Summary of 2008 Legislation
Important legislative changes were made affecting your PERF benefits. A summary of those changes is provided below.
Re-employment of Public Employees
(SEA0051) Reduces from 90 days to 30 days the waiting period after which a retired PERF member may be re-employed in a covered position and continue to receive a retirement benefit.
Effective July 1, 2008
State Officers; Public Employee Benefits
(SEA0072) Appointed chaplains who serve a state law enforcement agency, police department or fire department who die in the line of duty will receive a special death benefit.
A member with both PERF and TRF service must choose which fund to retire from.
Effective July 1, 2008
PERF members who elect to withdraw their entire Annuity Savings Account (ASA) are still entitled to receive their pension when retirement eligible, if they are vested, separated from employment (after Dec. 31, 2008), and do not perform service in a covered position for 90 days.
Effective January 1, 2009
PERF COLA and Thirteenth Check
(SEA0133) Generally, members who retired or were disabled after Dec. 31, 1999 (or their survivors or beneficiaries) receive a 2 percent COLA, and generally members who retired or were disabled before Jan. 1, 2000 (or their survivors or beneficiaries) receive a 2.5 percent COLA. Increases are based on the date of the member’s latest retirement or disability and do not apply to benefits payable in a lump sum.
A member’s monthly pension benefit may not be less than $180.
Effective January 1, 2009
Thirteenth check mailed prior to Dec. 1, 2008 if retired or disabled before Jan. 1, 2008 and entitled to receive a benefit on Nov. 1, 2008; based on years of service:
At least five, less than 10 years (disabilitants) = $50
At least 10, less than 20 = $100
At least 20, less than 30 = $175
At least 30 = $225
Effective July 1, 2008
Judges’ Pensions
(SEA0329) Individuals serving as full-time magistrates on July 1, 2010 may elect to become full-time participants in the 1985 Judges’ Retirement System. Magistrates who begin serving after July 1, 2010 will become members of the 1985 Judges’ Retirement System.
Individuals in the 1985 Judges’ Retirement System may, following contribution, transfer to the 1985 system service credit earned as a full-time referee, commissioner, or magistrate after leaving the bench.
After Dec. 31, 2009, benefits paid under the 1985 Judges’ Retirement System shall be based on the salary being paid for the office that the participant last held, rather than the salary received at separation.
After Dec. 31, 2010, magistrates in the 1985 Judges’ Retirement System may purchase, at actuarial cost, service credit for service earned in the Public Employees’ Retirement Fund (PERF) as a full-time magistrate, referee or commissioner.
Court administration fees increase from $3 to $5; additional amount pays into Judges’ Retirement Fund.
Effective July 1, 2008
State and Local Finance
(HEA1001) The state pension relief fund will pay to units of local government the total amount of pension, disability, and survivor benefit payments from the old police and firefighter funds.
Effective July 1, 2009
Public Employee Retirement
(HEA1019)(HEA1125) Minimum monthly disability retirement benefit increases to $180 for certain PERF and TRF members.
Effective July 1, 2008
PERF Retirement Matters
(HEA1065) Members may change their beneficiary or form of benefit after retirement due to divorce.
Effective March 19, 2008
Various Public Safety Matters
(HEA1105) Mandatory retirement age increases from 60 to 65 for participants in the Excise, Gaming and Conservation Officers’ Retirement Plan.
Annual retirement plan allowance is capped at 75 percent of the participant’s annual salary. A deferred retirement option plan (DROP) is established for all plan participants.
Effective July 1, 2008
Public Safety Leaves of Absence; Retiree Re-employment
(HEA1119) Removes the $35,000 salary exemption for retired PERF members who are re-employed in a covered position.
Members of the 1977 Police and Firefighters’ Fund who take an elected office may take a leave of absence and maintain fund membership under certain circumstances.
Retired members of the 1977 Fund may be rehired not less than 30 days following retirement by the same unit and continue to receive a retirement benefit.
Effective July 1, 2008
Police & Firefighter Death Benefits
(HEA1156) The heirs or estate of a 1977 Fund member receives $12,000 upon the member’s death.
Effective July 1, 2008
Every attempt on PERF's behalf has been made to verify the accuracy of the information provided. In the event of a discrepancy between this information and Indiana state law, the applicable state law shall apply.
