Surcharge rates to prefund postretirement benefits
Ind. Code § 5-10.5-4-8
in effectSec. 8. (a) The board shall set the surcharge rates under IC 5-10.2-12-3 at a level to actuarially prefund:
(1) annual indexed thirteenth checks for all current retired members and beneficiaries retired before July 1, 2029; and
(2) one percent (1%) annual cost of living adjustments to future in-payment members and beneficiaries retired on or after July 1, 2029.
(b) The board shall not reduce the surcharge rates under IC 5-10.2-12-3 from the prior year.
(c) The board may increase the surcharge rates under IC 5-10.2-12-3 by not more than one-tenth percent (0.1%) of payroll from the prior year.
(d) This section expires December 31, 2031.
As added by P.L.129-2024, SEC.5. Amended by P.L.226-2025, SEC.1.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/5Fetched: 10/17/2026