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2-3.5-4-4.1. Monthly retirement benefit; conditions

IN Code § 2-3.5-4-4.1 (2019) (N/A)
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Sec. 4.1. (a) This section applies to a participant who:

(1) is at least fifty-five (55) years of age and whose years of service as a member of the general assembly plus years of age are equal to at least eighty-five (85); or

(2) is at least sixty (60) years of age and has at least fifteen (15) years of service as a member of the general assembly.

(b) A participant who is described in subsection (a) is entitled, for the remainder of the participant's life, to a monthly retirement benefit calculated under section 3 of this chapter, if all of the following conditions are met on the date on which the benefit begins:

(1) The participant's service as a member of the general assembly is terminated.

(2) The participant has at least ten (10) years of service as a member of the general assembly.

(3) The participant is not receiving and is not entitled to receive a salary from the state.

(c) A participant who receives a benefit under this section is not entitled to a benefit under section 4 of this chapter.

As added by P.L.10-1995, SEC.1. Amended by P.L.13-2001, SEC.3.

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