Ind. Code § 36-8-8.5-7

Current through P.L. 171-2024

Section 36-8-8.5-7 - "DROP frozen benefit"

As used in this chapter, "DROP frozen benefit" means a member's monthly retirement benefit calculated under the provisions of the applicable fund and based on:

(1) the salary of a first class officer or firefighter that is in effect on the member's DROP entry date; and

(2) the member's years of service accrued on the member's DROP entry date.

IC 36-8-8.5-7

As added by P.L. 62-2002, SEC.5.