§ 5-10-2-5-33

(a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after December 31, 2003, to a member of the public employees' retirement fund (or to a survivor or beneficiary of a member of the public employees' retirement fund) who retired or was disabled before January 1, 2003, shall be increased by two percent (2%).(b) The monthly amount of the increase described in subsection (a) payable to a member of the public employees' retirement fund (or to a survivor or beneficiary of a member of the public employees' retirement fund) may not be less than five dollars ($5).(c) The increases specified in this section:(1) are based upon the date of the member's latest 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.190-2003, SEC.3.