Indiana Code 5-10.4-6-6. Postretirement increase payable after June 30, 1978
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Sec. 6. (a) In addition to the increase provided in IC 5-10.2-5-6, the monthly benefit payable after June 30, 1978, to a member, or a survivor or beneficiary of a member who retired or was disabled:
(2) after July 1, 1962, and before July 2, 1967, is increased by two percent (2%); and
(1) before July 2, 1962, is increased by three percent (3%);
Terms Used In Indiana Code 5-10.4-6-6
- 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
(3) after July 1, 1967, and before July 2, 1972, is increased by one percent (1%).
(b) This section does not apply to benefits payable in a lump sum.
[Pre-2006 Education Finance Recodification Citation: 21-6.1-6-6.]
As added by P.L.2-2006, SEC.28.