For immediate release:
Jan. 27, 2015
INDIANAPOLIS - Members of the Indiana House of Representatives today (Tues., Jan. 27) unanimously approved legislation co-authored by State Rep. David Niezgodski (D-South Bend) that streamlines the distribution of funds to members and beneficiaries of any public pension fund administered by the Indiana public retirement system.
House Bill 1109 provides that beneficiaries will receive payment by means of direct deposit of funds into their accounts. The INPRS Board of Trustees will make exceptions in certain cases, such as members lacking a savings or checking account, and offer payment of benefits through means of a paper check or other workable method.
“Dispensing funds through direct deposit will save the State of Indiana thousands of dollars in postage and materials on an annual basis,” explained Niezgodski. “Social Security benefits are currently being transmitted in this manner. I believe it’s sensible to follow the same efficient procedure with Indiana Public Pension funds.”
Niezgodski is joined on the bill by author State Rep. Woody Burton (R-Indianapolis) and co-authors State Reps. Charles Moseley (D-Portage) and Doug Gutwein (R-Francesville).
House Bill 1109 passed 96-0 and will now move to the Indiana Senate for consideration.