Senate Bill 279 Summary

• Provides a one-time thirteenth check payment to Indiana State Teachers' Retirement Fund (TRF) and Public Employees' Retirement Fund (PERF) members, survivors, and beneficiaries who retired or became disabled on or before December 1, 2011.

• Payment amounts range from $150 to $550 based on creditable service: $150 for disability recipients with 5-10 years, $375 for 10-20 years, $475 for 20-30 years, and $550 for 30+ years of creditable service.

• Payments must be distributed by October 1, 2012, and are not considered an increase to the monthly pension benefit.

• Multiple survivors or beneficiaries receive allocations based on the same percentages used for their regular monthly benefit payments.

• Both sections become effective July 1, 2012, and expire January 1, 2013.