Ind. Code ch. 5-10.2-12

in effect

Ind. Code § 5-10.2-12-1 Applicability

Sec. 1. This chapter applies to the supplemental allowance reserve accounts established under the following: (1) IC 2-3.5-3-2(c) (for the legislators' defined benefit plan). (2) IC 5-10-5.5-4(c) (for the state excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement plan). (3) IC 5-10.2-2-2(a)(3) (for the public employees' retirement fund). (4) IC 5-10.2-2-2(c)(3) (for the Indiana state teachers' retirement fund). As added by P.L.127-2018, SEC.9.

Ind. Code § 5-10.2-12-2 Uses of money in a supplemental allowance reserve account

Sec. 2. All amounts in a supplemental allowance reserve account of a fund or plan are available to the board to pay a postretirement benefit increase, thirteenth check, or other benefit change or adjustment granted by the general assembly after June 30, 2018, to members of or participants in that fund or plan. As added by P.L.127-2018, SEC.9.

Ind. Code § 5-10.2-12-3 Contribution rate surcharge

Sec. 3. (a) For 2019 and each year thereafter, the contribution rate established by the board for each employer shall include a surcharge determined by the board that is paid to the supplemental allowance reserve account of the applicable fund or plan. The board shall determine an equivalent amount to be included in the general fund appropriations for the supplemental allowance reserve accounts of the legislators' defined benefit plan and, subject to IC 5-10.4-2-5, the pre-1996 account of the Indiana state teachers' retirement fund. (b) The surcharge described in subsection (a) shall be paid in the same manner as other employer contributions required under IC 5-10-5.5-4, IC 5-10.2-2-12.5, IC 5-10.3-7-12.5, and IC 5-10.4-7-6. As added by P.L.127-2018, SEC.9. Amended by P.L.129-2024, SEC.3.

Ind. Code § 5-10.2-12-4 Supplemental allowance reserve account; actuarial report; grants of postretirement benefits

Sec. 4. (a) In each even-numbered calendar year, beginning in 2018, the board shall present to the interim study committee on pension management oversight (established by IC 2-5-1.3-4) an actuarial report concerning the status of each supplemental allowance reserve account. (b) The general assembly may grant a postretirement benefit increase, thirteenth check, or other benefit change or adjustment for members of or participants in a fund or plan listed in section 1 of this chapter only: (1) in an odd-numbered calendar year; and (2) if the postretirement benefit increase, thirteenth check, or other benefit change or adjustment: (A) may be funded from the uncommitted balance in the supplemental allowance reserve account of the particular fund or plan; and (B) may be paid in the same amount or percentage, or by using the same formula or computation method, to members of or participants in each of the funds and plans listed in section 1 of this chapter. As added by P.L.127-2018, SEC.9.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/5Fetched: 10/17/2026