Magistrates' pensions. Allows a person serving as a full-time magistrate on July 1, 2003, and requires a person who begins serving as a full-time magistrate after July 1, 2003, to become a participant in the judges' 1985 benefit system (1985 benefit system). Allows magistrates who are participants in the 1985 benefit system to purchase, at full actuarial cost, service credit for prior service as a full-time commissioner, magistrate, or referee, or for prior service in other Indiana public employees' retirement fund positions. (The introduced version of this bill was prepared by the pension management oversight commission.)
