(a) The monthly benefit payable after June 30, 1983, to a member, or a survivor or beneficiary of a member, who retired or was disabled:(1) before July 2, 1965, shall be increased by three percent (3%);(2) after July 1, 1965, and before July 2, 1970, shall be increased by two percent (2%); and(3) after July 1, 1970, and before July 2, 1975, shall be increased by one percent (1%).(b) In addition to the increase specified in subsection (a), the monthly benefit payable after June 30, 1983, to a member, or a survivor or beneficiary of a member, who retired or was disabled before July 2, 1982, shall be increased by three percent (3%).(c) The increases specified in this section:(1) shall be based upon the date of the member's initial retirement or disability;(2) do not apply to benefits payable in a lump sum; and(3) are in addition to any other increase provided by law.As added by P.L.50-1983, SEC.1.
Indiana Legal Code