IN SB0298

Establishes the Indiana Public Retirement System on May 1, 2010, consolidating ten separate public pension and retirement funds under a single board of trustees with an 11-member governance structure (ten appointed by governor, one ex officio from budget agency director).

Creates requirement for all trustees to complete at least 12 hours of trustee education annually across six designated areas including fiduciary duties, ethics, governance, retirement plan design, investments, and actuarial principles.

Abolishes the Indiana Tobacco Use Prevention and Cessation Executive Board on July 1, 2010, transferring all assets, obligations, and appropriations to the state department of health.

Increases the maximum project cost threshold for department of correction to use inmate or employee labor from $100,000 to $500,000 without competitive bidding.

Permits flexible scheduling of meat and poultry inspections, eliminates Alzheimer's disease program requirements, removes spending limitations on hunting/fishing trust fund land purchases, and allows electronic contract approvals using simplified click-through methods.