IC 5-10.2-5-12: 1983 postretirement increases

Sec. 12. (a) The monthly benefit payable after June 30, 1983, to a member, or a survivor or beneficiary of a member, who retired or was disabled:

(1) before July 2, 1965, shall be increased by three percent (3%);

(2) after July 1, 1965, and before July 2, 1970, shall be increased by two percent (2%); and

(3) after July 1, 1970, and before July 2, 1975, shall be increased by one percent (1%).

(b) In addition to the increase specified in subsection (a), the monthly benefit payable after June 30, 1983, to a member, or a survivor or beneficiary of a member, who retired or was disabled before July 2, 1982, shall be increased by three percent (3%).

(c) The increases specified in this section:

(1) shall be based upon the date of the member's initial retirement or disability;

(2) do not apply to benefits payable in a lump sum; and

(3) are in addition to any other increase provided by law.