35 Ind. Admin. Code 1.2-8-2

Current through August 28, 2024

Section 35 IAC 1.2-8-2 - Formula

Authority: IC 5-10.5-4-2

Affected: IC 5-10.2-5-29; IC 5-10.2-5-30

Sec. 2.

(a) The elements established in section 1 of this rule shall be used in the formula in subsection (b).

(b) Compare the cumulative Consumer Price Index increase for an affected group to the cumulative postretirement cost-of-living adjustments for that group, as determined under section 1 of this rule, and increase that group's pension portion by the percentage (if any) determined by the fund actuary, as necessary to reach the minimum purchasing power established by the Indiana general assembly, for example:

(1) fifty percent (50%) for 1999; and

(2) fifty-seven and four-tenths percent (57.4%) for 2000.

35 IAC 1.2-8-2

Board of Trustees of the Indiana Public Retirement System; 35 IAC 1.2-8-2; filed May 18, 2001, 10:38 a.m.: 24 IR 3014; adopted Nov 9, 2007: 20071205-IR-035070818ONA