Bill > HB1004

Introduced Session

Pension matters. Provides that a state employee may affirmatively elect to enroll in the deferred compensation plan prior to the auto enroll date on day 31 of the state employee's employment. Removes a provision that sets a maximum employer surcharge for the legislators' defined benefit plan, state excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement plan, public employees' retirement fund, and Indiana state teachers' retirement fund (fund). Requires the board of trustees of the Indiana public retirement system (board) to develop the technological and administrative capabilities sufficient to categorize fund members into separate groups in which: (1) certain members receive a service based thirteenth check; and (2) certain members receive a cost of living adjustment. Requires the board to set the surcharge rates at a level to actuarially prefund: (1) annual indexed thirteenth checks for all current retired members and beneficiaries retired before July 1, 2025; and (2) 1% annual cost of living adjustments to future in-payment members and beneficiaries retired on or after July 1, 2025. Provides that the board shall not reduce the surcharge rates from the prior year. Allows the board to increase the surcharge rates by not more than 0.1% of payroll from the prior year. Requires certain political subdivisions to present to the interim study committee on pension management oversight regarding a delinquent employee retirement plan offered by the political subdivision. Requires, effective July 1, 2025, the trustee of the state police pension trust to maintain two supplemental allowance reserve accounts for the purpose of paying postretirement benefit adjustments. Increases the maximum date that a member or participant of certain retirement funds can participate in the deferred retirement option plan from 36 to 60 months. Requires the member or participant to notify their employer if the member or participant elects to enter or extend the deferred retirement option plan. Provides for a thirteenth check in 2024 for certain members, participants, or beneficiaries of the: (1) Indiana state teachers' retirement fund; (2) Indiana public employees' retirement fund; (3) state excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement plan; (4) state police pre-1987 benefit system; and (5) state police 1987 benefit system.

AI Summary

Committee Categories

Bob Cherry (R)*,  David Abbott (R),  Mike Andrade (D),  Mike Aylesworth (R),  Beau Baird (R),  Brad Barrett (R),  Steve Bartels (R),  John Bartlett (D),  Maureen Bauer (D),  Bob Behning (R),  Mike Bohacek (R),  Bruce Borders (R),  Patricia Boy (D),  Brian Buchanan (R),  Chris Campbell (D),  Martin Carbaugh (R),  Becky Cash (R),  Ed Clere (R),  Michael Crider (R),  Cory Criswell (R),  Michelle Davis (R),  Ed DeLaney (D),  Dan Dernulc (R),  Dale DeVon (R),  Ryan Dvorak (D),  Karen Engleman (R),  Sue Errington (D),  Rita Fleming (D),  Victoria Garcia Wilburn (D),  Mark Genda (R),  Phil GiaQuinta (D),  Chuck Goodrich (R),  Mitch Gore (D),  Lori Goss-Reaves (R),  Robb Greene (R),  Craig Haggard (R),  David Hall (R),  Carey Hamilton (D),  Earl Harris (D),  Ragen Hatcher (D),  Ryan Hatfield (D),  Bob Heaton (R),  Dave Heine (R),  Matt Hostettler (R),  Todd Huston (R),  Carolyn Jackson (D),  Chris Jeter (R),  Blake Johnson (D),  Jack Jordan (R),  Chris Judy (R),  Mike Karickhoff (R),  Joanna King (R),  Sheila Klinker (D),  Ryan Lauer (R),  Cindy Ledbetter (R),  Matthew Lehman (R),  Shane Lindauer (R),  Jim Lucas (R),  Randy Lyness (R),  Ethan Manning (R),  Chris May (R),  Peggy Mayfield (R),  Julie McGuire (R),  Wendy McNamara (R),  Jenny Meltzer (R),  Kyle Miller (D),  Justin Moed (D),  Bob Morris (R),  Alan Morrison (R),  Chuck Moseley (D),  Sharon Negele (R),  David Niezgodski (D),  Tim O'Brien (R),  Julie Olthoff (R),  Reneé Pack (D),  Lindsay Patterson (R),  Zach Payne (R),  Tonya Pfaff (D),  Kyle Pierce (R),  Matt Pierce (D),  Gregory Porter (D),  J.D. Prescott (R),  Jim Pressel (R),  Cherrish Pryor (D),  Elizabeth Rowray (R),  Donna Schaibley (R),  Robin Shackleford (D),  Hal Slager (R),  Ben Smaltz (R),  Vernon Smith (D),  Craig Snow (R),  Ed Soliday (R),  Mike Speedy (R),  Greg Steuerwald (R),  Vanessa Summers (D),  Lorissa Sweet (R),  Jake Teshka (R),  Jeff Thompson (R),  Jerry Torr (R),  Heath VanNatter (R),  Tim Wesco (R),  Denny Zent (R),  Alex Zimmerman (R), 

Public Law 129 (on 03/13/2024)

Official Document