
December 31, 2003
Sec. 33. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after December 31, 2003, 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
or was disabled before January 1, 2003, shall be increased by two
percent (2%).
(b) The monthly amount of the increase described in subsection
(a) payable to a member of the public employees' retirement fund (or
to a survivor or beneficiary of a member of the public employees'
retirement fund) may not be less than five dollars ($5).
(c) The increases specified in this section:
(1) are based upon the date of the member's latest retirement or
disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.190-2003, SEC.3.
IC 5-10.2-5-34
Repealed
(Repealed by P.L.12-2008, SEC.3.)
IC 5-10.2-5-34.4
Repealed
(Repealed by P.L.2-2006, SEC.199.)
IC 5-10.2-5-36
Public employees' retirement fund; pension increase payable after
December 31, 2004
Sec. 36. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after December 31, 2004, to a member of
the public employees' retirement fund (or to a survivor or beneficiary
of a member) who retired or was disabled before January 1, 2004,
shall be increased by two percent (2%).
(b) The monthly amount of the increase described in subsection
(a) payable to a member of the public employees' retirement fund (or
to a survivor or beneficiary of a member) may not be less than five
dollars ($5).
(c) The increases specified in this section:
(1) are based on the date of the member's latest retirement or
disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.56-2004, SEC.1.
IC 5-10.2-5-37
Repealed
(Repealed by P.L.2-2006, SEC.199.)
IC 5-10.2-5-38
Public employees' retirement fund; benefit increase payable after
December 31, 2005
Sec. 38. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after December 31, 2005, 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
or was disabled:
(1) before July 2, 1990, shall be increased by two percent (2%);
and
(2) after July 1, 1990, and before January 1, 2005, shall be
increased by one and one-half percent (1.5%).
(b) The increases specified in this section:
(1) are based on the date of the member's latest retirement or
disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.246-2005, SEC.51.
IC 5-10.2-5-39
Teachers' retirement fund; benefit increase payable after
December 31, 2005
Sec. 39. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after December 31, 2005, to a member of
the Indiana state teachers' retirement fund (or to a survivor or
beneficiary of a member of the Indiana state teachers' retirement
fund) who retired or was disabled:
(1) before July 2, 1990, shall be increased by two percent (2%);
and
(2) after July 1, 1990, and before July 2, 2003, shall be
increased by one percent (1%).
(b) The increases specified in this section:
(1) are based on the date of the member's latest retirement or
disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.246-2005, SEC.52.
IC 5-10.2-5-40
Public employees' retirement fund; benefit increase payable after
December 31, 2006
Sec. 40. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after December 31, 2006, 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
or was disabled before January 1, 2006, shall be increased by two
percent (2%).
(b) The increase specified in this section:
(1) is based on the date of the member's latest retirement or
disability;
(2) does not apply to benefits payable in a lump sum; and
(3) is in addition to any other increase provided by law.
As added by P.L.115-2006, SEC.1. Amended by P.L.1-2007, SEC.27.
IC 5-10.2-5-41
Teachers' retirement fund; benefit increase payable after
December 31, 2006
Sec. 41. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after December 31, 2006, to a member of
the Indiana state teachers' retirement fund (or to a survivor or
beneficiary of a member of the Indiana state teachers' retirement
fund) who retired or was disabled:
(1) before July 2, 1991, shall be increased by two percent (2%);
and
(2) after July 1, 1991, and before July 2, 2004, shall be
increased by one percent (1%).
(b) The increases specified in this section:
(1) are based on the date of the member's latest retirement or
disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.115-2006, SEC.2.
IC 5-10.2-5-42
Teachers' retirement fund; cost of living increase payable after
December 31, 2007
Sec. 42. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after December 31, 2007, to a member of
the Indiana state teachers' retirement fund (or to a survivor or
beneficiary of a member of the Indiana state teachers' retirement
fund) who retired or was disabled:
(1) before July 2, 1999, shall be increased by two percent (2%);
and
(2) after July 1, 1999, and before July 2, 2005, shall be
increased by one percent (1%).
(b) The increases specified in this section:
(1) are based upon the date of the member's latest retirement or
disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.87-2007, SEC.1.
IC 5-10.2-5-42.4
Public employees' retirement fund; increase payable after
December 31, 2007
Sec. 42.4. (a) The pension portion (plus postretirement increases
to the pension portion) provided by employer contributions of the
monthly benefit payable after December 31, 2007, 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
or was disabled before January 1, 2007, shall be increased by two
percent (2%).
(b) The increases specified in this section:
(1) are based on the date of the member's latest retirement or
disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.163-2007, SEC.1.
IC 5-10.2-5-43
Public employees' retirement fund; benefit increase payable after
December 31, 2008
Sec. 43. (a) The pension portion (plus postretirement increases to
the pension portion) provided by employer contributions of the
monthly benefit payable after December 31, 2008, 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
or was disabled before January 1, 2008, shall be increased by:
(1) two percent (2%) for members who retired after December
31, 1999; and
(2) two and one-half (2.5%) percent for members who retired
before January 1, 2000.
(b) In addition to any other cost of living increase provided under
this chapter, the pension portion (plus postretirement increases to the
pension portion) provided by employer contributions of the monthly
benefit payable after December 31, 2008, 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 is a retired
member of the fund with at least ten (10) years of creditable service
may not be less than one hundred eighty dollars ($180).
(c) Subsection (b) does not apply to a member of the public
employees' retirement fund (or to a survivor or beneficiary of a
member of the public employees' retirement fund) whose creditable
service was earned only as an elected official.
(d) The increases specified in this section:
(1) are based on the date of the member's latest retirement or
disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.12-2008, SEC.1.
IC 5-10.2-5-43.4
Teachers' retirement fund; benefit increase payable after
December 31, 2008
Sec. 43.4. (a) The pension portion (plus postretirement increases
to the pension portion) provided by employer contributions of the
monthly benefit payable after December 31, 2008, to a member of
the Indiana state teachers' retirement fund (or to a survivor or
beneficiary of a member of the Indiana state teachers' retirement
fund) who retired or was disabled:
(1) before July 2, 2000, shall be increased by two percent (2%);
and
(2) after July 1, 2000, and before July 2, 2006, shall be
increased by one percent (1%).
(b) The increases specified in this section:
(1) are based upon the date of the member's latest retirement or
disability;
(2) do not apply to benefits payable in a lump sum; and
(3) are in addition to any other increase provided by law.
As added by P.L.124-2008, SEC.3.
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