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House Bill 1123


House Bill 1123

ARCHIVE (2012)

Latest Information

 

DIGEST OF HB 1123 (Updated March 9, 2012 1:11 pm - DI 102)


Public pensions. Provides that not later than December 1 each year, the office of management and budget shall submit to the state budget committee the following: (1) A report prepared by the office of management and budget concerning post-employment benefits and liabilities of state agencies. (2) Reports prepared by state educational institutions concerning post-employment benefits and liabilities of those institutions. Permits trust funds to be established to provide for prefunding annual required contributions to retirement funds and to cover other post-employment benefit liability for employees of the legislative, judicial, and executive departments, including employees of the state police department, conservation officers of the department of natural resources, and the state excise police. Provides that any modification to: (1) eligibility requirements; (2) required premiums; or (3) any other plan provisions; that increases the amount of the state's contribution to a plan of self-insurance established for the state police department, conservation officers of the department of natural resources, or the state excise police or that increases the post-employment liability under such a plan may not be made unless the modification is first approved by the budget agency. Provides for an annual review of the modifications by the state budget committee. Provides for a thirteenth check to certain members of the: (1) Indiana state teachers' retirement fund (TRF); (2) public employees' retirement fund; (3) state excise police, gaming agent, gaming control officer, and conservation officers' retirement fund; and (4) state police 1987 benefit system. Makes a state general fund appropriation for the state fiscal year beginning July 1, 2012, to cover the one-time thirteenth check for TRF retirees.
Current Status:
 Law Enacted
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