Current as of June 08, 2021 | Updated by FindLaw Staff
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Sec. 40. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after December 31, 2006, to a member of the public employees' retirement fund (or to a survivor or beneficiary of a member of the public employees' retirement fund) who retired or was disabled before January 1, 2006, shall be increased by two percent (2%).
(b) The increase specified in this section:
(1) is based on the date of the member's latest retirement or disability;
(2) does not apply to benefits payable in a lump sum; and
(3) is in addition to any other increase provided by law.
Cite this article: FindLaw.com - Indiana Code Title 5. State and Local Administration § 5-10.2-5-40 - last updated June 08, 2021 | https://codes.findlaw.com/in/title-5-state-and-local-administration/in-code-sect-5-10-2-5-40/
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