IC 5-10.2-4-3.2 — Compensation received in contemplation of retirement
Chapter 4. Retirement and Disability Benefits
Bills adding this section
Section text
Sec. 3.2. (a) This section applies to the calculation of the average of the annual compensation under section 3 of this chapter for members who retire after December 31, 2027. (b) For purposes of this section, "compensation received in contemplation of retirement" means compensation that: (1) a member received: (A) during the member's last year of service; and (B) after the member's last year of service; and (2) is greater than one hundred twenty percent (120%) of the compensation the member received during the year immediately before the member's last year of service. (c) For a member who: (1) retires after December 31, 2027; and (2) served in a covered position during the entire year before the member's last year of service; compensation received in contemplation of retirement is excluded from the average of the annual compensation. (d) For purposes of this section, a year must begin on January 1 or July 1 on the same basis as the average of the annual compensation.
As added by P.L.104-2026, SEC.10.
Source: official publisher (2026 edition)