CHAPTER 3. THE STATE POLICE PRE-1987 BENEFIT SYSTEM

IC 10-12-3
    Chapter 3. The State Police Pre-1987 Benefit System

IC 10-12-3-1
Application of chapter
    Sec. 1. This chapter applies only to an employee beneficiary who:
        (1) is hired for the first time before July 1, 1987; and
        (2) does not choose coverage by IC 10-12-4 under IC 10-12-4-1.
As added by P.L.2-2003, SEC.3.

IC 10-12-3-2
Limitations on pension trust
    Sec. 2. The pension trust for employee beneficiaries covered bythis chapter is subject to the limitations specified in this chapter.
As added by P.L.2-2003, SEC.3.

IC 10-12-3-3
Retirement age
    Sec. 3. (a) The normal retirement age for a regular policeemployee of the department may not be later than seventy (70) yearsof age.
    (b) The department may not enforce a mandatory retirement ageagainst its civilian employees.
As added by P.L.2-2003, SEC.3.

IC 10-12-3-4
Deductions from wages
    Sec. 4. The monthly deductions from the employee beneficiary'swages for the trust fund may not exceed six percent (6%) of theemployee beneficiary's average monthly wages (excluding paymentsfor overtime and determined without regard to any salary reductionagreement established under Section 125 of the Internal RevenueCode).
As added by P.L.2-2003, SEC.3.

IC 10-12-3-5
Right to net amount paid into fund from wages
    Sec. 5. If an employee beneficiary ceases to be an eligibleemployee for any reason, including death, disability, unemployment,or retirement:
        (1) the employee beneficiary;
        (2) the employee beneficiary's beneficiary; or
        (3) the employee beneficiary's estate;
is entitled to receive at least the net amount paid into the trust fundfrom the wages of the employee beneficiary, either in a lump sum orin monthly installments not less than the basic pension amount.
As added by P.L.2-2003, SEC.3.

IC 10-12-3-6
Old age retirements; right to monthly income; minimum service

for full amount
    Sec. 6. If an employee beneficiary is retired for old age, theemployee beneficiary is entitled to receive a lifelong monthly incomeas specified in section 7 of this chapter. However, to be entitled tothe full amount of the basic pension amount, an employeebeneficiary must have completed at least twenty (20) years of serviceto the department before retirement. Otherwise, the employeebeneficiary is entitled to receive a proportionate pension based on theemployee beneficiary's years of service to the department.
As added by P.L.2-2003, SEC.3.

IC 10-12-3-7
Basic pension amount; additional benefits
    Sec. 7. (a) Benefits provided under this section are subject toIC 10-12-2-3.
    (b) The basic monthly pension amount may not exceed by morethan twenty dollars ($20) one-half (1/2) the amount of the employeebeneficiary's average monthly wage (excluding payments forovertime and determined without regard to any salary reductionagreement established under Section 125 of the Internal RevenueCode) received during the highest paid consecutive twelve (12)months before retirement. Salary that exceeds the monthly wagereceived by a police employee in the grade of trooper at thebeginning of the trooper's sixth year of service may not be consideredwhen the basic pension amount is computed.
    (c) An employee beneficiary in the active service of thedepartment who has completed twenty (20) years of service after July1, 1937, and who continues after July 1, 1937, in the service of thedepartment is entitled to add to the basic monthly pension amount,at retirement, the following:
        (1) Two percent (2%) of the basic amount for each of the nexttwo (2) full years of service over twenty (20) years.
        (2) Three percent (3%) of the basic amount for each of the nexttwo (2) full years over twenty-two (22) years.
        (3) Four percent (4%) of the basic amount for each of the nexttwo (2) full years over twenty-four (24) years.
        (4) Five percent (5%) of the basic amount for each of the nexttwo (2) full years over twenty-six (26) years.
        (5) Six percent (6%) of the basic amount for each of the nexttwo (2) full years over twenty-eight (28) years.
        (6) Seven percent (7%) of the basic amount for each of the nexttwo (2) full years over thirty (30) years.
        (7) Eight percent (8%) of the basic amount for each of the nexttwo (2) full years over thirty-two (32) years.
However, the total of the additional amount may not exceed seventypercent (70%) of the basic pension amount. These additional benefitsare subject to the compulsory retirement age provided by the pensiontrust.
As added by P.L.2-2003, SEC.3. Amended by P.L.189-2007, SEC.1.