Introduced Version
SENATE BILL No. 362
_____
DIGEST OF INTRODUCED BILL
Citations Affected: Noncode.
Synopsis: Thirteenth check. Provides for a thirteenth check 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.
Provides for a $50 payment to members of the Indiana state teachers'
retirement fund and Indiana public employees' retirement fund, and to
participants of the state excise police, gaming agent, gaming control
officer, and conservation enforcement officers' retirement plan.
Effective: July 1, 2025.
Niezgodski
January 13, 2025, read first time and referred to Committee on Appropriations.
2025 IN 362—LS 6778/DI 153 Introduced
First Regular Session of the 124th General Assembly (2025)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
Constitution) is being amended, the text of the existing provision will appear in this style type,
additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional
provision adopted), the text of the new provision will appear in this style type. Also, the
word NEW will appear in that style type in the introductory clause of each SECTION that adds
a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts
between statutes enacted by the 2024 Regular Session of the General Assembly.
SENATE BILL No. 362
A BILL FOR AN ACT concerning pensions.
Be it enacted by the General Assembly of the State of Indiana:
1 SECTION 1. [EFFECTIVE JULY 1, 2025] (a) As used in this
2 SECTION, "fund" refers to the Indiana state teachers' retirement
3 fund established by IC 5-10.4-2-1.
4 (b) As used in this SECTION, "supplemental allowance reserve
5 account" refers to the supplemental allowance reserve account
6 established by IC 5-10.2-2-2(c)(3).
7 (c) Not later than October 1, 2025, the supplemental allowance
8 reserve account shall pay the amount determined under subsection
9 (d) to a member of the fund (or to a survivor or beneficiary of a
10 member) who retired or was disabled on or before December 1,
11 2024, and who is entitled to receive a monthly benefit on July 1,
12 2025. The amount is not an increase in the pension portion of the
13 monthly benefit.
14 (d) The amount paid under subsection (c) to a member of the
15 fund (or to a survivor or beneficiary of a member) who meets the
16 requirements of subsection (c) is determined as follows:
17 If a Member's Creditable The Amount Is:
18 Service Is:
2025 IN 362—LS 6778/DI 153 2
1 At least 5 years, but less than 10 years $150
2 (only in the case of a member receiving
3 disability retirement benefits)
4 At least 10 years, but less than 20 years $275
5 At least 20 years, but less than 30 years $375
6 At least 30 years $450
7 (e) The creditable service used to determine the amount paid to
8 a member (or to a survivor or beneficiary of a member) under
9 subsection (c) is the creditable service that was used to compute the
10 member's retirement benefit under IC 5-10.2-4-4, except that
11 partial years of creditable service may not be used to determine the
12 amount paid under subsection (c).
13 (f) If two (2) or more survivors or beneficiaries of a member are
14 entitled to an amount paid under subsection (c), the amount shall
15 be allocated to the survivors or beneficiaries in shares using the
16 same percentages as the percentages determined under
17 IC 5-10.2-3-7.5 or IC 5-10.4-4-10 to pay the monthly benefit to the
18 survivors or beneficiaries.
19 (g) Not later than October 1, 2025, either the fund or the state
20 general fund, or both, shall pay fifty dollars ($50) to a member of
21 the fund (or to a survivor or beneficiary of a member) who retired
22 or was disabled on or before December 1, 2024, and who is entitled
23 to receive a monthly benefit on July 1, 2025.
24 (h) This SECTION applies notwithstanding IC 5-10.2-12-4(b).
25 (i) This SECTION expires January 1, 2026.
26 SECTION 2. [EFFECTIVE JULY 1, 2025] (a) As used in this
27 SECTION, "fund" refers to the Indiana public employees'
28 retirement fund established by IC 5-10.3-2-1.
29 (b) As used in this SECTION, "supplemental allowance reserve
30 account" refers to the supplemental allowance reserve account
31 established by IC 5-10.2-2-2(a)(3).
32 (c) Not later than October 1, 2025, the supplemental allowance
33 reserve account shall pay the amount determined under subsection
34 (d) to a member of the fund (or to a survivor or beneficiary of a
35 member) who retired or was disabled on or before December 1,
36 2024, and who is entitled to receive a monthly benefit on July 1,
37 2025. The amount is not an increase in the pension portion of the
38 monthly benefit.
39 (d) The amount paid under subsection (c) to a member of the
40 fund (or to a survivor or beneficiary of a member) who meets the
41 requirements of subsection (c) is determined as follows:
42 If a Member's Creditable The Amount Is:
2025 IN 362—LS 6778/DI 153 3
1 Service Is:
2 At least 5 years, but less than 10 years $150
3 (only in the case of a member receiving
4 disability retirement benefits)
5 At least 10 years, but less than 20 years $275
6 At least 20 years, but less than 30 years $375
7 At least 30 years $450
8 (e) The creditable service used to determine the amount paid to
9 a member (or to a survivor or beneficiary of a member) under
10 subsection (c) is the creditable service that was used to compute the
11 member's retirement benefit under IC 5-10.2-4-4, except that
12 partial years of creditable service may not be used to determine the
13 amount paid under subsection (c).
14 (f) If two (2) or more survivors or beneficiaries of a member are
15 entitled to an amount paid under subsection (c), the amount shall
16 be allocated to the survivors or beneficiaries in shares using the
17 same percentages as the percentages determined under
18 IC 5-10.2-3-7.5 or IC 5-10.3-8-15 to pay the monthly benefit to the
19 survivors or beneficiaries.
20 (g) Not later than October 1, 2025, either the fund or the state
21 general fund, or both, shall pay fifty dollars ($50) to a member of
22 the fund (or to a survivor or beneficiary of a member) who retired
23 or was disabled on or before December 1, 2024, and who is entitled
24 to receive a monthly benefit on July 1, 2025.
25 (h) This SECTION applies notwithstanding IC 5-10.2-12-4(b).
26 (i) This SECTION expires January 1, 2026.
27 SECTION 3. [EFFECTIVE JULY 1, 2025] (a) As used in this
28 SECTION, "participant" has the meaning set forth in
29 IC 5-10-5.5-1.
30 (b) As used in this SECTION, "plan" refers to the state excise
31 police, gaming agent, gaming control officer, and conservation
32 enforcement officers' retirement plan created by IC 5-10-5.5-2.
33 (c) As used in this SECTION, "supplemental allowance reserve
34 account" refers to the supplemental allowance reserve account
35 established by IC 5-10-5.5-4(c).
36 (d) Not later than October 1, 2025, the supplemental allowance
37 reserve account shall pay the amount determined under subsection
38 (e) to a plan participant (or to a survivor or beneficiary of a plan
39 participant) who retired or was disabled on or before December 1,
40 2024, and who is entitled to receive a monthly benefit on July 1,
41 2025. The amount is not an increase in the annual retirement
42 allowance.
2025 IN 362—LS 6778/DI 153 4
1 (e) The amount paid under subsection (d) to a plan participant
2 (or to a survivor or beneficiary of a plan participant) who meets
3 the requirements of subsection (d) is determined as follows:
4 If a Plan Participant's Creditable The Amount Is:
5 Service Is:
6 At least 5 years, but less than 10 years $150
7 (only in the case of a member receiving
8 disability retirement benefits)
9 At least 10 years, but less than 20 years $275
10 At least 20 years, but less than 30 years $375
11 At least 30 years $450
12 (f) The creditable service used to determine the amount paid to
13 a plan participant (or to a survivor or beneficiary of a plan
14 participant) under subsection (d) is the creditable service that was
15 used to compute the plan participant's retirement allowance under
16 IC 5-10-5.5-10 and IC 5-10-5.5-12, except that partial years of
17 creditable service may not be used to determine the amount paid
18 under subsection (d).
19 (g) If two (2) or more survivors or beneficiaries of a plan
20 participant are entitled to an amount paid under subsection (d), the
21 amount shall be allocated to the survivors or beneficiaries in shares
22 using the same percentages as the percentages determined under
23 IC 5-10-5.5-16 to pay the monthly benefit to the survivors or
24 beneficiaries.
25 (h) Not later than October 1, 2025, either the plan or the state
26 general fund, or both, shall pay fifty dollars ($50) to a plan
27 participant (or to a survivor or beneficiary of a plan participant)
28 who retired or was disabled on or before December 1, 2024, and
29 who is entitled to receive a monthly benefit on July 1, 2025.
30 (i) This SECTION applies notwithstanding IC 5-10.2-12-4(b).
31 (j) This SECTION expires January 1, 2026.
32 SECTION 4. [EFFECTIVE JULY 1, 2025] (a) As used in this
33 SECTION, "trustee" has the meaning set forth in IC 10-12-1-10.
34 (b) As used in this SECTION, "trust fund" has the meaning set
35 forth in IC 10-12-1-11.
36 (c) Not later than October 1, 2025, the trustee shall pay from the
37 trust fund to each employee beneficiary of the state police pre-1987
38 benefit system covered by IC 10-12-3 who:
39 (1) retired or was disabled before July 2, 2024; and
40 (2) is entitled to receive a monthly benefit as of September 1,
41 2025;
42 an amount equal to one percent (1%) of the maximum basic annual
2025 IN 362—LS 6778/DI 153 5
1 pension amount payable to a retired state police employee in the
2 grade of trooper who has completed twenty (20) years of service as
3 of July 1, 2025, as calculated under IC 10-12-3-7.
4 (d) The amount paid under this SECTION is not an increase in
5 the monthly pension amount of an employee beneficiary.
6 (e) This SECTION applies notwithstanding IC 5-10.2-12-4(b).
7 (f) This SECTION expires January 1, 2026.
8 SECTION 5. [EFFECTIVE JULY 1, 2025] (a) As used in this
9 SECTION, "trustee" has the meaning set forth in IC 10-12-1-10.
10 (b) As used in this SECTION, "trust fund" has the meaning set
11 forth in IC 10-12-1-11.
12 (c) Not later than October 1, 2025, the trustee shall pay from the
13 trust fund to each employee beneficiary of the state police 1987
14 benefit system covered by IC 10-12-4 who:
15 (1) retired or was disabled after June 30, 1987, and before
16 July 2, 2024; and
17 (2) is entitled to receive a monthly benefit as of September 1,
18 2025;
19 an amount equal to one percent (1%) of the maximum basic annual
20 pension amount payable to a retired state police employee in the
21 grade of trooper who has completed twenty-five (25) years of
22 service as of July 1, 2025, as calculated under IC 10-12-4-7.
23 (d) The amount paid under this SECTION is not an increase in
24 the monthly pension amount of an employee beneficiary.
25 (e) This SECTION applies notwithstanding IC 5-10.2-12-4(b).
26 (f) This SECTION expires January 1, 2026.
2025 IN 362—LS 6778/DI 153