SB0014 — A BILL FOR AN ACT to amend the Indiana Code concerning pensions.

Summary

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.)

Bill Text

Action History

1. February 27, 2026

   Signed by the Speaker

2. February 27, 2026

   Signed by the President Pro Tempore

3. February 27, 2026

   Signed by the President of the Senate

4. February 27, 2026

   CCR # 1 filed in the Senate

5. February 27, 2026

   CCR # 1 filed in the House

6. March 05, 2026

   Public Law 104

7. February 27, 2026

   Rules Suspended. Conference Committee Report 1: adopted by the House; Roll Call 410: yeas 95, nays 0

8. March 05, 2026

   Signed by the Governor

9. February 27, 2026

   Rules Suspended. Conference Committee Report 1: adopted by the Senate; Roll Call 314: yeas 49, nays 0

10. February 24, 2026

    House advisors appointed: Isa, Jordan, Moseley

11. February 24, 2026

    House conferees appointed: Teshka, Garcia Wilburn

12. February 23, 2026

    Motion to dissent filed

13. February 23, 2026

    Senate advisors appointed: Hunley, Buchanan

14. February 23, 2026

    Senate conferees appointed: Rogers, Niezgodski

15. February 23, 2026

    Senate dissented from House amendments

16. February 18, 2026

    Returned to the Senate with amendments

17. February 17, 2026

    Third reading: passed; Roll Call 260: yeas 90, nays 0

18. February 16, 2026

    Second reading: ordered engrossed

19. February 12, 2026

    Committee report: amend do pass, adopted

20. January 20, 2026

    First reading: referred to Committee on Employment, Labor and Pensions

21. January 09, 2026

    Referred to the House

22. January 06, 2026

    Senator Alexander added as coauthor

23. January 06, 2026

    Senator Doriot added as coauthor

24. January 06, 2026

    Senator Yoder added as coauthor

25. January 06, 2026

    House sponsor: Representative Teshka

26. January 06, 2026

    Third reading: passed; Roll Call 12: yeas 49, nays 0

27. January 06, 2026

    Cosponsors: Representatives VanNatter, Garcia Wilburn, Isa

28. January 05, 2026

    Amendment #1 (Rogers) prevailed; voice vote

29. January 05, 2026

    Second reading: amended, ordered engrossed

30. December 10, 2025

    Committee report: do pass, adopted

31. December 08, 2025

    Authored by Senators Rogers, Buchanan, Niezgodski

32. December 08, 2025

    First reading: referred to Committee on Pensions and Labor

Sponsors

• Linda Rogers · Primary

Votes

Subjects