Increases the basic monthly pension benefit payable to a member of the 1977 police officers' and firefighters' pension and disability fund who retires after June 30, 2025, with 20 years of service. Increases the contribution rate of fund members. Provides that a municipality, a unit, an airport authority, a school corporation, or a charter school may require certain members of the public employees retirement fund to continue as members of that fund instead of the 1977 police officers' and firefighters' pension and disability fund.

Statutes affected:
Introduced Senate Bill (S): 36-8-8-8, 36-8-8-11
Senate Bill (S): 36-8-8-8, 36-8-8-11
Engrossed Senate Bill (S): 36-8-8-3, 36-8-8-8, 36-8-8-11
Senate Bill (H): 36-8-8-3, 36-8-8-8, 36-8-8-11