Ind. Code ch. 10-12-7

Ind. Code ch. 10-12-7
in effect

Ind. Code § 10-12-7-0.5 Application

Sec. 0.5. This chapter applies to the state police pre-1987 benefit system covered by IC 10-12-3 and the state police 1987 benefit system covered by IC 10-12-4. As added by P.L.129-2024, SEC.9 and P.L.136-2024, SEC.36.

Ind. Code § 10-12-7-1 "Account"

Sec. 1. For purposes of this chapter, "account" means the supplemental allowance reserve account described in section 2 of this chapter. As added by P.L.129-2024, SEC.9 and P.L.136-2024, SEC.36.

Ind. Code § 10-12-7-2 Supplemental allowance reserve account; purpose

Sec. 2. (a) The trustee shall maintain a separate supplemental allowance reserve account for both the state police pre-1987 benefit system under IC 10-12-3 and the state police 1987 benefit system under IC 10-12-4 for the purpose of paying postretirement benefit adjustments, including: (1) postretirement benefit increases; and (2) thirteenth checks; granted by the general assembly to employee beneficiaries after June 30, 2025. (b) For purposes of subsection (a), "postretirement benefit adjustments" does not include a supplemental pension benefit under IC 10-12-5. As added by P.L.129-2024, SEC.9 and P.L.136-2024, SEC.36.

Ind. Code § 10-12-7-3 Source of money

Sec. 3. The account consists of: (1) amounts appropriated by the general assembly; (2) amounts transferred to the account by the general assembly; and (3) surcharge amounts deposited under section 5 of this chapter. As added by P.L.129-2024, SEC.9 and P.L.136-2024, SEC.36. Amended by P.L.226-2025, SEC.2.

Ind. Code § 10-12-7-4 Prohibited actions by trustee

Sec. 4. The trustee may not: (1) deposit money in the account; or (2) transfer money to the account. As added by P.L.129-2024, SEC.9 and P.L.136-2024, SEC.36.

Ind. Code § 10-12-7-5 Surcharge

Sec. 5. (a) The treasurer of state shall determine a surcharge amount that is to be paid into the account. (b) In establishing the surcharge, the treasurer of state shall determine an equivalent amount to be included in the state general fund appropriations for the supplemental allowance reserve accounts. (c) The surcharge shall be paid from a separate charge for both employer and employee contributions. As added by P.L.226-2025, SEC.3.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/10Fetched: 10/17/2026

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