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Judges' pensions. Allows a person serving as a full-time magistrate on July 1, 2004, and requires a person who begins serving as a full-time magistrate after that date, to become a participant in the judges' 1985 benefit system. Allows magistrates who are participants in the judges' 1985 benefit system to purchase, at full actuarial cost, service credit for prior service covered by an Indiana public employees' retirement fund. Increases the monthly benefit payable to participants, survivors, and beneficiaries of the judges' 1985 benefit system by the same percentages and under the same conditions as the monthly benefit is increased for members of the public employees' retirement fund (PERF). (The introduced version of this bill was prepared by the pension management oversight commission.)
