Indiana Code 10-12-7-2. Supplemental allowance reserve account; purpose
Current as of: 2024 | Check for updates
|
Other versions
Sec. 2. (a) The trustee shall maintain a separate supplemental allowance reserve account for both the state police pre-1987 benefit system under IC 10-12-3 and the state police 1987 benefit system under IC 10-12-4 for the purpose of paying postretirement benefit adjustments, including:
(2) thirteenth checks;
(1) postretirement benefit increases; and
Terms Used In Indiana Code 10-12-7-2
- Trustee: A person or institution holding and administering property in trust.
granted by the general assembly to employee beneficiaries after June 30, 2025.
(b) For purposes of subsection (a), “postretirement benefit adjustments” does not include a supplemental pension benefit under IC 10-12-5.
As added by P.L.129-2024, SEC.9 and P.L.136-2024, SEC.36.