Sec. 1. This chapter applies to the supplemental allowance reserve accounts established under the following: (1) IC 2-3.5-3-2(c) (for the legislators’ defined benefit plan). (2) IC 5-10-5.5-4(c) (for the state excise police, gaming agent, gaming control officer, and conservation enforcement officers’ retirement plan). (3) IC 5-10.2-2-2(a)(3) (for the public employees’ retirement fund). (4) IC 5-10.2-2-2(c)(3) […]
Sec. 2. All amounts in a supplemental allowance reserve account of a fund or plan are available to the board to pay a postretirement benefit increase, thirteenth check, or other benefit change or adjustment granted by the general assembly after June 30, 2018, to members of or participants in that fund or plan. As added […]
Sec. 3. (a) For 2019 and each year thereafter, the contribution rate established by the board for each employer shall include a surcharge determined by the board: (1) that is paid to the supplemental allowance reserve account of the applicable fund or plan; and (2) that does not exceed one percent (1%) of the employer’s […]
Sec. 4. (a) In each even-numbered calendar year, beginning in 2018, the board shall present to the interim study committee on pension management oversight (established by IC 2-5-1.3-4) an actuarial report concerning the status of each supplemental allowance reserve account. (b) The general assembly may grant a postretirement benefit increase, thirteenth check, or other benefit […]
