Indiana § 36-8-8-15 - Cost of living adjustment
Full text of Indiana Indiana Code § 36-8-8-15 — Cost of living adjustment, with citation guidance and answers to common questions.
§ 36-8-8-15. Cost of living adjustment
Sec. 15. Each year the system board shall determine if there has been an increase or decrease in the consumer price index (United States city average) prepared by the United States Department of Labor by comparing the arithmetic mean of the consumer price index for January, February, and March of that year with the arithmetic mean for the same three (3) months of the preceding year. If there has been an increase, or a decrease, it shall be stated as a percentage of the arithmetic mean for the preceding three (3) month period. The percentage shall be rounded to the nearest one-tenth of one percent (0.1%) and may not exceed three percent (3%). If there is a percentage increase of the arithmetic mean for the preceding three (3) month period, a fund member's or survivor's monthly benefit, beginning with the July payment, shall be increased by an amount equal to the June payment times the percentage increase. However, a fund member's or survivor's monthly benefit may not be increased under this section until July of the year following the year of the first monthly benefit payment to the fund member or survivor. In computing a fund member's benefit, the increase is based only on those years for which the fund member was eligible for benefit payments under this chapter. A monthly benefit may not be reduced if there is a percentage decrease of the arithmetic mean for the preceding three (3) month period.
[Pre-Local Government Recodification Citations: 19-1-17.8-13; 19-1-36.5-13.]
As added by Acts 1981, P.L.309, SEC.59. Amended by P.L.99-2010, SEC.13; P.L.35-2012, SEC.134.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-8-8-15
What does Indiana Code § 36-8-8-15 cover?
Section 36-8-8-15 ("Cost of living adjustment") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 36-8-8-15?
A common citation format is "Indiana Code § 36-8-8-15" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 36-8-8-15 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.