Bob Cherry
- Republican
- Representative
- District 53
Author
Provides that a state employee may affirmatively elect to enroll in the deferred compensation plan prior to the auto enroll date on day 31 of the state employee's employment. Removes a provision that sets a maximum employer surcharge for the legislators' defined benefit plan, state excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement plan, public employees' retirement fund, and Indiana state teachers' retirement fund (fund). Requires the board of trustees of the Indiana public retirement system (board) to develop the technological and administrative capabilities sufficient to categorize fund members into separate groups in which: (1) certain members receive a service based thirteenth check; and (2) certain members receive a cost of living adjustment. Requires the board to set the surcharge rates at a level to actuarially prefund: (1) annual indexed thirteenth checks for all current retired members and beneficiaries retired before July 1, 2025; and (2) 1% annual cost of living adjustments to future in-payment members and beneficiaries retired on or after July 1, 2025. Provides that the board shall not reduce the surcharge rates from the prior year. Allows the board to increase the surcharge rates by not more than 0.1% of payroll from the prior year. Requires certain political subdivisions to present to the interim study committee on pension management oversight regarding a delinquent employee retirement plan offered by the political subdivision. Requires, effective July 1, 2025, the trustee of the state police pension trust to maintain two supplemental allowance reserve accounts for the purpose of paying postretirement benefit adjustments. Increases the maximum date that a member or participant of certain retirement funds can participate in the deferred retirement option plan from 36 to 60 months. Requires the member or participant to notify their employer if the member or participant elects to enter or extend the deferred retirement option plan. Provides for a thirteenth check in 2024 for certain members, participants, or beneficiaries of the: (1) Indiana state teachers' retirement fund; (2) Indiana public employees' retirement fund; (3) state excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement plan; (4) state police pre-1987 benefit system; and (5) state police 1987 benefit system.
Signed by the Governor
Public Law 129
Signed by the President of the Senate
Signed by the Speaker
Signed by the President Pro Tempore
CCR # 1 filed in the Senate
Rules Suspended. Conference Committee Report 1: adopted by the Senate; Roll Call 321: yeas 44, nays 3
Rules Suspended. Conference Committee Report 1: adopted by the House; Roll Call 335: yeas 98, nays 0
CCR # 1 filed in the House
House dissented from Senate amendments
Senate advisors appointed: Qaddoura and Mishler
Senate conferees appointed: Buchanan and Niezgodski
House advisors appointed: Thompson, Snow, Smaltz, Bartlett and Moseley
House conferees appointed: Cherry and Porter
Returned to the House with amendments
Motion to dissent filed
Third reading: passed; Roll Call 274: yeas 42, nays 6
Second reading: ordered engrossed
Amendment #1 (Qaddoura) failed; Roll Call 247: yeas 18, nays 31
Committee report: amend do pass, adopted
Senator Dernulc added as cosponsor
Senator Bray removed as second sponsor
Senator Bohacek added as cosponsor
First reading: referred to Committee on Appropriations
Referred to the Senate
Representatives Abbott D, Andrade M, Aylesworth, Baird, Barrett, Bartels, Bartlett, Bauer M, Behning, Borders, Boy, Campbell, Carbaugh, Cash B, Clere, Criswell C, Davis M, DeLaney, DeVon, Dvorak, Engleman, Errington, Fleming, Garcia Wilburn V, Genda M, GiaQuinta, Goodrich, Gore M, Goss-Reaves, Greene R, Haggard C, Hall D, Hamilton, Harris, Hatcher, Hatfield, Heaton, Heine, Hostettler, Huston, Jackson, Jeter C, Johnson, Jordan, Judy, King J, Klinker, Lauer, Ledbetter C, Lehman, Lindauer, Lucas, Lyness, Manning, May, Mayfield, McGuire J, McNamara, Miller K, Moed, Morris, Morrison, Moseley, Negele, O'Brien T, Olthoff, Pack R, Patterson L, Payne Z, Pfaff, Pierce K, Pierce M, Prescott, Pressel, Pryor, Rowray E, Schaibley, Shackleford, Slager, Smaltz, Smith, V., Snow C, Soliday, Speedy, Steuerwald, Summers, Sweet L, Teshka J, Thompson, Torr, VanNatter, Wesco, Zent, Zimmerman added as coauthors
Rule 105.1 suspended
Cosponsor: Senator Niezgodski
Third reading: passed; Roll Call 17: yeas 97, nays 0
Senate sponsors: Senators Buchanan, Bray, Crider
Second reading: ordered engrossed
Committee report: do pass, adopted
Authored by Representative Cherry
First reading: referred to Committee on Ways and Means
Coauthored by Representatives Porter, Karickhoff, Meltzer
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| Introduced House Bill (H) |
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| No related documents. |
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