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IN SB0202
Bill
Status
Introduced
1/9/2014
Primary Sponsor
Timothy Skinner
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AI Summary
- Amends Indiana Code IC 5-10.4-6-11 to establish a minimum monthly pension benefit of $500 for Teachers' Retirement Fund (TRF) members
- Applies to members who retired before January 1, 1980, and have at least 20 years of creditable service
- Minimum applies to pension portion funded by employer or state contributions, including any postretirement increases, for benefits paid after December 31, 2014
- Increases are in addition to any other cost of living adjustments or increases provided by law
- Does not apply to lump sum benefit payments and is based on the member's latest retirement date
- Effective July 1, 2014
Legislative Description
TRF retirement benefit adjustment.
Last Action
First Reading: Referred to Pensions and Labor
1/9/2014
Committee Referrals
Pensions and Labor1/9/2014
Full Bill Text
No bill text available