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Indiana Code Title 5. State and Local Administration § 5-10.2-5-8

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

Sec. 8. Postretirement Increase.  The monthly benefit payable on and after July 1, 1980, to a member, or a survivor or beneficiary of a member, who retired or was disabled:

(1) before July 2, 1963, shall be increased by nine percent (9%);

(2) after July 1, 1963, and before July 2, 1968, shall be increased by six percent (6%);  and

(3) after July 1, 1968, and before July 2, 1973, shall be increased by three percent (3%).

The increase specified in this section shall be based upon the date of the member's initial retirement or disability.  This section does not apply to benefits payable in a lump sum.  The increases provided by this section are in addition to any other increase provided by law.

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Cite this article: FindLaw.com - Indiana Code Title 5. State and Local Administration § 5-10.2-5-8 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-5-state-and-local-administration/in-code-sect-5-10-2-5-8/

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