Cost of living pension adjustment.
Indianapolis-Marion County Revised Code § 279-404
in effectSec. 279-404. - Cost of living pension adjustment.
(a) This section is authorized by IC 36-8-10-23.
(b) A cost of living adjustment ("COLA") payment shall be determined annually commencing in 1998. The amount of the COLA payment shall be determined annually by the pension engineers, as they are defined by IC 36-8-10-2. The pension engineers shall determine if there has been an increase in the Consumer Price Index (United States City Average) prepared by the United States Department of Labor, by comparing the arithmetic mean of the Consumer Price Index for January, February, and March of the payment year with the same three-month period of the preceding year. If there has been an increase, the increase shall be stated as a percentage of the arithmetic mean for the three-month period for the year preceding the payment year ("the adjustment percentage"). The adjustment percentage shall be rounded to the nearest one-tenth of one (1) percent, and it may not exceed two (2) percent in any year beginning January 1, 1998.
(c) The COLA payment authorized under this section shall be funded by maintaining a fully funded actuarially sound trust fund and shall be paid monthly to each authorized retired or disabled county police officer.
(d) This section and the COLA payment shall apply only to retired or disabled county police officers who either are or become at least fifty-five (55) years of age after the effective date of this section.
(G.O. 110, 2005, § 1)
Source: Consolidated City of Indianapolis and Marion County, Revised Code (Municode Library, library.municode.com)URL: https://library.municode.com/in/indianapolis_-_marion_county/codes/code_of_ordinances?nodeId=TITIORAD_CH279INMEPODE_ARTIVPEOTBE_S279-404COLIPEADFetched: 10/27/2026