Sec. 19. (a) The pension portion (plus postretirement increases to the pension portion), provided by
employer contributions, of the monthly benefit payable after June 30, 1989, to a
member, or a survivor or
beneficiary of a member, who retired or was disabled before July 2, 1987, shall be increased by three percent (3%).
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Terms Used In Indiana Code 5-10.2-5-19
- 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
- Employer: as used in this article means the state for employees of the state and a political subdivision or school corporation for its employees. See Indiana Code 5-10.2-1-3
- 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
(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.61-1989, SEC.1.
