Compensation received in contemplation of retirement
Ind. Code § 5-10.2-4-3.2
in effectSec. 3.2. (a) This section applies to the calculation of the average of the annual compensation under section 3 of this chapter for members who retire after December 31, 2027.
(b) For purposes of this section, "compensation received in contemplation of retirement" means compensation that:
(1) a member received:
(A) during the member's last year of service; and
(B) after the member's last year of service; and
(2) is greater than one hundred twenty percent (120%) of the compensation the member received during the year immediately before the member's last year of service.
(c) For a member who:
(1) retires after December 31, 2027; and
(2) served in a covered position during the entire year before the member's last year of service;
compensation received in contemplation of retirement is excluded from the average of the annual compensation.
(d) For purposes of this section, a year must begin on January 1 or July 1 on the same basis as the average of the annual compensation.
As added by P.L.104-2026, SEC.10.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/5Fetched: 10/17/2026