Section 10-12-7-2 - [Effective 7/1/2025] Supplemental allowance reserve account; purpose(a) The trustee shall maintain a separate supplemental allowance reserve account for both the state police pre-1987 benefit system under IC 10-12-3 and the state police 1987 benefit system under IC 10-12-4 for the purpose of paying postretirement benefit adjustments, including: (1) postretirement benefit increases; and(2) thirteenth checks; granted by the general assembly to employee beneficiaries after June 30, 2025.
(b) For purposes of subsection (a), "postretirement benefit adjustments" does not include a supplemental pension benefit under IC 10-12-5.Added by P.L. 129-2024,SEC. 9, eff. 7/1/2025.Added by P.L. 136-2024,SEC. 36, eff. 7/1/2025.