The Commission was created under IC 2-5-12 to oversee and study public retirement fund
Indiana. Under IC 2-5-12, the Commission is required to do the following:
(1) Study the investment and management practices of the boards of the public retirement funds.
(2) Determine what constitutes adequate wage replacement levels at retirement (including benefits from public retirement funds and social security) for public employees.
(3) Study the impact of federal law and proposals concerning pensions, annuities, and retirement benefits.
(4) Study the public safety officers' retirement funds established under IC 36-8.
(5) Study methods and levels of funding for public retirement plans.
The Commission may also study other topics assigned by the Legislative Council or as directed
by the Chairperson of the Commission. For the 1998 interim, the Legislative Council has
assigned the following additional topics to the Commission:
(1) Study the conversion of the Public Employees' Retirement Fund to a defined contribution system.
(2) Study the creation of a separate pension system for town marshals.
(3) Study the establishment of common and unified plans of self-insurance by the Indiana State Police.