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IN HB1123

Bill

Official Source

Status

Introduced

1/7/2016

Primary Sponsor

Charlie Brown

Click for details

Origin

House of Representatives

2016 Regular Session

AI Summary

  • Increases the "look back period" for Public Employees' Retirement Fund (PERF) members from 6 months to 12 months when choosing a retroactive retirement date
  • Applies only to PERF members who retire after June 30, 2016; earlier retirees and Indiana State Teachers' Retirement Fund members retain the 6-month look back period
  • Allows members to select a retirement date up to 12 months before submitting their application to the retirement board, provided the date is the first day of a month
  • Maintains exception for incompetent members, allowing them to choose any first-of-month date after becoming incompetent, regardless of the look back period
  • Effective date: July 1, 2016

Legislative Description

Look back period for payment of PERF benefits. Increases from six months to 12 months the look back period for paying retirement benefits to members of the public employees' retirement fund.

Last Action

First reading: referred to Committee on Employment, Labor and Pensions

1/7/2016

Committee Referrals

Employment, Labor and Pensions1/7/2016

Full Bill Text

No bill text available