1977 pension and disability fund.

Increased the required contribution rate from 6% to 6.5% of salary for first class patrolmen or firefighters.

Adjusted retirement benefit calculations for members retiring after June 30, 2019, increasing the base benefit from 50% to 52% of salary.

Updated the effective date for new provisions from February 1, 2025 to July 1, 2025.

Changed employer reporting requirements to include electronic submission of member lists and contribution payments.

Removed provisions regarding aptitude and physical standards that were previously included in the bill.

Updated bill numbering from SB 388.3 to SB 388.1 and revised digest information to reflect current legislative status.

Effective date changed from July 1, 2025 to 'upon passage' for most provisions, though some retirement benefit calculations remain effective July 1, 2025

Added provisions allowing municipalities, units, airport authorities, school corporations, and charter schools to require certain public employees to continue in the 1977 fund instead of the public employees' retirement fund

Updated legal citations from IC 36-8-8 to IC 36-8 and changed the referenced statute sections from IC 36-8-8-8 to IC 36-8-8-3

Added requirements for units without 1937 firefighter funds to choose between public employees' retirement fund or 1977 fund participation

Added provisions requiring longevity increases in the 1977 fund to be greater than or equal to the previous year's increase