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IN SB0601

Bill

Official Source

Status

Introduced

1/20/2011

Primary Sponsor

Timothy Skinner

Click for details

Origin

Senate

2011 Regular Session

AI Summary

  • Establishes a minimum monthly pension benefit of $500 for Indiana Teachers' Retirement Fund (TRF) members who retired before January 1, 1979, and have at least 20 years of creditable service.
  • Minimum benefit applies to the pension portion plus any postretirement increases funded by employer or state contributions, effective after December 31, 2011.
  • Minimum benefit increases are based on the member's retirement date and apply in addition to any other cost of living increases or benefits provided by law.
  • Excludes lump sum benefit payments from the minimum benefit requirement.
  • Effective January 1, 2012.

Legislative Description

Retirement benefit adjustment.

Last Action

First reading: referred to Committee on Pensions and Labor

1/20/2011

Full Bill Text

No bill text available