Section 35IAC1.2-8-1. Calculation

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A cost-of-living adjustment based on purchasing power replacement shall be calculated using the following elements for determinations made as of July 1:

(1) The Consumer Price Index-W from the prior March 31 shall be used.

(2) For comparative purposes, the appropriate prior years' March 31 Consumer Price Index-W numbers shall be used.

(3) Retirees will be grouped (based on their latest retirement or disability date) by twelve (12) month periods running from July 2 through the following July 1. A single net adjustment percentage shall be calculated for each such group.

(4) Minimum and maximum amounts in prior postretirement adjustments shall not be taken into account.

(5) So-called "13^th checks" shall not be taken into account.

(Board of Trustees of the Indiana Public Retirement System; 35 IAC 1.2-8-1; filed May 18, 2001, 10:38 a.m.: 24 IR 3014; adopted Nov 9, 2007: 20071205-IR-035070818ONA)

                    
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