State Rep. Woody Burtonattended the Retired Indiana Public Employees Association (RIPEA) 40th anniversary celebration on Monday in Indianapolis. The celebration honored retired and active public service workers in Indiana.
Rep. Burton serves as Chairman of the Pension Management Oversight Commission (PMOC), an interim legislative study committee, which studies topics related to pensions, annuities and retirement benefits for public employees, teachers and public safety officers.
Rep. Burton shared updates from the committee’s latest meeting during his address at the celebration. The Commission considered three preliminary drafts related to Teachers’ Retirement Fund (TRF) and Public Employees’ Retirement Fund (PERF). The first draft proposed a $500 minimum monthly benefit for members of TRF and PERF. The second draft deals with thirteenth checks for certain members of TRF, PERF and various state officials. The third draft suggested a cost of living adjustment (COLA) for PERF and TRF. Certain members of the committee will be working the next few weeks on TRF and PERF pension plans in addition to looking into the idea of a cost of living adjustment (COLA).
“Teachers and public employees have worked very hard for their retirement benefits,” said Rep. Burton. “It is my hope that we will recommend these three options to the General Assembly next year and together we can determine the best option for retired employees.”
The next PMOC meeting will be at the Statehouse on Wednesday, Oct. 17 at 10:30 a.m. and will be broadcast over the Internet for those unable to attend. Please visit www.in.gov/legislative/2441 and select the video stream for room 431.