The RIPEA Board of Directors voted to sponsor a bill(s) for a 3% Cost of Living Adjustment (COLA) and a 13th check in the 2016 Indiana legislature.
House Bill 1161 – 13th Check – took the initial step on January 12th when it was approved unanimously by the House Labor, Employment and Pension Committee. This is the initial step in our hope that this bill is passed and signed into law. The amount of the 13th check in this bill is the same as recent years:
|Years of Service||Amount|
|5-10 years (disabled)||$150.00|
However, in this same meeting on January 12th the COLA Bill was not heard by the Committee and therefore is dead in this session. The last COLA received by PERF retirees was January 2009. This lack of a COLA has caused severe financial hardship for many PERF retirees as they continue to lose purchasing power.
February 5, 2016
H.B. 1161 – 13th Check - Passed the House with 91 yeas – 0 Nays.
It has been referred to the Senate Pensions and Labor Committee.
March 11, 2016
House Bill #1161 – Passed, 89-0 House, 49-0 Senate
The bill has been sent to the Governor for his signature.
House Bill 1325
HB 1325, introduced by Representative Wes Culver, would do the following:
- Change the Rule of 85 (employee at least 55 years of age) whose years of service plus age equal 85 can retire without a reduction in benefits. The Rule of 85 is changed to the Rule of 95.
- Increased dramatically the pension benefit formula of 1.1% to a percentage of an employee’s salary paid at the time of separation of service.
January 21, 2016
Status of HB 1325 – Assigned to House Rules and Legislative Procedures Committee.