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IN SB0047
Bill
AI Summary
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Permits participants, survivors, and beneficiaries receiving monthly pension benefits under IC 5-10-5.5 to authorize deductions from their monthly benefit payments after June 30, 2017.
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Authorization requires written consent signed by the benefit recipient, board agreement in writing, and delivery of executed copy to the board within 10 days of execution.
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Allows deductions for premiums on life, medical, surgical, hospitalization, dental, vision, long-term care, or Medicare supplement insurance offered to retired participants by former employers, the state, or the board.
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Permits deductions for pledges or contributions to charitable or nonprofit organizations and dues payable to labor organizations of which the individual is a member.
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Authorization is revocable at any time upon written notice to the board by the benefit recipient.
Legislative Description
C and E fund deductions from retirement benefits. Allows a participant in the state excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement plan (C and E fund) to authorize a deduction from the participant's monthly retirement benefit for the purpose of paying insurance premiums, charitable contributions, or labor organization dues.
Last Action
Public Law 41
4/13/2017