HB 1173 Summary

• Amends Indiana unemployment insurance law to modify when pension, retirement, or annuity payments from a base period employer are deductible from weekly unemployment benefits.

• Pension/retirement payments are deductible only if both conditions are met: (1) benefits are chargeable to the employer's experience or reimbursable account, and (2) services performed after the base period began affect the individual's eligibility or benefit amount.

• Excludes federal Social Security benefits (old age, survivors, disability insurance) and rollover distributions not included in federal taxable income from being deductible pension payments.

• Allows individuals to delay retirement benefit claims until after receiving all eligible unemployment benefits, with no reduction in unemployment benefits received before the retirement election date.

• Effective July 1, 2010.