Bill Text: IN SB0073 | 2011 | Regular Session | Amended
Bill Title: Thirteenth check.
Spectrum: Bipartisan Bill
Status: (Engrossed - Dead) 2011-03-30 - Representative Gutwein added as cosponsor [SB0073 Detail]
Download: Indiana-2011-SB0073-Amended.html
Citations Affected: Noncode.
Synopsis: Thirteenth check. Provides a thirteenth check to participants
of the state excise police, gaming agent, gaming control officer, and
conservation enforcement officers' retirement plan (plan). Provides that
the thirteenth check is to be paid, not later than July 1, 2011, to a plan
participant (or to a survivor or beneficiary of a plan participant) who
retired or was disabled on or before December 1, 2009, and who was
entitled to receive a monthly benefit on July 1, 2010. (The introduced
version of this bill was prepared by the pension management oversight
commission.)
Effective: Upon passage.
January 5, 2011, read first time and referred to Committee on Pensions and Labor.
January 12, 2011, amended, reported favorably _ Do Pass; reassigned to Committee on
Appropriations.
February 3, 2011, reported favorably _ Do Pass.
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
A BILL FOR AN ACT concerning pensions.
(b) As used in this SECTION, "plan" refers to the state excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement plan established by IC 5-10-5.5-2.
(c) Not later than July 1, 2011, the board of trustees of the public employees' retirement fund shall pay the amount determined under subsection (d) to a plan participant (or to a survivor or beneficiary of a plan participant) who retired or was disabled on or before December 1, 2009, and who was entitled to receive a monthly benefit on July 1, 2010. The amount is not an increase in the annual retirement allowance.
(d) The amount paid under this SECTION to a plan participant (or to a survivor or beneficiary of a plan participant) who meets the requirements of subsection (c) is determined as follows:
If a Plan Participant's Creditable The Amount Is
Service Is:
Less than ten (10) years $125
(only in the case of a plan participant
receiving disability retirement benefits)
At least ten (10) years,
but less than twenty (20) years $235
At least twenty (20) years,
but less than thirty (30) years $325
At least thirty (30) years $400
(e) The creditable service used to determine the amount paid to a plan participant (or a survivor or beneficiary of a plan participant) under this SECTION is the creditable service that was used to compute the plan participant's retirement allowance under IC 5-10-5.5-10 and IC 5-10-5.5-12 except that partial years of creditable service may not be used to determine the amount paid under this SECTION.
(f) This SECTION expires January 1, 2012.
