HEA 1537 Summary

• Indiana state teachers' retirement fund members and public employees' retirement fund members who retired or were disabled by December 1, 2016 receive one-time payments by October 1, 2017 ranging from $150 to $450 based on creditable service years, with a second payment made by October 1, 2018 for those retired or disabled by December 1, 2017.

• Payment amounts for teachers and public employees are: $150 for 5-10 years of service (disability only), $275 for 10-20 years, $375 for 20-30 years, and $450 for 30+ years.

• State excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement plan participants receive the same tiered payment structure on the same schedule as teachers and public employees.

• State police pre-1987 and 1987 benefit system retirees receive one-time payments equal to 1% of the maximum basic annual pension for a trooper with 20-25 years of service, paid in October 2017 and October 2018 for eligible beneficiaries.

• All payments are explicitly not increases to pension benefits and funded only after state budget appropriations are exhausted; all provisions expire January 1, 2019.