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House Bill 1815


House Bill 1815

ARCHIVE (2001)

Latest Information

 

DIGEST OF HB 1815 (Updated April 29, 2001 6:22 PM - DI 44)


Public pensions. Provides a 1% cost of living adjustment (COLA) in 2001 to members of the public employees' retirement fund (PERF) and members of the Indiana state teachers' retirement fund (TRF) (or their survivors or beneficiaries) who retired or were disabled before July 2, 1999. Provides a supplemental "thirteenth check" benefit to retired teachers and certain retired public employees (or their survivors or beneficiaries) on November 1, 2001, and on November 1, 2002. Provides that a member of PERF or TRF may change the allocation among available funds of the amount credited to the member's annuity savings account under rules established by the PERF board and the TRF board. Specifies that the PERF board and TRF board shall allow a member to make a selection or change any existing selection at least once each quarter. (Current law provides that the allocation may be changed only one time every 12 months.) Increases the percentages used in computing retirement benefits under the prosecuting attorneys retirement fund.
Current Status:
 Law Enacted
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