§ 5-10-4-6-9

(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 fund (or to a survivor or beneficiary of a member of the fund) who retired or was disabled:(1) after July 1, 1996, and before July 2, 2001, shall be increased by one percent (1%);(2) after July 1, 1978, and before July 2, 1996, shall be increased by two percent (2%); and(3) before July 2, 1978, shall be increased by three percent (3%).(b) The increases specified in this section:(1) are based on 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.[Pre-2006 Education Finance Recodification Citation: 5-10.2-5-34.4.]As added by P.L.2-2006, SEC.28.