{"data":{"id":"us-in/ic-5-10.5-4-8","jurisdiction":"us-in","citation":"IC 5-10.5-4-8","heading":"Surcharge rates to prefund postretirement benefits","body":"Sec. 8. (a) The board shall set the surcharge rates under IC 5-10.2-12-3 at a level to actuarially prefund:\n(1) annual indexed thirteenth checks for all current retired members and beneficiaries retired before July 1, 2029; and\n(2) one percent (1%) annual cost of living adjustments to future in-payment members and beneficiaries retired on or after July 1, 2029.\n(b) The board shall not reduce the surcharge rates under IC 5-10.2-12-3 from the prior year.\n(c) The board may increase the surcharge rates under IC 5-10.2-12-3 by not more than one-tenth percent (0.1%) of payroll from the prior year.\n(d) This section expires December 31, 2031.","path":["TITLE 5. STATE AND LOCAL ADMINISTRATION","ARTICLE 10.5. INDIANA PUBLIC PENSION MODERNIZATION ACT","Chapter 4. Board Powers and Duties"],"source_url":"https://iga.in.gov/ic/2026/Title_5.html#5-10.5-4-8","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-02T16:11:39Z","sha256":"8317715c6d3c87570c6eabbc89756cabab34719603c19214f09b08fa523683ed","source_id":"us-in","stale":false,"prev":"us-in/ic-5-10.5-4-7","next":"us-in/ic-5-10.5-5-1"},"notice":"GroundRules: Original legal text. Not legal advice."}