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Senate Bill 0107


Senate Bill 0107

ARCHIVE (2001)

Latest Information

 

DIGEST OF SB107 (Updated April 5, 2001 12:23 PM - DI 84)


Public pensions. Provides that a member of the board of trustees of the public employees' retirement fund (PERF) or the Indiana state teachers' retirement fund (TRF) may participate in a meeting of the board using any means of communication that permits all other board members and the public to simultaneously communicate with each other during the meeting. Provides that PERF and TRF fund records of individual members and membership information shall be treated as confidential, except for the name and years of service of a fund member. Specifies that the additional annuity savings account contributions that may be made by a PERF member or a TRF member may not exceed 10% of the member's compensation. Adds emergency medical services providers employed by political subdivision and not otherwise eligible for a special death benefit to the definition of "public safety officer" for the purpose of providing a special death benefit . Reimposes an annual earnings limit on a retired member (other than an employee of the department of education) of the public employees' retirement fund (PERF) or the Indiana state teachers' retirement fund (TRF) who has not attained the Social Security normal retirement age for unreduced benefits. Provides that if such a retired member is reemployed in a position covered by PERF or TRF and earns more than $25,000 in a year, the member's retirement benefit is suspended. Provides that a retired member who has attained normal retirement age for unreduced benefits may be reemployed in a covered position without a suspension of retirement benefits. Provides that the member is entitled to an additional retirement benefit for the period of reemployment. Provides that a governing body of a unit that is participating in PERF is not required to request a survey of the estimated cost of participation, and the PERF board is not required to provide an estimate of the costs of participation, when the unit adopts a resolution or ordinance providing that additional classifications of employees will become members of the fund and the actuary for the fund finds there would be no material change in the current or continued employer contribution rate for that unit because of the additional classification. Permits a PERF or TRF fund member to direct that the member's retirement benefits be paid to a revocable trust. Specifies that, in the case of PERF members other than state employees, an employer may pay all or a part of the annuity savings account contribution for the employees. (Current law authorizes a PERF employer other than the state to pay either none or all of the contribution but does not allow for partial payment.) Provides that persons employed by TRF are members of TRF. Provides that even if a firefighter is 36 years of age or older, the firefighter may be reappointed as a member of a department if the firefighter: can complete 20 years of service before reaching 60 years of age. Provides that a member of the police or fire department may be reappointed to the department if the person is a retired member not yet receiving retirement benefits under the 1925, 1937, 1953, or 1977 fund. Provides that a fire chief or police chief who is appointed under certain waiver provisions and who is receiving, or is entitled to receive, benefits from the 1925, 1937, 1953, or 1977 fund may receive those benefits while serving as chief. Provides that one member of the PERF board must be a member of a collective bargaining unit of state employees represented by a labor organization or an officer of a local, national, or international labor union that represents state employees. Provides that a park ranger employed in Evansville who attended a law enforcement academy outside Indiana is a member of the 1977 pension fund. (Current law provides that a park ranger in Evansville is a member of the fund only if the park ranger attended the Indiana law enforcement academy.) Provides that a member of TRF who served in the military but is not entitled to military service credit under the TRF law shall be granted credit for the military service if the member received a letter or other notice from the executive director of TRF, after 1960 and before 1965, erroneously stating that the member was eligible to receive service credit for the military service. Requires the member to file an application with TRF before December 31, 2001, to claim the service credit. Corrects cross-references to provisions related to police and firefighter disability benefits. (The introduced version of this bill was prepared by the pension management oversight commission.)
    Current Status:
     Law Enacted
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