Sec. 23. (a) This section applies to a county that adopts the provisions of this section by an ordinance of the county fiscal body.

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Terms Used In Indiana Code 36-8-10-23

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Department: refers to the sheriff's department of a county. See Indiana Code 36-8-10-2
  • Month: means a calendar month, unless otherwise expressed. See Indiana Code 1-1-4-5
  • Pension engineers: means technical consultants qualified to supervise and assist in the establishment, maintenance, and operation of a pension trust on an actuarially sound basis. See Indiana Code 36-8-10-2
  • Statute: A law passed by a legislature.
  • Trust fund: means the assets of the pension trust and consists of voluntary contributions from the department, money paid from the wages of employee beneficiaries, and other payments or contributions made to the pension trust, including the income and proceeds derived from the investment of them. See Indiana Code 36-8-10-2
  • United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
     (b) The county fiscal body may provide for:

(1) an annual cost of living payment to employee beneficiaries who are retired or have a disability, or both; or

(2) an ad hoc cost of living payment to employee beneficiaries who are retired or have a disability, or both. The amount of the ad hoc cost of living payment under this subdivision is not an increase in the base pension benefit calculated under section 12 or 12.1 of this chapter.

     (c) In addition to, or instead of, a modification of a surviving spouse’s monthly pension under section 16 of this chapter, the county fiscal body may provide for:

(1) an annual cost of living payment to a surviving spouse; or

(2) an ad hoc cost of living payment to a surviving spouse.

     (d) In the case of an annual cost of living payment granted under subsection (b)(1) or (c)(1), the amount of the cost of living payment shall be determined each year by the pension engineers under this subsection. The pension engineers shall determine if there has been an increase in the Consumer Price Index (United States city average) prepared by the United States Department of Labor by comparing the arithmetic mean of the Consumer Price Index for January, February, and March of the payment year with the same three (3) month period of the preceding year. If there has been an increase, the increase shall be stated as a percentage of the arithmetic mean for the three (3) month period for the year preceding the payment year (the adjustment percentage). The adjustment percentage shall be rounded to the nearest one-tenth of one percent (0.1%) and may not exceed three percent (3%).

     (e) In the case of a cost of living payment granted under subsection (b)(2) or (c)(2), the amount of the cost of living payment shall be determined by the county fiscal body and may be:

(1) a percentage increase, not to exceed the percentage determined under subsection (d); or

(2) a fixed dollar amount.

     (f) A payment authorized under this section shall be made to each:

(1) authorized employee beneficiary who is retired or has a disability; or

(2) surviving spouse;

and may be made annually, semiannually, quarterly, or monthly.

     (g) A cost of living payment granted under this section shall be funded by a direct appropriation or by maintaining a fully funded actuarially sound trust fund.

     (h) A cost of living payment granted under this section is applicable only to the following:

(1) Employee beneficiaries who:

(A) are retired or have a disability; and

(B) are at least fifty-five (55) years of age.

(2) A surviving spouse.

     (i) No provision of this section shall be made part of any ordinance or agreement concerning collective bargaining. No provision of this section shall be subject to bargaining under any statute, ordinance, or agreement.

As added by P.L.150-1992, SEC.1. Amended by P.L.1-1993, SEC.248; P.L.233-1997, SEC.3; P.L.99-2007, SEC.222; P.L.42-2008, SEC.2.

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