2015 Legislation!
Click on the Blue Bill Number to be Redirected to the Actual Bill.

Senate Bill 34 -- Provides that, after June 30, 2015, the trustee of the state police pension trust and the state police benefit fund is the board of trustees of the Indiana public retirement system.

THIS BILL DID NOT MAKE IT OUT OF COMMITTEE!
Senate Bill 51 -- Provides that members and beneficiaries of any public pension fund administered by the Indiana public retirement system may receive monthly benefits only by direct deposit or another method approved by the board of trustees of the Indiana public retirement system. Repeals a similar but more narrowly applicable section concerning methods of paying monthly benefits to members and beneficiaries of the public employees' retirement fund and the teachers' retirement fund.

THIS BILL DID NOT MAKE IT OUT OF COMMITTEE!
Senate Bill 214 -- Provides that the salary paid from state or local appropriations to a public officer, employee, or contractor of the executive, legislative, or judicial branch of state government, state educational institutions, political subdivisions, or bodies corporate and politic of the state or a political subdivision may not exceed the salary paid to the governor, except that the salary of a contractor or employee of a state educational institution may be supplemented with amounts paid by or through an endowment that is not funded by taxes, fees, or appropriations of money from the treasury of the state or a political subdivision.

THIS BILL DID NOT MAKE IT OUT OF COMMITTEE!
Senate Bill 265 -- Permits a member of the public employees' retirement fund (PERF) to purchase at full actuarial cost the member's prior service in the 1977 police officers' and firefighters' pension and disability fund (1977 fund). Requires the board of trustees of the Indiana public retirement system to transfer from the 1977 fund to PERF the member's contributions and the present value of the unreduced benefit payable upon retirement that is attributable to the member. Requires the transferred amounts to be credited against the contributions required to purchase the member's prior 1977 fund service. Permits the member's employer to pay all or a Permits a member of the public employees' retirement fund (PERF) to purchase at full actuarial cost the member's prior service in the 1977 police officers' and firefighters' pension and disability fund (1977 fund). Requires the board of trustees of the Indiana public retirement system to transfer from the 1977 fund to PERF the member's contributions and the present value of the unreduced benefit payable upon retirement that is attributable to the member. Requires the transferred amounts to be credited against the contributions required to purchase the member's prior 1977 fund service. Permits the member's employer to pay all or a part of the member's contributions required for the purchase of the member's prior 1977 fund service.

THIS BILL WAS AMENDED DURING 2ND READING AND NOW MOVES ONTO THE HOUSE!
Senate Bill 283 -- Provides that the board of the Indiana public retirement system (INPRS) may determine a term that does not exceed 30 years over which to amortize various unfunded accrued liabilities associated with the funds administered by INPRS. (The introduced version of this bill was prepared by the interim study committee on pension management oversight.)

THIS BILL HAS MOVED ONTO THE HOUSE!
Senate Bill 286 -- Provides that the maximum state income tax deduction for federal civil service annuity income is equal to the lesser of: (1) the amount of federal civil service annuity income received during the taxable year; or (2) the average annual federal Social Security retirement benefit paid to Indiana retired workers during the calendar year preceding the taxpayer's taxable year. Retains the provision that reduces the deduction by the amount of any federal Social Security and railroad retirement benefits received by the taxpayer during the taxable year. Provides that the deduction is also available to a surviving spouse.

THIS BILL DID NOT MAKE IT OUT OF COMMITTEE!
****** Senate Bill 492 ****** -- Provides that an individual who is a first time full-time employee of the state or a participating political subdivision after June 30, 2015, becomes a member of the public employees' defined contribution plan unless the individual makes an explicit election to become a member of the public employees' retirement fund (PERF). (This reverses the presumption under current law.) Provides that a political subdivision may participate in the public employees' defined contribution plan. Provides that an employer that is eligible but not required to participate in PERF must pay the employer's share of the unfunded liability attributable to the employer's current Provides that an individual who is a first time full-time employee of the state or a participating political subdivision after June 30, 2015, becomes a member of the public employees' defined contribution plan unless the individual makes an explicit election to become a member of the public employees' retirement fund (PERF). (This reverses the presumption under current law.) Provides that a political subdivision may participate in the public employees' defined contribution plan. Provides that an employer that is eligible but not required to participate in PERF must pay the employer's share of the unfunded liability attributable to the employer's current and former employees if the employer withdraws from PERF or otherwise reduces the employer's participation in PERF by attrition. Provides that after December 31, 2015, members and beneficiaries of any public pension fund administered by the Indiana public retirement system may receive monthly benefits only by direct deposit or another method approved by the board of trustees of the Indiana public retirement system. Provides that an entity that is eligible but not required to participate in PERF and that wishes to offer a retirement plan to an employee must participate in either PERF or the public employees' defined contribution plan. Requires the office of management and budget to report to the interim study committee on pension management oversight each year concerning information received from political subdivisions about the subdivisions' retirement plans. Expires a section concerning methods of paying monthly benefits to members and beneficiaries of PERF and the teachers' retirement fund.

THIS BILL WAS AMENDED DURING COMMITTEE AND 2ND READING AND HAS MOVED ONTO THE HOUSE!
House Bill 1077 -- Provides that the maximum state income tax deduction for federal civil service annuity income is equal to the lesser of: (1) the amount of federal civil service annuity income received during the taxable year; or (2) the average annual federal Social Security retirement benefit paid to Indiana retired workers during the calendar year preceding the taxpayer's taxable year. Retains the provision that reduces the deduction by the amount of any federal Social Security and railroad retirement benefits received by the taxpayer during the taxable year. Provides that the deduction is also available to a surviving spouse.

THIS BILL DID NOT MAKE IT OUT OF COMMITTEE!
House Bill 1109 -- Provides that members and beneficiaries of any public pension fund administered by the Indiana public retirement system may receive monthly benefits only by direct deposit or another method approved by the board of trustees of the Indiana public retirement system. Repeals a similar but more narrowly applicable section concerning methods of paying monthly benefits to members and beneficiaries of the public employees' retirement fund and the teachers' retirement fund.

THIS BILL HAS MOVED ONTO THE SENATE!
House Bill 1150 -- Makes changes to the 1977 police officers' and firefighters' pension and disability fund to include police officers in several sections of the statute that may logically apply to police officers as well as firefighters. (The introduced version of this bill was prepared by the interim study committee on pension management oversight.)

THIS BILL HAS MOVED ONTO THE SENATE!
House Bill 1246 -- Provides that an individual's Indiana adjusted gross income excludes income that is attributable to a pension or other benefit received from the 1925 police pension fund.

THIS BILL DID NOT MAKE IT OUT OF COMMITTEE!
House Bill 1463 -- Pension thirteenth checks.  Provides for a thirteenth check in 2015 and 2016 for certain members of the (1) Indiana state teachers' retirement fund; (2) public employees' retirement fund; (3) state excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement plan; (4) state police 1987 benefit system; and (5) state police pre-1987 benefit system.  Provides that employer contributions may not  be used to pay for the thirteenth checks unless, and only to the extent that, the appropriations in the state budget are insufficient to pay thirteenth checks.  (This introduced version of the bill was prepared by the interim study committee on pension management oversight.)

THIS BILL DID NOT MAKE IT OUT OF COMMITTEE! 
House Bill 1464 -- Provides for cost of living adjustments for certain members of the: (1) public employees' retirement fund; (2) Indiana state teachers' retirement fund; (3) the state police pre-1987 benefit system; and (4) the state police 1987 benefit system.

THIS BILL DID NOT MAKE IT OUT OF COMMITTEE!
House Bill 1466 -- Provides that an employer that is eligible but not required to participate in the public employees' retirement fund (PERF) must pay the employer's share of the unfunded liability attributable to the employer's current and former employees if the employer withdraws from PERF or otherwise phases out its participation in PERF. Provides that an entity that is eligible but not required to participate in the public employees' retirement fund and that wishes to offer a retirement plan to an employee must establish or participate in a defined contribution plan.

THIS BILL WAS AMENDED AND HAS MOVED ONTO THE SENATE!
****** House Bill 1481 ****** -- Provides that after December 31, 2015, an eligible employee of the state becomes a member of the public employees' defined contribution plan (plan). Provides that an eligible employee of a political subdivision that participates in the plan becomes a member of the plan. Provides that after December 31, 2015, a political subdivision may not begin or expand participation in the public employees' retirement fund. Provides that the employer of an individual who is a member of the plan shall match the individual's contribution to the plan to a limit of 7.5% of the individual's compensation. Grants cost of living adjustments Provides that after December 31, 2015, an eligible employee of the state becomes a member of the public employees' defined contribution plan (plan). Provides that an eligible employee of a political subdivision that participates in the plan becomes a member of the plan. Provides that after December 31, 2015, a political subdivision may not begin or expand participation in the public employees' retirement fund. Provides that the employer of an individual who is a member of the plan shall match the individual's contribution to the plan to a limit of 7.5% of the individual's compensation. Grants cost of living adjustments in 2015 and 2016 for certain members of the: (1) public employees' retirement fund; (2) Indiana state teachers' retirement fund; (3) state police pre-1987 benefit system; and (4) state police 1987 benefit system.

THIS BILL HAS BEEN AMENDED AND MOVES ONTO THE SENATE!
House Bill 1493 -- Provides for cost of living adjustments in 2015 and 2016 for certain members of the: (1) public employees' retirement fund; (2) Indiana state teachers' retirement fund; (3) state police pre-1987 benefit system; and (4) state police 1987 benefit system. Provides that employer contributions may not be used to pay for the cost of living adjustments unless, and only to the extent that, the appropriations in the state budget are insufficient to pay the cost of living adjustments. Provides for a thirteenth check in 2015 and 2016 for certain members of the: (1) Indiana state teachers' retirement fund; (2) public employees' Provides for cost of living adjustments in 2015 and 2016 for certain members of the: (1) public employees' retirement fund; (2) Indiana state teachers' retirement fund; (3) state police pre-1987 benefit system; and (4) state police 1987 benefit system. Provides that employer contributions may not be used to pay for the cost of living adjustments unless, and only to the extent that, the appropriations in the state budget are insufficient to pay the cost of living adjustments. Provides for a thirteenth check in 2015 and 2016 for certain members of the: (1) Indiana state teachers' retirement fund; (2) public employees' retirement fund; (3) state excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement plan; (4) state police 1987 benefit system; and (5) state police pre-1987 benefit system. Provides that employer contributions may not be used to pay for the thirteenth checks unless, and only to the extent that, the appropriations in the state budget are insufficient to pay thirteenth checks.

THIS BILL DID NOT MAKE IT OUT OF COMMITTEE!
House Bill 1581 -- Provides that if an entity, including a political subdivision, participates in the public employees' retirement fund (PERF) at the discretion of the entity and then takes an action that would restrict employee membership in PERF, the entity becomes liable for the future benefits payable to the entity's current and former employees. Provides that if an entity (other than a political subdivision) that has discretion to participate in PERF seeks to withdraw from PERF, the entity becomes liable for the future benefits payable to the entity's current and former employees. Eliminates an obsolete provision that is no longer applicable to governmental Provides that if an entity, including a political subdivision, participates in the public employees' retirement fund (PERF) at the discretion of the entity and then takes an action that would restrict employee membership in PERF, the entity becomes liable for the future benefits payable to the entity's current and former employees. Provides that if an entity (other than a political subdivision) that has discretion to participate in PERF seeks to withdraw from PERF, the entity becomes liable for the future benefits payable to the entity's current and former employees. Eliminates an obsolete provision that is no longer applicable to governmental retirement plans under the Internal Revenue Code.

THIS BILL DID NOT MAKE IT OUT OF COMMITTEE!