IN SB0439

Grants up to 6 years of service credit in the Indiana Teachers' Retirement Fund for members with at least 10 years of in-state teaching service who served on active duty, received an honorable discharge, and do not receive a military pension or qualify for military credit under existing provisions

Creates up to 6 years of service credit in the 1977 Police Officers' and Firefighters' Pension and Disability Fund for members who served at least 6 months on active duty, received an honorable discharge, and are not receiving benefits from another military or governmental retirement system

Police and firefighter members must pay the contributions they would have made during their active duty service, either as a lump sum or in up to 5 annual payments, with employers contributing additional amounts to amortize the liability over up to 10 years

World War II veterans may use the service credit for benefits paid after June 30, 2013, while all other eligible members may use the credit only for benefits paid after June 30, 2015

Effective date of July 1, 2013, applying to both current retirees and those who retire after that date