Bill > SB0063

This bill, effective July 1, 2026, provides for a one-time "thirteenth check" payment in calendar year 2026 to certain retirees and beneficiaries of Indiana's public retirement systems. Specifically, it directs payments from the supplemental allowance reserve account to members of the Indiana state teachers' retirement fund (TRF) and the Indiana public employees' retirement fund (PERF) who retired or were disabled on or before December 1, 2025, with the amount varying based on years of creditable service, ranging from $150 for at least 5 years to $450 for at least 30 years. Additionally, it mandates payments to participants of the state excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement plan who retired or were disabled on or before July 2, 2025, and to beneficiaries of the state police pre-1987 and 1987 benefit systems who retired or were disabled before July 2, 2025, with these payments calculated as one percent of a specific pension amount based on years of service. These payments are intended as a supplemental allowance and do not increase the pension portion of the monthly benefit, and these specific provisions expire on January 1, 2028. The bill also introduces a joint and survivor option for retirement allowance payments for participants retiring after June 30, 2026, allowing them to elect a decreased benefit during their lifetime with a portion continuing to a designated beneficiary after their death, and clarifies that this option generally supersedes survivor benefits under other provisions.

Budget and Finance, Labor and Employment

https://iga.in.gov/legislative/2026/bills/senate/63/details