Indiana § 10-12-4-10 - Benefit increase payable after June 30, 2008

§ 10-12-4-10. Benefit increase payable after June 30, 2008

Sec. 10. (a) The basic monthly pension amount (plus postretirement increases) payable after June 30, 2008, to an employee beneficiary of the state police 1987 benefit system who retired or was disabled after June 30, 1987, and before July 2, 2006, shall be increased by one percent (1%) of the maximum basic monthly pension amount payable to a retired state police employee in the grade of trooper who has completed twenty-five (25) years of service as of July 1, 2007, as calculated under section 7 of this chapter.

(b) The increases specified in this section:

(1) shall be based on the date of the employee beneficiary's latest retirement or disability;

(2) do not apply to the benefits payable in a lump sum; and

(3) are in addition to any other increase provided by law.

As added by P.L.189-2007, SEC.3.

IC 10-12-5Chapter 5. Supplemental Pension Benefits

10-12-5-0.3Application of certain amendments to chapter; reduction of recomputed supplemental benefit 10-12-5-1Intent of chapter 10-12-5-2Eligibility 10-12-5-3Administration; schedule of benefits; benefit calculation 10-12-5-4Incentive increases 10-12-5-5Pension advisory board meetings; benefit funding 10-12-5-6Treasurer of state; trustee of account 10-12-5-7Time of payment