Brian Buchanan
- Republican
- Senator
- District 7
Author
Modifies the definition of "average of the annual compensation" for a member of the public employees' retirement fund (PERF) who retires after December 31, 2026. Specifies that compensation received in contemplation of retirement is excluded from the average of the annual compensation for particular members of PERF and the Indiana state teachers' retirement fund (TRF). Repeals a provision requiring the board of trustees of the Indiana public retirement system (board) to maintain separate accounts for each unit of local government. Provides that amounts forfeited under the public employees defined contribution plan must be used as determined by the board. (Current law requires these amounts to be used to reduce the unfunded accrued liability of PERF.) Specifies a process by which a fully vested member of the public employees' defined contribution plan or the teachers' defined contribution plan may irrevocably elect to participate in PERF or TRF, as applicable. Modifies the information that must be included in a delinquency notice to a delinquent political subdivision. Specifies the circumstances under which an employer under the 1977 police officers' and firefighters' pension and disability fund is required to pay for certain mental health care and treatment. Makes conforming amendments. (The introduced version of this bill was prepared by the interim study committee on pension management oversight.)
Committee report: amend do pass, adopted
Representative Garcia Wilburn added as cosponsor
First reading: referred to Committee on Employment, Labor and Pensions
Referred to the House
Third reading: passed; Roll Call 180: yeas 49, nays 0
House sponsor: Representative Carbaugh
Second reading: ordered engrossed
Senator Niezgodski added as coauthor
Committee report: amend do pass, adopted
Committee report: amend do pass adopted; reassigned to Committee on Appropriations
Authored by Senators Buchanan and Rogers
First reading: referred to Committee on Pensions and Labor
| Bill Text Versions | Format |
|---|---|
| Senate Bill (H) | PDF PDF |
| Senate Bill (S) | |
| Introduced Senate Bill (S) |
| Document | Format |
|---|---|
| Fiscal Note: SB0250.04.COMH.FN001 |
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