Indiana SB0069 amends pension and disability fund rules for 1977 fund members, increasing benefits and contributions.

Indiana SB0069 amends the 1977 pension and disability fund by increasing the basic monthly pension benefit for members who retire after June 30, 2026, with 20 years of service. It also increases the contribution rate for 1977 fund members and the lump sum death benefit payable to the heirs or estate of a 1977 fund member. The bill allows a 1977 fund member to extend their deferred retirement option plan (DROP) retirement date up to 60 months after the member entered the DROP. These changes are set to take effect on July 1, 2026.

Indiana SB0069 amends pension and disability fund rules for 1977 fund members, increasing benefits and contributions.

Indiana SB0069 amends the 1977 pension and disability fund by increasing the basic monthly pension benefit for members who retire after June 30, 2026, with 20 years of service. It also increases the contribution rate for 1977 fund members and the lump sum death benefit payable to the heirs or estate of a 1977 fund member. The bill allows a 1977 fund member to extend their deferred retirement option plan (DROP) retirement date up to 60 months after the member entered the DROP. These changes are set to take effect on July 1, 2026.