HB 1463

Bill Subjects

Indiana Public Retirement System (Formerly Perf) Labor And Employment, Wages, Arbitration, And Benefits Law Enforcement Generally Law Enforcement, Police Pensions And Benefits Law Enforcement, State Police

Abstract

Establishes the state police 2023 retirement benefit system. Provides for a pension benefit based on the salary of a trooper with 25 years of service. Automatically adjusts the pension benefit each time the maximum salary for a trooper with 25 years of service is increased. Specifies that the new system applies to current and retired officers who were employed before July 1, 2023, and elect to participate in the 2023 retirement benefit plan and to officers employed for the first time after June 30, 2023.