Sec. 18. (a) Except as provided in subsections (b) and (c), a participant who becomes permanently disabled, as described in section 17 of this chapter, is entitled to an annual benefit equal to the product of:

(1) the annual salary that was paid to the participant at the time of separation from service; multiplied by

Terms Used In Indiana Code 33-39-7-18

  • fund: refers to the prosecuting attorneys retirement fund established by this chapter. See Indiana Code 33-39-7-5
  • participant: means a person serving in a position described in section 8 of this chapter who is participating in the fund. See Indiana Code 33-39-7-6
  • salary: means the salary paid to a participant by the state, determined without regard to any salary reduction agreement established under Section 125 of the Internal Revenue Code. See Indiana Code 33-39-7-7
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) the percentage prescribed in the following table:

 

Participant’s Years

of Service

Percentage

 

 

 

 

0-12

50%

 

 

13

51%

 

 

14

52%

 

 

15

53%

 

 

16

54%

 

 

17

55%

 

 

18

56%

 

 

19

57%

 

 

20

58%

 

 

21

59%

 

 

22 or more

60%

If a participant has a partial year of service in addition to at least ten (10) years of service, an additional percentage is calculated under this subsection by prorating between the applicable percentages, based on the number of months in the partial year of service.

     (b) Except as provided in subsection (c), benefits payable to a participant under this section are reduced by the amounts, if any, that are payable to the participant from the public employees’ retirement fund.

     (c) This subsection applies to a participant who is a member of the public employees’ defined contribution plan established by IC 5-10.3-12-18. Benefits payable to a participant under this section are reduced by the pension portion of the retirement benefit, if any, that would be payable to the participant from the public employees’ retirement fund if the participant had not made an election under IC 5-10.3-12-20 to become a member of the public employees’ defined contribution plan.

[Pre-2004 Recodification Citation: 33-14-9-16.]

As added by P.L.98-2004, SEC.18. Amended by P.L.54-2013, SEC.5; P.L.160-2013, SEC.7; P.L.27-2019, SEC.25.

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