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Indiana Code Title 5. State and Local Administration § 5-10.2-12-4

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 4. (a) In each even-numbered calendar year, beginning in 2018, the board shall present to the interim study committee on pension management oversight (established by IC 2-5-1.3-4) an actuarial report concerning the status of each supplemental allowance reserve account.

(b) The general assembly may grant a postretirement benefit increase, thirteenth check, or other benefit change or adjustment for members of or participants in a fund or plan listed in section 1 of this chapter only:

(1) in an odd-numbered calendar year;  and

(2) if the postretirement benefit increase, thirteenth check, or other benefit change or adjustment:

(A) may be funded from the uncommitted balance in the supplemental allowance reserve account of the particular fund or plan;  and

(B) may be paid in the same amount or percentage, or by using the same formula or computation method, to members of or participants in each of the funds and plans listed in section 1 of this chapter.

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Cite this article: FindLaw.com - Indiana Code Title 5. State and Local Administration § 5-10.2-12-4 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-5-state-and-local-administration/in-code-sect-5-10-2-12-4/

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