Sec. 11. 1982 Postretirement Increases. (a) The monthly benefit payable after June 30, 1982, to a member, or a survivor or beneficiary of a member, who retired or was disabled before July 2, 1980, shall be increased by four percent (4%).

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Terms Used In Indiana Code 5-10.2-5-11

  • 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
  • Member: as used in this article means a member of the Indiana state teachers' retirement fund or of the public employees' retirement fund. See Indiana Code 5-10.2-1-4
     (b) The increase specified in this section:

(1) shall be based upon the date of the member’s initial 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.

As added by Acts 1982, P.L.38, SEC.1.

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