Skip to main content

Introduced House Bill (H)

DIGEST

Public employee pensions. Provides that a member of the public employees' retirement fund (PERF) or the Indiana state teachers' retirement fund (TRF) who first performs creditable service after June 30, 2019, is eligible for normal retirement if: (1) the member is at least 65 years of age and has at least 20 years of creditable service (current law requires at least 10 years of creditable service); (2) the member is at least 60 years of age and has at least 25 years of creditable service (current law requires at least 15 years of creditable service); or (3) the member is Public employee pensions. Provides that a member of the public employees' retirement fund (PERF) or the Indiana state teachers' retirement fund (TRF) who first performs creditable service after June 30, 2019, is eligible for normal retirement if: (1) the member is at least 65 years of age and has at least 20 years of creditable service (current law requires at least 10 years of creditable service); (2) the member is at least 60 years of age and has at least 25 years of creditable service (current law requires at least 15 years of creditable service); or (3) the member is at least 55 years of age and the member's age plus years of creditable service is at least 95 (current law requires the member's age plus years of creditable service be at least 85). Provides that after June 30, 2019, an individual who becomes a full-time employee of the state for the first time becomes a member of the public employees' defined contribution plan (plan) unless the individual elects to become a member of PERF. (Under current law, an eligible employee becomes a member of PERF unless the employee elects to become a member of the plan.) Provides that after June 30, 2019, an individual who begins employment for the first time in a covered position with a school corporation and is not already a member of TRF becomes a member of the teachers' defined contribution plan unless the individual makes an election to become a member of TRF. (Under current law, an individual who begins employment in a covered position becomes a member of TRF unless the individual elects to become a member of the teachers' defined contribution plan.) ... View more