Pension matters. 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. Makes conforming amendments. (The introduced version of this bill was prepared by the interim study committee on pension management oversight.)
| Authored by Senators Buchanan and Rogers |
| 2025-02-20 | Senate | Senate - Third reading | PASS |
| Title | Description | Date | View |
|---|---|---|---|
| Fiscal Note | Fiscal Note #3: Senate Comm Sub | 2025-02-20 | Click To View |
| Fiscal Note | Fiscal Note #2: Senate Comm Sub | 2025-02-18 | Click To View |
| Fiscal Note | Fiscal Note #1: Senate Comm Sub | 2025-02-13 | Click To View |
| Committee Report | Senate Committee Report | 2025-02-13 | Click To View |
| Vote Sheet | Vote Sheet February 13, 2025 | 2025-02-13 | Click To View |
| Fiscal Note | Fiscal Note #1: Senate Comm Sub | 2025-01-29 | Click To View |
| Committee Report | Senate Committee Report | 2025-01-29 | Click To View |
| Vote Sheet | Vote Sheet January 29, 2025 | 2025-01-29 | Click To View |
| Fiscal Note | Fiscal Note #1: Introduced | 2025-01-10 | Click To View |
| Date | Chamber | Action |
|---|---|---|
| 2025-03-03 | House | First reading: referred to Committee on Employment, Labor and Pensions |
| 2025-02-21 | Senate | Referred to the House |
| 2025-02-20 | Senate | House sponsor: Representative Carbaugh |
| 2025-02-20 | Senate | Third reading: passed; Roll Call 180: yeas 49, nays 0 |
| 2025-02-18 | Senate | Second reading: ordered engrossed |
| 2025-02-13 | Senate | Senator Niezgodski added as coauthor |
| 2025-02-13 | Senate | Committee report: amend do pass, adopted |
| 2025-01-29 | Senate | Committee report: amend do pass adopted; reassigned to Committee on Appropriations |
| 2025-01-13 | Senate | First reading: referred to Committee on Pensions and Labor |
| 2025-01-13 | Senate | Authored by Senators Buchanan and Rogers |