IN SB0128

Amends IC 5-11-4-3.6 to change terminology from "Indiana state teachers' retirement fund" to "public retirement system" and specifies that examination costs are paid from public pension and retirement funds administered by the system in accordance with IC 5-10.5-6-5, effective July 1, 2012

Directs the General Assembly to urge the legislative council to assign the pension management oversight commission to study reporting systems for state and political subdivision retirement plans, including operating and financial condition reports

Requires the commission to study what information retirement plans should report, which entities should receive and analyze reports, and anticipated administrative costs and funding mechanisms for the reporting system

Mandates the commission issue a final report with findings and recommendations to the legislative council in electronic format no later than November 1, 2012

Excludes public pension and retirement funds managed by the Indiana public retirement system established by IC 5-10.5-2-1 from the commission's study requirements; Section 2 expires December 31, 2012