SB 14 IN

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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.)

• Linda Rogers Republican · author
• Brian Buchanan Republican · author
• David Niezgodski Democratic · author
• Jake Teshka Republican · sponsor

1. Dec 8, 2025 First reading: referred to Committee on Pensions and Labor · upper
2. Dec 8, 2025 Authored by Senators Rogers, Buchanan, Niezgodski · upper
3. Dec 10, 2025 Committee report: do pass, adopted · upper
4. Jan 5, 2026 Second reading: amended, ordered engrossed · upper
5. Jan 5, 2026 Amendment #1 (Rogers) prevailed; voice vote · upper
6. Jan 6, 2026 Cosponsors: Representatives VanNatter, Garcia Wilburn, Isa · upper
7. Jan 6, 2026 Third reading: passed; Roll Call 12: yeas 49, nays 0 · upper
8. Jan 6, 2026 House sponsor: Representative Teshka · upper
9. Jan 6, 2026 Senator Yoder added as coauthor · upper
10. Jan 6, 2026 Senator Doriot added as coauthor · upper
11. Jan 6, 2026 Senator Alexander added as coauthor · upper
12. Jan 9, 2026 Referred to the House · upper
13. Jan 20, 2026 First reading: referred to Committee on Employment, Labor and Pensions · lower
14. Feb 12, 2026 Committee report: amend do pass, adopted · lower
15. Feb 16, 2026 Second reading: ordered engrossed · lower
16. Feb 17, 2026 Third reading: passed; Roll Call 260: yeas 90, nays 0 · lower
17. Feb 18, 2026 Returned to the Senate with amendments · lower
18. Feb 23, 2026 Senate dissented from House amendments · upper
19. Feb 23, 2026 Senate conferees appointed: Rogers, Niezgodski · upper
20. Feb 23, 2026 Senate advisors appointed: Hunley, Buchanan · upper
21. Feb 23, 2026 Motion to dissent filed · upper
22. Feb 24, 2026 House conferees appointed: Teshka, Garcia Wilburn · lower
23. Feb 24, 2026 House advisors appointed: Isa, Jordan, Moseley · lower
24. Feb 27, 2026 Rules Suspended. Conference Committee Report 1: adopted by the Senate; Roll Call 314: yeas 49, nays 0 · upper
25. Mar 5, 2026 Signed by the Governor · executive
26. Feb 27, 2026 Rules Suspended. Conference Committee Report 1: adopted by the House; Roll Call 410: yeas 95, nays 0 · lower
27. Mar 5, 2026 Public Law 104 · upper
28. Feb 27, 2026 CCR # 1 filed in the House · lower
29. Feb 27, 2026 CCR # 1 filed in the Senate · upper
30. Feb 27, 2026 Signed by the President of the Senate · upper
31. Feb 27, 2026 Signed by the President Pro Tempore · upper
32. Feb 27, 2026 Signed by the Speaker · lower