Betts, a 15-year WVCF correctional officer, died in the line of duty Aug. 26, 2012.
Betts, of Jasonville, collapsed from an apparent heart attack while assisting in the escort of an unruly offender to the segregation unit at the prison, according to WVCF Public Information Officer Richard Larsen.
Betts, 51, had received numerous letters of appreciation and commendation for his outstanding service and dedication to duty at the prison.
Betts is survived by his wife, Gloria, daughters Amy and Ashley; a son, Timothy II and grandchildren, Brylea and Adilea.
His daughter, Amy Barton, said the family was pleased with the recognition.
"Our family is just very, very humbled that so many people have reached out to us. We are very humbled and blessed to have had our Dad in our lives for as long as we did," she commented.
The event Wednesday was one of many in nation's capital and throughout the country during National Police Week 2013, which runs through Saturday.
Betts' mother, Mrs. Theodore Betts, from Jasonville, said her son was a good law enforcement officer.
"We are very proud of him and wish he was still here with us," his mother said.
The memorial features two curving blue-gray marble walls over 300 feet long. It includes the names of more than 19,000 officers who have died in the line of duty. Each spring, new names of fallen officers are added to the monument.
Betts' name was among the 321 officers who were added to the memorial wall this year, Larsen said.
Indiana Department of Correction Deputy Commissioner of Operations James Basinger attended the ceremony. He noted the site is visited by nearly a quarter million people each year.
In September, Betts will also be honored with his name inscribed on the Indiana Law Enforcement and Firefighters Memorial in Indianapolis.