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IN SB0263
Bill
Status
Introduced
1/11/2010
Primary Sponsor
Timothy Skinner
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AI Summary
- Establishes a minimum $500 monthly pension benefit for Indiana State Teachers' Retirement Fund members who retired before January 1, 1979, and have at least 20 years of creditable service
- Applies to the pension portion funded by employer or state contributions, including postretirement increases
- Takes effect January 1, 2011, for benefits payable after December 31, 2010
- Extends to survivors or beneficiaries of qualifying retired members
- Does not apply to lump sum benefit payments and is in addition to any other cost of living increases provided by law
Legislative Description
Retirement benefit adjustment.
Last Action
First reading: referred to Committee on Pensions and Labor
1/11/2010
Full Bill Text
No bill text available