SB 14: Pension matters.

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Modifies the definition of "average of the annual compensation" for a member of the public employees' retirement fund (PERF) who retires after December 31, 2027. Specifies that compensation received in contemplation of retirement is excluded from the average of the annual compensation for particular members of PERF and the Indiana state teachers' retirement fund (TRF). Repeals a provision requiring the board of trustees of the Indiana public retirement system (board) to maintain separate accounts for each unit of local government. Provides that amounts forfeited under the public employees defined contribution plan must be used as determined by the board. Specifies a process by which a fully vested member of the public employees' defined contribution plan or the teachers' defined contribution plan may irrevocably elect to participate in PERF or TRF, as applicable. Modifies the information that must be included in a delinquency notice to a delinquent political subdivision. Modifies the requirements that apply to certain PERF members purchasing and claiming years of service credit in PERF. Allows, subject to particular requirements, certain TRF members to purchase and claim years of service credit in TRF. Allows a PERF or TRF member's employer to pay all or part of the member's contributions required for purchase of service credit. Allows a wage assignment to be made for the purpose of paying voluntary contributions of an employee of a political subdivision to a tax deferred retirement account. Provides that a municipality, a unit, an airport authority, a school corporation, or a charter school may require certain members of PERF to continue as members of that fund instead of the 1977 police officers' and firefighters' pension and disability fund (1977 fund). Requires, subject to certain limitations, the state to make contributions after December 31, 2026, that match, dollar for dollar, each state employee's deferred compensation contributions, not to exceed $28 per paycheck. Specifies a process by which portions of the funding sources for the retirement medical benefits account must be transferred to the state comptroller for the purpose of making matching contributions. Provides as a default rule that after December 31, 2026, each participant's membership in the retirement medical benefits account is terminated, participant subaccounts are forfeited, and subaccount amounts must be transferred to the state general fund. Requires the state comptroller to transfer certain amounts from the state general fund to each participant's defined contribution plan. Specifies a time frame within which a participant in the retirement medical benefits account may elect to remain a participant. Establishes the 2027 retiree health benefit trust. Provides that the retiree health benefit trust fund will be terminated when certain conditions are met. Increases the lump sum death benefit payable to the heirs or estate of a 1977 fund member. (The introduced version of this bill was prepared by the interim study committee on pension management oversight.)

Sponsors

Sponsors by party (alphabetical): Democratic 3 · Republican 7

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. March 5, 2026Public Law 104
2. March 5, 2026Signed by the Governor
3. February 27, 2026Signed by the Speaker
4. February 27, 2026Signed by the President Pro Tempore
5. February 27, 2026Signed by the President of the Senate
6. February 27, 2026CCR # 1 filed in the Senate
7. February 27, 2026CCR # 1 filed in the House
8. February 27, 2026Rules Suspended. Conference Committee Report 1: adopted by the House; Roll Call 410: yeas 95, nays 0
9. February 27, 2026Rules Suspended. Conference Committee Report 1: adopted by the Senate; Roll Call 314: yeas 49, nays 0
10. February 24, 2026House advisors appointed: Isa, Jordan, Moseley
11. February 24, 2026House conferees appointed: Teshka, Garcia Wilburn
12. February 23, 2026Motion to dissent filed

Showing 12 most recent of 32 actions. Full history