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5-10.2-5-26. Pension increases payable after June 30, 1998

IN Code § 5-10.2-5-26 (2019) (N/A)
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Sec. 26. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after June 30, 1998, to a member of the public employees' retirement fund or the Indiana state teachers' retirement fund or a survivor or beneficiary of a member of the public employees' retirement fund or the Indiana state teachers' retirement fund who retired or was disabled:

(1) after July 1, 1983, and before July 2, 1995, shall be increased by two percent (2%);

(2) after July 1, 1975, and before July 2, 1983, shall be increased by three percent (3%); and

(3) before July 2, 1975, shall be increased by four percent (4%).

(b) The increases specified in this section:

(1) shall be based upon the date of the member's latest retirement or disability;

(2) do not apply to benefits payable in a lump sum; and

(3) are in addition to any other increase provided by law.

As added by P.L.45-1998, SEC.1.

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5-10.2-5-27. Pension increases payable after June 30, 1999