HEA 1080 Summary

• Indiana state teachers' retirement fund members who retired or were disabled by December 1, 2012 receive one-time payments by October 1, 2013 ranging from $150-$450 based on creditable service years

• Public employees' retirement fund members meeting the same retirement/disability and benefit eligibility criteria receive identical one-time payments of $150-$450 by October 1, 2013

• State excise police, gaming agents, gaming control officers, and conservation enforcement officers' retirement plan participants receive one-time payments ranging from $125-$400 by October 1, 2013 based on creditable service

• State police 1987 benefit system employees who retired or were disabled between June 30, 1987 and July 1, 2012 receive one-time payments equal to one percent of the maximum basic annual pension for a trooper with 25 years of service

• All one-time payments are explicitly not increases to regular monthly pension benefits and all sections expire January 1, 2014