Sec. 21. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after June 30, 1990, to a member or a survivor or beneficiary of a member who retired or was disabled: (1) before July 2, 1971, shall be increased by three percent (3%); (2) after July 1, 1971, and before July 2, 1976, shall be increased by two percent (2%); and (3) after July 1, 1976, and before July 2, 1983, shall be increased by one percent (1%). (b) In addition to the increase specified in subsection (a), the pension portion (plus postretirement increases to the pension portion), provided by employer contributions of the monthly benefit payable after June 30, 1990, to a member or a survivor or beneficiary of a member, who retired or was disabled before July 2, 1988, shall be increased by two percent (2%). As added by P.L.43-1990, SEC.1.
IC 5-10.2-5-22 Increases after June 30, 1994 Sec. 22. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after June 30, 1994, to a member of the public employees' retirement fund or the Indiana state teachers' retirement fund or a survivor or beneficiary of a member of the public employees' retirement fund or the Indiana state teachers' retirement fund who retired or was disabled: (1) after July 1, 1987, and before July 2, 1992, shall be increased by one percent (1%); (2) after July 1, 1984, and before July 2, 1987, shall be increased by two percent (2%); and (3) before July 2, 1984, shall be increased by three percent (3%). (b) This subsection applies only to an increase payable to a member of the Indiana teachers' retirement fund. The cost difference between the monthly benefit payable before the increase required by this section and the monthly benefit payable after the increase required by this section after June 30, 1994, and before July 1, 1995, shall be paid from the employer reserve fund for the Indiana state teachers' retirement fund. After June 30, 1995, the difference shall be paid from the state general fund. (c) The increases specified in this section: (1) shall be based upon the date of the member's latest retirement or disability; (2) do not apply to benefits payable in a lump sum; and (3) are in addition to any other increase provided by law. As added by P.L.27-1994, SEC.1.